Business Insurance

WHAT ARE THE MAIN INSURANCES FOR THE INDUSTRY?

Published

2 years ago

September 12, 2022

Sunny Wars

With more and more technology, protecting industrial equipment is essential for business continuity

There are several types of industry: food, textile, chemical, metallurgical, paper and cellulose, among others. Of course, each one has specific needs, but in all of them the protection of individuals and equipment involved in the operation is fundamental to avoid possible incidents and, consequently, damages to the business in question.

Regardless of the segment, technology is increasingly present in industrial operations. While facilitating and optimizing production, machinery and technological equipment also need to be adequately protected. Therefore, having different types of insurance is essential to avoid possible losses and ensure the continuity of any company operating in the industrial sector.

Why rely on insurance for the industry?

Essential for the protection of any company’s business, insurance seeks to prevent problems for the insured, avoiding possible losses for the company. In the case of industries, it is important to have coverage for different types of risks , such as theft, theft, fire, damage to third parties, problems with machines and equipment , cybernetic invasions, among others.

Industry 4.0 and the insurance sector

In general, Industry 4.0 comes to reformulate processes and bring greater technology and practicality, providing industrial operations with a more modern, safe and automated production. This automation within the industries is something that has been happening and opening space for the redirection of employees in new functions, leaving the “heavier” work for the machines.

Even following common safety rules and procedures, in addition to the technical training of employees, it is still extremely important to take out insurance to protect all industrial equipment and the company’s own assets, with the aim of mitigating risks.

What are the main risks for the industry?

In any industrial activity, there are several types of risk to which the owner and the employees themselves must be aware. See some examples:

Theft

In general, industrial activities are carried out in large spaces, sometimes in places further away from the city and which are subject to theft, from invasions to small thefts.

Fire

Even with all protective measures, the risk of a fire always exists, especially in an industry that works with flammable products.

accidents

A work accident during operation can cause injuries to the employees themselves and also to third parties, such as external service providers.

equipment damage

Whether due to human or technological failure, the damage of industrial equipment can even paralyze the company’s production, causing great losses.

cyber invasions

With the increasing use of technology in the industry and a lot of IoT (Internet of Things) equipment, cyber intrusions become a real risk to operations.

What are the main insurances for the industry?

A world reference in large industrial risks, there are several types of insurance aimed at different types of industries, offering protection for different risks.

Check out some of solutions for industries:

General Civil Liability Insurance

General civil liability insurance was designed to meet different types of industry, the insurance offers coverage for various losses and damages to third parties that a company is subject to, from basic modalities to combined policies that cover the universe of corporate action.

Contaminated Products Insurance

When we talk about the food and beverage industry, the risk of contamination is one of the biggest concerns.

Contaminated Products insurance guarantees the payment* of the company’s own direct losses, related to food and beverage contamination, helping its customers to control the effects generated by the withdrawal of products from the market, covering costs such as transport, storage, destruction , product replacement and redeployment, to crisis management and consulting expenses, as well as securing compensation* for business interruption caused directly by the incident.
* With the analysis of the claim and as long as there is coverage according to the contracted product.

Cyber Risk Insurance

Cyber Insurance With the advancement of technology in the industry and the increase in the number of employees working remotely on their home networks, cyber risks are increasingly a concern in this type of operation.

Insurance is an additional layer of protection for companies that aims to support financial losses resulting from malicious cyberattacks, or even from incidents resulting from errors or negligence caused internally in the company, which result in data leakage and other damages related to the confidentiality of information.

Equipment Insurance

Equipment insurance includes Yellow Line Equipment Insurance and Green Line Equipment Insurance , which protect against accidental external damage during operation.

Transport Insurance

Transport insurance in the area of transport and logistics is essential for several industrial operations, and it also brings several risks of incidents.

Property Insurance

Property insurance is aimed at various types of business, including large industrial operations, this insurance protects against material damage . In addition to basic insurance for fire, explosions and lightning strikes, offers complementary coverage for natural catastrophes such as floods and windstorms, electrical damage and the breakdown of industrial machinery, including loss of profits , that is, the loss of revenue due to the stoppage of an activity.

There is also protection for the insured’s buildings and assets from minor events, such as a vehicle impact, accidental leakage of a fire hydrant or automatic shower, theft of goods, even glass breakage. The scope of coverage is broad and varies depending on the insured’s occupation.

Personal accidents

For any industry, it is critical to be protected in the event of an accident. Having personal accident insurance is financial protection for the insured and his beneficiaries. There are over 30 coverages, ranging from hospitalization and dental care to disability or accidental death , in addition to a package of assistance that allows immediate use of the insurance and its benefits.

It is reassuring for the business to know that if something happens to a customer, employee or service provider, full support will be provided.

Business Insurance

DO YOU KNOW CORPORATE TRAVEL INSURANCE? SEE THE BENEFITS OF THIS PROTECTION FOR COMPANIES

Published

2 years ago

September 12, 2022

Sunny Wars

Traveling for work is one of the needs of executives and professionals in order to leverage business. In general, the company includes the costs of these trips in its financial planning , such as the purchase of tickets, accommodation, in addition to food expenses.

