Consolidating through a single Broker Network is essential for an efficient administration of a global program, typically through an independent brokerage and risk management firm with a dedicated network of like-minded independent local brokers specializing in global programs. For this reason Innovation Broking is a member of the prestigious TechAssure network.
Once established, the Master Broker works with its broker partners globally in communicating the service requirements and risk management strategy. These components are established between the Parent Company and the Master Broker and based upon the pre-established insurance program objectives and strategy.
The global insurance program services:
- Master Broker and local servicing brokers execute the management strategy
- The Parent Company assists the Master Broker in working with the foreign subsidiaries to ensure the insurance model is administered effectively and appropriately.
Critical to program delivery is a well understood clear plan allocating responsibilities and timescales, a template for which you will find by clicking the link to the right of this page.