{"id":1793,"date":"2018-10-05T09:46:34","date_gmt":"2018-10-05T01:46:34","guid":{"rendered":"https:\/\/www.pacificprime.hk\/blog\/?p=1793"},"modified":"2018-10-05T09:46:34","modified_gmt":"2018-10-05T01:46:34","slug":"how-to-secure-school-insurance-through-a-broker","status":"publish","type":"post","link":"https:\/\/www.pacificprime.hk\/blog\/how-to-secure-school-insurance-through-a-broker\/","title":{"rendered":"How to secure school insurance through a broker"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As a member of the management team in an educational institution, you are responsible for the school\u2019s daily operations. You understand that when the unexpected happens, you must have a risk management plan in hand and ensure that every perilous situation will be handled fast and efficiently without any unnecessary delays. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But what if you don\u2019t know all the risks that may affect your school&#8217;s reputation, operations, and financial stability? What if you are not sure if the price offered by the insurer is correct? Insurance brokers, such as <\/span><a href=\"https:\/\/www.pacificprime.hk\/about-us\/\" target=\"_blank\" rel=\"noopener\"><b>Pacific Prime Hong Kong<\/b><\/a><span style=\"font-weight: 400;\">, provide significant aid in choosing the right school insurance solutions that meet the school&#8217;s needs and budgets, and most importantly, protect the school\u2019s assets, employees, and finances. \u00a0<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-4' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.hk\/insurance-plans\/business-insurance\/?campSource=PPHK-Blog&utm_source=blog&utm_medium=content_banner&utm_campaign=Blog_Banner&utm_content=company\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1280\" src=\"https:\/\/i0.wp.com\/www.pacificprime.hk\/blog\/wp-content\/uploads\/2022\/12\/WP-Banner-revamp-final-20221207_4.-Business-final.jpg?resize=700%2C303&#038;ssl=1\" alt=\"Company insurance banner\" width=\"700\" height=\"303\" data-recalc-dims=\"1\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Why should private and international schools choose to work with insurance brokers?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">School risks can be complicated, and working with a reputable and experienced insurance broker, such as Pacific Prime Hong Kong, can bring schools a wide array of benefits. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The ability to <\/span><b>compare multiple plans from multiple insurers<\/b><span style=\"font-weight: 400;\"> is the main advantage of securing a policy plan via the broker company. Brokers will not only help you to understand the differences between plans such as the solutions offered, sums insured and exclusions but also help to <\/span><b>negotiate premiums and benefits<\/b><span style=\"font-weight: 400;\"> to tailor to the school\u2019s specific needs. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another benefit of choosing school insurance via a broker is that the intermediary works as your insurance and risk management <\/span><b>adviser, free of charge<\/b><span style=\"font-weight: 400;\">. A good brokerage company will go through all the school insurance solutions and help you identify the real needs and threats that your organization should get coverage for. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quite often brokers offer a wider range of extra services for their clients. For instance, Pacific Prime Hong Kong has developed a special <\/span><b>employee benefits portal<\/b><span style=\"font-weight: 400;\"> for HR Managers, should they choose to cover medical care for the school\u2019s employees. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our advisers will also help you to <\/span><b>analyze claims data<\/b><span style=\"font-weight: 400;\"> and provide feedback on the utilization of the plans. In fact, you don\u2019t even have to worry about submitting claims, since we have a <\/span><b>dedicated claims team<\/b><span style=\"font-weight: 400;\"> that will take care of them on your behalf. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Last but not least, insurance brokers want to make sure you are happy with the plan and the service. They will <\/span><b>perform a plan review<\/b><span style=\"font-weight: 400;\"> and suggest adjustments upon renewal time as well as advise you whether to continue with the current one or it\u2019s a time to move to a new policy.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-5' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.hk\/compare-quotes\/step-one\/?campSource=PPHK-Blog&utm_source=blog&utm_medium=content_banner&utm_campaign=Blog_Banner&utm_content=general\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1283\" src=\"https:\/\/i0.wp.com\/www.pacificprime.hk\/blog\/wp-content\/uploads\/2022\/12\/WP-Banner-revamp-final-20221207_5.-General-final.jpg?resize=700%2C303&#038;ssl=1\" alt=\"General insurance banner\" width=\"700\" height=\"303\" data-recalc-dims=\"1\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the key steps involved in securing school insurance through a broker?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To ensure the smooth and thorough plan identification, selection and implementation, <\/span><a href=\"https:\/\/www.pacificprime.hk\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Pacific Prime Hong Kong<\/span><\/a><span style=\"font-weight: 400;\"> follows the below four key steps when meeting with a school\u2019s representatives. You can learn more about our approach on our <\/span><a href=\"https:\/\/www.pacificprime.com\/corporate\/our-partners\/our-clients\/schools\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">corporate website.<\/span><\/a><\/p>\n<h3><span style=\"font-weight: 400;\">Step one &#8211; Initial needs assessment and analysis<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Before presenting you with an offer, a broker has to perform a detailed analysis of the school&#8217;s needs and potential threats. This is a crucial step in the process as both the broker and you must fully understand the school&#8217;s needs and scope of the solutions available.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The initial needs assessment and analysis will usually include: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">An onsite visit and school tour by a broker; <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Questions regarding school facilities, staff, environment, assets, operations, activities, past insurance experience, current insurance status (if any), and other relevant questions; <\/span><\/li>\n<li><span style=\"font-weight: 400;\">A review and analysis of your current insurance policies (if applicable).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Only with a set of this essential information can a broker move to the next stage of the process. