Insurance is a specialized area that requires high degree of knowledge, experience and expertise to ensure that there are no unexpected surprises. Hence, it is of utmost importance to discern the right insurances, right products and right services in the midst of ever changing insurance market.
We have experience and expertise to provide comprehensive insurance services for property, casualty, liability, employee benefits, risk management services and other related services.
We have developed industry specific & sector specific competencies in energy, power, infrastructure, pharmaceuticals, IT/ITES, Government Organizations that allow us to respond to unique demands and opportunities in those industries & sectors.
While handling these insurances across industries & sectors, we have acquired valuable insights, some are specialized, that have brought us recognition in the insurance market. Owing to this, our clients continue patronizing us, which we are proud to acknowledge.
- VISISTA represents the client – to the insurance companies unlike an agent who represents an insurance company.
- VISISTA has always maintained strong professional relationships with all the insurance companies including at the highest level.
- VISISTA maintains complete access and excellent rapport with Surveyors, Loss Adjusters, TPAs and other professionals assisting insurers in meeting their obligations.
- The insurance programs for our clients are not driven merely by products available with insurance companies but by client risk philosophy, needs and requirements.
- We assess and evaluate the potential risks the clients are exposed to, keeping in focus cost –benefit analysis for the optimal solution for fulfilling client needs. We review the insurance programs in terms of adequacy, correctness, cost and comprehensiveness etc.
- We audit the existing insurance programs, prepare gap analysis.
- We work with the client to customize their insurance portfolio.
- Check the policy documents in regards to coverage, exclusions, terms and conditions, warranties, correctness etc.
- Explain the policy document to the client and advise if there are any situations the client needs to know.
- Assist in claims management, negotiation and settlement.
- Provide market information and reporting on clients’ insurance program on regular basis.
The differentiators are
- Qualified And Experienced Team.
Well qualified and with rich experience, we provide reliable advice.
- Strong Product Customization Capability.
Ability to create innovative risk management solutions, optimal insurance programs, driven by client philosophy & needs, not merely by availability of products & services.
- Strong Relationship With Insurers At The Highest Level.
With our relationships, we obtain appropriate coverage, terms & conditions and competitive price.
- Extensive Claim Settlement Experience.
With our experience in claim settlement, we protect your interest.
We do understand that in today’s environment, it’s critical for businesses to look beyond just insurance and consider their total cost of risk.
Challenging areas that have huge impact on the claims and where the clients have to be properly guided:
- Description of the items to be insured – stocks vs stocks in process, sometimes the description & designation as practiced by clients are not accepted.
- Breakup of the sum insured – items wise and value wise.
- Location, single location vs multiple location, postal address, PIN.
- Values – uninsurable values – replacement values vs gross values vs market values, checking adequacy, gross profit and standing charges.
- Understand the value components for the major items, its implications.
- Policy exclusions, warranties, conditions.
- Multiple policies, Overlapping policies, Umbrella policies.
- Non uniform , non-homogenous risk coverage across the organization.
- Staggered expiry dates throughout the year.
- Liability insurance programs – implications for business.
- Statutory requirements, Good to have policies.
- Adequacy in the limit of liability.
- Add on covers, Extensions, Basis, Territory, Jurisdiction, Governing Laws.
Evaluating the insurance relations – policy wordings, exclusions, geographical presence, claim handling expertise etc.