Services - Basebenzi Insurance Brokers

An Authorized and Registered Financial Service Provider
FSP No.: 44202 Company Registration : 2012/098932/07
" We insure your precious hard earned assets with competitive premiums and reasonable axess "
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BASEBENZI INSURANCE core business is to provide advice
and intermediary services on short term insurance products namely, personal lines ,
and commercial as well as corporate.

Analysis of risk
Before commencing any placement or providing advice to the client, BASEBENZI INSURANCE undertakes a full analysis of the risks faced by the client. This involves an analysis of The client’s business to determine all risks faced by its operations, whether these can be mitigated by short term insurance or not. This analysis is conducted in conjunction with the client, and builds on any risk analysis already performed by the client. The analysis forms the basis of the proposals made to the client, in terms of placement of various short term insurances to mitigate risk where possible, as well as proposals on other risk reduction actions which can be put in place.

Placement of short-term insurance

Once an appropriate short term insurance program has been developed from the risk analysis, BASEBENZI INSURANCE ensures the placement or renewal of the required insurances as follows:

  • Assisting the client in the selection of acceptable underwriter(s)
  • Collection of placement or renewal data
  • Marketing the cover to national and international underwriters
  • Placement or renewal of cover
  • Finalisation of all placement or renewal documentation

Ongoing risk analysis and monitoring

BASEBENZI INSURANCE broking capability is state of the art in South Africa. These broking and consulting resources provide the following analyses, amongst others, for our short term clients on a monthly, quarterly or annual basis as appropriate:

  • Updating of initial corporate risk analysis report
  • Claims analysis including forecasting, trend analysis, reserving and future risk mitigation and management advice
  • Premium analysis and allocation
  • Risk budget analysis
  • Benchmarking analysis against similar South African and international
  • companies
  • Underwriter rating and accreditation reports

These analyses take into account modern risk management techniques and are presented to the company’s Risk Services department and senior management on an ongoing basis. The aim of BASEBENZI INSURANCE risk analysis and monitoring service is not only to ensure that the most appropriate short term covers are in place, but also, over time, to assist the company in mitigating its risks to such an extent that less cover is required.
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