If you are planning on doing some extensive international travel over a long period of time for either business or pleasure, it’s in your best interests to be as fully insured as you can possibly manage. Things do go wrong, especially when out on the road, and if you get caught in a jam with no insurance to back you it could mean major problems, disruption of your journey, and even amount to legal peril!
The best way to make sure you have coverage that will work wherever in the world you happen to be is to engage the services of an international insurance broker who can save you big money on expat health and travel insurance by negotiating on your behalf with the coverage providers, comparing and analysing the plans that are available across the market to source you the best deal, and tailoring an insurance plan to meet your specific needs and budget.
International insurance brokers can do a lot more for you than just save you money, they can act as your ally and advocate throughout your journey, from the start to the finish of your entire insurance policy period. International brokers partner with both travel insurance and expat health insurance providers around the world and will call upon their market knowledge and extensive connections to secure the best possible coverage and prices. They act as a professional intermediary who will help individuals and businesses find the ideal insurance policies to cover their travel needs, providing a range of services focused on securing the best possible insurance coverage from the markets of the countries you choose to visit.
The main functions of international insurance brokers include assessing their client’s risks, sharing their expertise and market knowledge with their clients, assisting with claims submissions, and negotiating with insurance companies on their behalf.
The following details the key responsibilities of an international insurance broker:
Risk Assessment – The brokers must assess the risks their clients may face so they can recommend the appropriate insurance coverage. This will involve having a thorough understanding of the client’s foreign business operations or pleasure travel plans, the geographic areas they want coverage for, and any potential liabilities.
Market Knowledge – The brokers will possess extensive knowledge of the global insurance market with a deep understanding of all the subtleties of various insurance products and regulations in other countries, which enables them to provide their clients with highly informed advice.
Compliance With Regulations – The brokers must ensure that their clients’ insurance policies are in complete compliance with any local laws and regulations in every country they intend to live and/or travel in. It is their duty to stay informed of any changes in regulation requirements so they can help their clients fully understand what insurance coverage they are required to have.
Claims Assistance – Brokers will assist their clients throughout the claims process by advocating on their behalf to guarantee fair and timely settlements from foreign insurance companies.
All travellers of any type can benefit from the services offered to them by international insurance brokers, purchasing insurance through them will save you money, give you more options, and make your trip a lot safer.
