insurance broker

Insurance policies are usually bound via intermediaries. Insurance intermediaries are divided into two categories: brokers and agents. Agents work for and on behalf of one insurance company, usually under an exclusive contract of agency; they represent the interests of the insurer and sell standardised products. Brokers, however, work independently as consultants, for and on behalf of the Client (Insured) and arrange for customised products to be purchased by their clients.

why use an insurance broker?

An elaborate insurance programme can only be established with the assistance of an expert
Insurance brokers represent the Client and not the insurer, thereby avoiding potential conflicts of interest
Brokers make their proposal and comparative analysis of quotations based upon knowledge, contacts and experiences about the entire insurance market
In addition to contracting, insurance brokers provide additional services to the Client, ranging from risk analysis to claims handling
Brokers provide services free of charge (provided they handle the Client's insurances) because insurance companies pay commission in almost all cases
Brokers have a better bargaining position and thereby are able to negotiate better insurance terms and conditions for the Client

why choose potter brokers?

It is our primary objective to amalgamate the services of a Hungarian-owned insurance broker who has knowledge of the local market with the advantages of international contacts. Our colleagues are highly motivated and target-oriented, they take the long term view and their main objective is to manage the Client's insurance issues and to negotiate the best available terms and conditions. We also have the opportunity to use the knowledge of specialised experts and their experiences gained in international markets. Our services include practically the whole range of insurance related activities.

We service our Clients on the grounds of the following philosophy, in order to deliver the highest quality of professional services:

Global view on risk management
Taking over insurance tasks
Reliable information and claims handling
cost efficiency
Our colleagues acquired qualification in the fields of law, economics, engineering and high level knowledge of foreign languages, which nowadays are considered essential for providing high quality service for the Clients. The experience of our colleagues gained in international (English, German) insurance markets is the guarantee for providing our Clients with the highest quality insurance broking services and the best available insurance protection.
Since the 20 years of its operation, our company has developed excellent relations with the insurance companies operating in Hungary, and with their colleagues.
The essence of our insurance broking activity is that we always act for and on behalf of our Clients and not for and on behalf of the insurers as an independent consultant. Our independence from insurers enables us to represent our Clients interests even against those of insurers if so needed.
When drawing up insurance programmes, we emphasise the potential exposures of the Client instead of selling standard covers offered by insurance companies.
Our extensive international relationships provide the opportunity to use the expertise of specialist foreign brokerage or insurance companies when a specific solution or reinsurance cover is required for foreign risks which cannot be placed in the Hungarian market.
We look at the risks of our Clients from the global aspect because selective risk analysis often produces unsatisfactory results from a financial point of view. In the course of a risk analysis exercise, we determine the exposures threatening the company’s financial standing: insurable risks and those which need other methods of risk reduction or elimination. With regard to insurable risks, we design an insurance programme for the optimal management of such risks, always keeping an eye on the Clients business and special characteristics. It is very important that we draw up a tailor-made construction suited to the Clients requirements rather than trying to sell a ready-to-use standard insurance product. The insurance programme is then presented to insurers having the best reputation and appropriate expertise for a quotation. After having analysed their quotations we make a proposal to the Client for the selection of insurer(s).
It is one of our main objectives to take over daily insurance related problems and work on behalf of our Clients. Therefore, our work is not finished when the insurance policies are issued; rather, it just begins. For further details please go to the subject on Services.
We are convinced that our work should be judged by the quality of our relationship with Clients. Our experience shows that most of the insurance related problems and issues can be eliminated if we honestly inform Clients about the insurers requirements and draw their attention to small- print part of insurance conditions before any policy is taken out and signed. In case of a loss event we render active assistance to our Clients from sending the loss report right through until the claim is settled and closed. We are aware that the best advertisement of our company is fast and reliable claims handling, so we will do our best in order to ensure that our Clients shall receive correct insurance service as soon as possible.
Our services are free or charge for our Clients provided that their insurance policies are bound and handled via our company, because our remuneration is paid by insurers, in accordance with international market practice.
Creating a tailor-made insurance product for the Client and collecting quotations enables us to optimise our bargaining position that is a result of our reputation, premium volume placed in the market and our independence – for the benefit of the Client and to negotiate the best available terms and conditions (as opposed to the situation when the Client negotiates directly with insurers or through their agents).