This client is a high-net-worth individual with a substantial self-employed income. They own a diversified property portfolio valued at over £5 million, consisting of residential and commercial properties across the UK.
This individual approached Enness because they needed one policy that could cover all of their properties and allow them to deal with only one broker. Different insurers were used across all their properties, and they found it difficult to track which properties were insured by which insurer. The client required a hands-on approach and preferred dealing with a single broker rather than managing multiple policies across different providers.
The complexity of their portfolio posed several challenges. The properties were insured under various company names, and some buildings featured a multi-use occupancy. In addition, the properties had staggered renewal dates, which required regular review and management to ensure that the policies were correctly set up and in place before the policy renewal dates.
To address the client's needs and overcome these challenges, Enness implemented a tailored insurance strategy. We worked closely with the client to gather detailed information required by insurers, ensuring a smooth underwriting process and timely turnaround times by the insurer. Enness provided regular updates to keep the client informed about the progress and outlined any premium indication or policy terms that differed from their previous insurance policy(s).
Ultimately, Enness successfully consolidated the client's property portfolio under a single policy, streamlining their insurance management while providing comprehensive coverage. This unified approach simplified their insurance administration and resulted in more competitive premiums than their previous arrangements. Enness demonstrated expertise in handling complex property insurance portfolios by providing a comprehensive and personalised solution.
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