Feel Insured.. English Version

Insurance brokers in Georgian market

In fact, the insurance broker is not only intermediary in the process of choosing insurance policies, but also a professional consultant of the client in insurance contract existence period. As the client advisor, broker saves your time, money and worry. It is the broker who gives a detailed explanation on the types of insurance, exceptions and positive or negative aspects of the contract, as well as provides the client with service monitoring using legal and financial support, to make sure that promises given by the insurance company, will be kept. The Georgian market is quite specific. Broker companies abroad are very developed and everyone there knows what brokers do. The Georgian market is only just developing in Georgia now. And generally speaking, a developing market is very risky. In this case, companies depend not just on their job and clients. They have to know the market’s problems from a broker company’s point of view, and not an insurance company.

Financial Brokers Georgia

Financial Brokers Georgia was established in February 2011 and already has seven large corporate clients along with many others. Financial Brokers Georgia represents a registered authority, and legally acts under the rules and regulations of the Georgian law.

The company, offering the insurance brokerage services and naming itself a broker is, obliged by Georgian law to be registered by the National Bank of Georgia and hold an appropriate rights to act as insurance broker. The past year has been a long road to the success which company is now experiencing. Financial Brokers Georgia’s duty is to improve insurance service conditions and its processes for corporate companies. The financial aspect in this case plays one of the leading roles. That is why, Financial Brokers Georgia will work on the best match of price/service for your company. Accordingly, you getting optimal decision, which will be as cost-effective, as useful for insurance.

Our Staff In general staff is very important for brokerage companies. They have to be highly qualified. Each client needs a separate insurance manager. FBG has employees with experience working at insurance companies and banks. FBG staff was retrained to protect the interest of clients against insurance risks and uncorrected decisions from insurance companies. Therefore they don`t act like an insurance company employee. Our internal team consists of four professionals in insurance brokerage services, working for insurance proposal development and further information analysis. It involves: Analytical manager, Medical manager, Service managers of insured company, Project manager.

As well as 6 claims managers, and call center operators, who are to assist you 24/7. Company is going to expand their number as it gets new clients.

Our Partners

Financial Brokers Georgia cares for loyal and transparent relations with its partners. It involves as corporate clients as insurance companies. Company managed to prove that company is independent and insurance companies have an equal chance in insurance tenders. We currently cooperate with seven of the insurance market’s big players.

Nowadays, our clients are: Heidelberg Cement (Health insurance), Georgian Petroleum (Financial risk insurance), Populi (property insurance), International house (Health insurance), Total Sharm (Liability insurance), etc. Our insurance partners are companies which successfully operates in Georgian market.These companies are: Aldagi BCI, Imedi-L, IRAO, GPI Holding, IC Group, PSP Insurance, CHARTIS Europe S.A. (Georgia Branch).

Insurance risk consulting

“Financial Brokers Georgia” ‘s specialists are studying the specifics of the client’s activity and will determine the risks as well as specific requirements for insurance companies to conduct a tender. Steps in risk consulting:

Determining insurance demands of a company;

Identifying of insurance requirements;

Identification certain kinds of risk–factors in particular insurance product;

Additional requirements for insurance companies for risk insurance of Particular insurance product.

In the case of health insurance:

Research the specific activity of the company employees;

Study specific medical needs; Determine health risks of the company employees.

In the case of automobiles:

Identify risks of company automobiles; Summarize the main technical data of the

automobiles; Consulting client in the auto insurance product.

In the case of property:

Determine the appropriate risks around the each object:

Buildings and content(furniture, equipment); Other components of the production line; Storage and commodity supplies; Cash.

We identify and make clear specific client`s demands on concrete insurance product and consult them with partner insurance company.

Organizing of insurance tender

After we sign a contract with a client, we hold a high class competitive tender. This means that we study all the needs of the client. Then we calculate all risk-factors and make an insurance proposal which is our tender document. After the clients read this proposal and agree to all the terms, we send it to insurance companies. The tender document includes prices as well, according to our commission and client. When we receive proposals from the insurance companies, we review them, compare them to each other according to prices, exceptions etc, and choose the best one. We send all proposals to our clients and tell them which one is our favorite. But the final choice is up to them. Insurance tender starts by selecting appropriate insurance companies and informing them client company's requirements by tender document. Tender document contain all realistic demand of client which is in touch with leading insurance conditions in the market. After getting exclusive offerings by insurance companies, our technical managers make appropriate recommendations to each insurance company regarding their proposal. After the final offers “Financial Brokers Georgia” makes comparisons and analysis of proposals, makes special - simple forms for the client, showing advantages and weaknesses of each proposal. This form helps the client to make a decision easily concerning an insurance product. After the recommendation of “Financial Brokers Georgia” company management makes decision choosing insurance company and signs the contract. Before signing the contract it should be checked by our partners, law offices (LPA, BLC) to check the correctness of the legal terms.

Also, the contract of insurance risks will be reviewed and corrected by “Financial Brokers Georgia’s technical and medical consultants by demand. After regularizing of all insurance cases, the contract will be signed by client and insurance company for the relevant period.

Insurance Monitoring

When the contract is signed the monitoring starts. The first and last months of a year’s contract are the most difficult periods. In the first month people try to get maximal service as it is new and in the last month they try to use up all the service they have left.

When there is a problem, our clients should know that they will get a solution to their problem in a very short period of time, from two hours up to a day. But if they aren’t right, they will get a clear answer why and what they should do to be in the right. Financial Brokers Georgia consults its clients to contact on the first day of a problem arising. They shouldn’t make it worse by wasting time while trying to sort it out themselves. We can solve the problem at the very beginning.

Since then “Financial Brokers Georgia” signed an insurance agreement, company monitors client in: 1) Relationship with the insurance company 2) Solving of insurance problems timely 3) Client awareness

Financial Brokers Georgia has launched a survey of the corporate insured which goal is to identify satisfaction or dissatisfaction of each employee with insurance services.

The survey results will be provided to the insured company's management, as well as the insurance company.

The questionnaire will include such general insurance topics as the family doctor's advice, satisfaction with medicines, in and out-patient services, services in pregnancy and stomatology and act... Also survey seeks general problems and insurance cases which have to be solved after.

The results of the survey are confidential, and will be handed to the clients and their insurance companies, and then - if necessary - work on the improvement of insurance services will start.

Web-site

Brokerage Company “Financial Brokers Georgia” has renewed its web-site: www. Financial-brokers.ge New web-site is more flexible and convenient for clients.

In new site menu named “Client’s page”, corporate clients have registered and access its web space for reviewing list of insurance problems and information about their solutions.

Our plans

Financial Brokers Georgia will continue offering good service. Company is going to open a branch in Batumi in the summer to serve clients from Batumi and Poti. There are lots of corporate clients. Some of our current customers have branches there as well. Batumi and Poti have very good potential and we are sure that they have good insurance service there.

Company plans to expand the number of employees and target more clients. FBG will not cooperate with just any company. We have our target market. We aren’t working for cheap insurance, because company can’t provide service and ask insurance companies to fulfill their obligations when there are no obligations. It is only for selected corporate clients.

Tel: (+995 32) 2 969 123

E-mail: contact@financial-brokers.ge

Address: 36a Asatiani str., Tbilisi, Georgia. (Deloitte office centre)

3rd floor.