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Markel Insurances

10 Mar 2021

How we achieved our five-star rating for quality of cover

It’s no secret that there are many factors that go into broker satisfaction levels – hence why Insurance Times’ Broker Satisfaction Survey (BSS) is focused around five main services areas:

  • Claims: Fairness of settlement and speed

  • Policy documentation: Accuracy and transparency

  • Quality of cover

  • Relationship handling and management

  • Underwriting: Expertise, flexibility and support

Even if an insurer is performing exceptionally well across most of the service areas, if the quality of cover isn’t up to scratch, an insurer will struggle to keep their brokers happy.

That’s why we always apply our Expect More ethos to our cover. Protecting customers, providing peace of mind and creating certainty is at the heart of what we do. We always seek to know our customers’ needs and provide them with a unique range of services with market-leading covers at their core.

We deliver a range of bespoke and carefully designed products that are specifically tailored to meet the needs of each sector. This provides comfort and protection, so it allows our customers to focus on growing their business, leaving our brokers with happy clients.

But our Expect More promise most definitely doesn’t stop there. To create a unique offering for UK SMEs, Markel UK offers its SME policyholders a first-class insurance program combined with complimentary access to a suite of in-house, sector-specific and professional business services.

It’s not enough to think like an insurer, you need to back it up with wider and deeper expertise in tax and law to deliver a fuller, more authoritative service. We can do more for our customers because we know more about how changes in circumstances can affect them.

During the early stages of lockdown, for instance, over 100 in-house tax and legal specialists worked closely with Markel’s insurance experts to support brokers and SMEs, through the complexities of Covid-19.

Online hubs were developed and over 200 pieces of in-depth insurance, tax and legal guidance were shared to help brokers and their customers.  Markel made its ‘Law Hub’ freely available and its legal specialists also provided phone-based legal advice 24/7 to over 89,000 UK companies. 

The tax consultancy team also helped UK SMEs claim over £10m+ of tax credits during the lockdown period, generating valuable cash flow which they could inject back into their business. All of which makes a tangible difference to their organisations.

All of this leads to a customer who has the resources to grow their business and a broker who’s extremely satisfied with the complete service they’re able to provide their clients.

It’s therefore no surprise that we’re trusted by over 100,000 UK business to deliver an award-winning combination of robust insurance solutions and unrivalled tax and legal expertise, meaning brokers can be more than just an insurance broker for their clients - transforming insurance from a business essential, to a business asset.

We are delighted that all of this contributed to being awarded five stars, not only just in quality of cover, but also across all five service areas, making us one of only two insurers to achieve this. When we say Expect More from those who Do More, we mean it.

To learn more about our five-star-rated SME solution, find out more here or get in touch.

Tagged Insurance Times Survey
Next article in series

10 Mar 2021

Underwriting: How we achieved our five-star rating for underwriting