Carla Gillham, Executive Head of TRUM Africa, knows exactly what matters most to brokers. In this TRUM Takes, she discusses how most policies look great… until the claim arrives.
On placement day
- The sums insured feel adequate
- The deductibles seem reasonable
- The wording looks standard
Fast-forward to the claim
And suddenly:
- Values feel tight
- Deductibles feel very real
- Exclusions feel personal
The policy didn’t change.
The situation did.
This is where underinsurance, percentage deductibles and assumptions made years ago quietly surface, and it’s rarely about a bad policy.
It’s usually about
- Asset values that were never revisited
- Inflation and market conditions that moved faster than expected
- Operational changes that weren’t reflected at renewal
- Contracts the broker never saw
Don’t forget: claims don’t punish mistakes, they reveal them.
Practical solutions to consider at renewal time
- Review the policy with a fresh set of eyes.
- Address inflation and increasing replacement costs.
- Account for shifts in the broader market and the current claims environment.
- Analyse the business as it stands today to ensure the renewal reflects current reality, rather than a simple auto-rollover.
TRUM Takes ~ Straight talk on the risks brokers actually see.
Please use this link to join the TRUM Takes series: https://trum.insure/get-trum-takes/
