5 Ways An Insurance Broker Can Help With Risk Management And Assessment

5 Ways An Insurance Broker Can Help With Risk Management And Assessment - Gargash Insurance 17 Sep, 2022

Choosing the right insurance broker is very important. Here are the 5 ways how an insurer can help you with the right risk management and assessment

Risk management and Insurance Brokers

Choosing the right insurance for yourself, your family or your business can be an overwhelming experience. There are an endless number of policies offered by a host of insurance companies in the UAE. Selecting the right plan can be challenging since every insurance company has their own terms and conditions. This is where insurance intermediaries or insurance brokers come in, they play an important role in ensuring you find the best policy for you. They are also able to negotiate better terms and lower premiums, alongside they also offer claims assistance. The best insurance brokers in the UAE can help assess your personal or business risks and requirements and suggest the most suited plan.

Quick Read Section

  • Role of an insurance broker in the UAE
  • How they can help in risk assessment and management


Insurance brokers are ahead of insurance companies as far as their services are concerned since they are the link between the customers and insurance company. Here are five ways they can help clients manage their risks:

  1. They represent client interest:

    An insurance broker will only suggest policies keeping your needs in consideration. They are meant to help you find the right plan for your liabilities – they work for you not the insurance company. They have access and information about insurers and policies beyond the mainstream ones that are advertised. Brokers sell insurance as a service rather than fitting clients into the product.
  2. They assess risk and audit policies:

    An insurance broker will help the client by identifying their risks and liabilities and suggest/build a comprehensive plan that insures the client against them. Their main role is to analyse your risks and evaluate ways to manage them. This helps you make an informed decision.
  3. They help with cost – cutting:

    Insurance brokers in the UAE keep up with all risk-related trends and help you avoid common mistakes. This helps reduce risk-related losses as well and subsequently cuts down costs. Over time, they help reduce the cost of premium as well since they can negotiate prices with the insurance company.

  4. They carry out risk profiling:

    For businesses - as part of the risk profiling process, previous claims and losses of the business are analysed in order to predict and manage future risks. This helps adapt to advancements in the industry and modify the insurance policy accordingly. Brokers are also equipped to assess which risks need to be covered. The client’s risk profile is like a snapshot which makes this process easier.
  5. They have a business continuity plan:

    While operating a business it is important to be prepared to deal with any mishaps along the way. Your insurance broker can prove to be of major help in such situations since they have all relevant details about your company’s risk profile and trends. They will help you devise a contingency plan unique for your business in case of an incident. This will contain a crisis management system to allocate responsibility in a fair manner.


Insurance brokers in the UAE have unparalleled industry experience which can protect you and your business from threats and vulnerabilities. Their main responsibilities extend beyond recommending insurance policies. Brokers have a robust procedure of risk assessment that uses past losses and experiences to analyse the current concerns and predict future threats. Using this information, they can suggest risk management measures. These are tailored to your organization’s requirements and work towards protecting your business.

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