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Step two &#8211; Plan design<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">At this stage, brokers will utilize their market knowledge to design the right coverage solutions based on the school&#8217;s needs. A broker will present you with a narrowed option of plans from different insurers for you to compare. Depending on your insurance needs, plans can be divided into employee benefits section and corporate insurance solutions. This is also a time for you to ask questions about different levels of coverages, premiums, and even insurers. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Step three &#8211; Plan review<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once you have identified a list of preferred insurers, a broker will help you review your options. At this stage, the intermediary will first rigorously benchmark your selected solutions and advise you a plan(s) to pursue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After that, a broker will develop an RFP &#8211; Request for Proposal to the insurers, a document that will serve as a negotiation tool between the broker and the insurance company. \u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Step four &#8211; Plan implementation and administration<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Implementing an insurance policy efficiently can be as important as choosing it in the first place. This step includes commencing the coverage timely as well as help with devising a communication strategy to educate all relevant parties. Pacific Prime goes beyond just that and also helps to manage and administer the plans for you, making sure your school gets top value out of your coverage. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The supplementary services included in the process of implementing and managing the policy are as follows: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Simplification of the application process<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Employee and management orientation and Q&amp;A sessions<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Contract assistance<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Service team introductions<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Claims assistance <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Single point of contact for the duration of the policy<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Find out what kind of insurance solutions your school needs by downloading Pacific Prime\u2019s <\/span><i><span style=\"font-weight: 400;\">School Insurance Guide 2018-2019<\/span><\/i><span style=\"font-weight: 400;\">. <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As a leading international school insurance broker, our team of specialists at Pacific Prime have created the <\/span><strong><a href=\"https:\/\/www.pacificprime.com\/corporate\/resources\/school-insurance-guide-download\/\" target=\"_blank\" rel=\"noopener\"><i>School Insurance Guide 2018-2019<\/i><\/a><\/strong><span style=\"font-weight: 400;\">. In it, you can expect to find a wealth of information that the school managers, HRs and administrators will find useful when deciding on the new insurance policy. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The sections are divided by the essential and recommended school insurance solutions in a clear and easy-to-digest way. The essential school insurance solutions are those that we have identified as the primary line of defense that every school should obtain to avoid significant business interruptions and financial losses. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The recommended solutions section presents more advanced policies that don\u2019t have to apply to every school and are highly dependent on the school\u2019s actual needs. <\/span><a href=\"https:\/\/www.pacificprime.com\/corporate\/resources\/school-insurance-guide-download\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Download our complimentary guide today<\/span><\/a><span style=\"font-weight: 400;\"> and find out what kind of insurance solutions your school needs.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-7' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.com\/corporate\/?campSource=PPHK-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=Blog_Banner&utm_content=corporate\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1278\" src=\"https:\/\/i0.wp.com\/www.pacificprime.hk\/blog\/wp-content\/uploads\/2019\/06\/HK-BANNER-Business.jpg?resize=700%2C303&#038;ssl=1\" alt=\"Corporate insurance banner\" width=\"700\" height=\"303\" data-recalc-dims=\"1\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Secure school insurance with Pacific Prime <\/span><\/h3>\n<p><a href=\"https:\/\/www.pacificprime.hk\/contact-us\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Talk to our school insurance experts today<\/span><\/a><span style=\"font-weight: 400;\"> and let them guide and assist you in the whole process. From determining your needs, negotiating price and benefits to the ongoing support throughout the year, Pacific Prime Hong Kong is here to make the process of securing school insurance simpler! <\/span><\/p>\n<p><a href=\"http:\/\/www.pacificprime.hk\/contact-us\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Contact us today<\/span><\/a><span style=\"font-weight: 400;\">, and we\u2019ll go through the entire process of securing school insurance with you, making sure you are making educated decisions that serve to protect your educational institution. <\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a member of the management team in an educational institution, you are responsible for the school\u2019s daily operations. You understand that when the unexpected happens, you must have a risk management plan in hand and ensure that every perilous situation will be handled fast and efficiently without any unnecessary delays. \u00a0 But what if &#8230;<\/p>\n","protected":false},"author":14,"featured_media":1797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Why should private and international schools choose to work with insurance brokers?","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[130,2],"tags":[789,790,788,1021,1033,1018,1019,1045,1028],"class_list":["post-1793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-insurance","category-insurance","tag-ban_cor","tag-ban_gen","tag-cta_cor","tag-hong-kong-school-insurance","tag-international-school-insurance","tag-school-insurance","tag-school-insurance-guide","tag-school-insurance-guide-2018","tag-school-insurance-plan"],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to secure school insurance through a broker - Pacific Prime<\/title>\n<meta name=\"description\" content=\"Why and how can educational institutions secure a school insurance in Hong Kong? 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