MSB Admin Services 

We at MSB have been long enough in the industry, twenty two years in fact, to know where the risks are and where new risks will come from. In short, don’t loose your clients and hope legislation and/or costs won’t close us down.

No matter how big or small our different brokerages are, we all have the same way of working and we all have the same operational expenses, some just bigger than others. What we also know about each other is that we all duplicate so many of these costs, yet get the same results.

When we all started out we were all very protective of our clients and thought that this will be enough to keep them but through the years we also became aware of the fact that clients want more from you as a broker and wouldn’t think twice of changing to another broker or even to a direct insurer. They want the best premiums, excellent service and anything extra they can get for free. Seeing your client once or even twice a year does not seem to be enough for most of them anymore let alone the fact that it is becoming more and more difficult as your brokerage grows.

We also know that as we grow older, so do our clients and sooner than later these clients will have to be replaced by younger ones or in the case of commercial business, by younger managers. These new and younger clients, believe it or not, might not want to work with an older insurance broker like yourself. 

Unfortunately for so many of us our brokerages or interests in such forms a big part of our retirement planning and even balance sheet. 

Leaving everything to see what the future holds could be a very costly attitude and might just mean the difference between retiring with or without an income.

If a number of like minded people with the same expertise could join forces, share expenses and knowledge and work together in a format that protects everybody’s interest, a lot of sustainable goodwill can be generated from it. This should ultimately lead to the protection of the income and assets of all concerned.

If we cannot manage our own portfolios in future, we need to get somebody to do it on our behalf and pay them for doing it. The only problem is that we wouldn’t have enough money to pay someone that is adequately qualified unless we start planning now.

What we have

At MSB we believe we have the structures and systems in place to address all the concerns as raised.

A few to mention:
- A properly structured company setup with holding company and share allocation.
- Computerized database linked to delegated authorities for premium collection.
- Contracts with almost all major insurance companies. 
- Full compliance audit annually by external authority.
- Comprehensive range of insurance and value added products.
- Modern and updated websites to allow sufficient communication with clients.
- Structured and personalized insurance products.
- Integrated systems to communicate electronically with our clients on a regular basis.
- A healthy working relationship with senior management of the major insurers.

Benefits to the broker

- Collective premium from a small number of brokers can be quite significant on branch level.
- This will result in positive figures (growth & loss ratio)
- Top of the range policy administration system and soon to be upgraded.
- Already 50 plus contracted brokers and agents supporting the initiative
- Concept can be compared with a buyers group
- Retaining own identity, contracts and license yet part of a bigger group.
- Personalized scheme policy with a major insurer
- Be part of a group of like minded brokers who are serious about the future of their own business
- Help developing new products and value added products
- Large back office administration setup with highly qualified staff
- Top level of service guaranteed at all times.