However, they can always have extra expenses with unforeseen incidents that may occur during the employee’s trip, whether due to lost luggage, medical expenses in eventual hospitalizations, or even more serious situations.

Responsible for the integrity of the employee, the company is obliged to bear the costs in cases of incident during this period. In order to avoid large expenses resulting from unforeseen situations, it is essential for the company to take care of itself with insurance that offers the necessary assistance to the organization and the employee in different needs.

What is Corporate Travel Insurance?

Within the Travel Insurance segment, there is Corporate Travel Insurance, a specific product aimed at business travel, with various coverages for unexpected events or illnesses. Currently, most companies offer corporate travel insurance to their employees.

Others, however, are still not aware that the risk of an incident can impact both the integrity of the employee and the company itself.

A critical aspect that must be kept in mind is that employees who travel for work are in business activity, in which the organization itself is responsible for these people and procedures, and the adoption of insurance brings much more peace of mind for both sides.

How does Corporate Travel Insurance work?

There are two types of Corporate Travel Insurance, always seeking to offer the product that best fits the needs of each client:

Bank of days (ATP)

Product suitable for companies that want to control the number of days used in travel.

The customer hires a certain amount per year and, as he uses it, the days used are deducted from the available balance. Through an online tool, the customer can also issue reports on the trips taken.

Customized

The coverage of this insurance is established with the contracting company according to the executives’ travel history in previous years.

With this product, the customer has the convenience of having a special plan for the needs of his company. It is also annual, but has a more competitive price compared to the Bank of Days for medium and large travel demands.

The proposal is customized based on the information declared by the client (annual number of travelers, average travel per executive and length of stay on the trip).

It is a great benefit for the company’s travel management, as there is no effort and operational risk of issuing certificates for each trip.

Pay per Use

The main advantage of this product is the payment of business travel insurance only after use and according to the number of days informed in the previously issued insurance certificate, unlike what happens in the Bank of Days modality.

What is the Corporate Travel Insurance coverage?

Check out the insurance coverage below, which guarantees a work trip with complete peace of mind:

travel inconveniences

Trip cancellation or interruption; delay, loss or theft of baggage; connection loss; flight delay.

Personal accidents

By violent act; on public transport; in natural disasters; for ATM theft; medical and hospital expenses; emergency dental expenses; Pharmaceutical expenses; accidental death in travel and total or partial disability in travel.

Transport and Accommodation

Medical removal or repatriation; funeral repatriation; extension of stay; companion in case of prolonged hospitalization; accommodation and return of the companion; return of the insured; return of minors; early return for residential incident.

Dependents

Optional inclusion of spouse and children.

Legal Aid

Sureties and legal expenses; legal expenses.

How to reduce costs in corporate travel?

In addition to having the protection of Corporate Travel Insurance, it is important that the company has an organized plan to optimize costs throughout the business trip process, from the purchase of the ticket to the employee’s stay and travel at the destination.

Here are some tips from experts to reduce corporate travel costs:

Buy tickets at the right time

Generally speaking, more thorough planning is required when it comes to corporate travel than leisure travel. With this planning, it is possible to define in advance which and how many employees will travel in the future and, thus, purchase tickets in advance.

Be aware that in some cases, corporate travel may coincide with high tourist season to certain destinations and tickets may have a higher value than usual. Check with your internal customers if there is a possibility of changing the date or look for alternative times.

Don’t buy tickets too early

Airlines, for example, are starting to charge higher fares to reserve seats on tickets purchased far in advance because of seat reservations.

For domestic flights, the ideal is to buy tickets 30 days in advance. When it comes to international flights, it is best to purchase 90 days in advance.

Choose strategic partners

In addition to airfare, travel at the destination itself often consumes a large part of the travel budget. To reduce this cost and offer more peace of mind and security to your company’s employees, establish partnerships with urban mobility providers.

This tip also goes for hosting, which is another expense that can eat up a big chunk of your budget.

Partnering with hotel chains can, for example, allow the daily rate not to fluctuate due to the high season and also allow accounts to be settled only at the end of the month.

Have an effective travel policy

A good travel policy should make it clear which expenses are covered by the company, as well as their maximum amounts. This allows the employee to choose, within the amount he can consume, what is best for him, while allowing the company to save.

In addition, the company must have a travel approval process in order to establish which trips are actually needed.

If the volume of travel is large in your company, hiring a specialist or an outsourced partner can be an advantage, as this team will plan in advance all the details of the trip, as well as be aware of discounts and promotions.

reward the economy

Letting the employee choose how to spend, within a pre-established limit, can bring savings to the company.

This cost cutting can be even greater if combined with a savings reward policy, which can range from shopping vouchers to days off.

This policy creates healthy competition among traveling employees and reinforces a culture of austerity within the company.

Business Insurance

Online insurance: after all, is it possible to get insurance via the internet?

Published

2 years ago

September 10, 2022

Sunny Wars

Today, more and more people pay bills, stock up on supplies, buy items of clothing, schedule medical appointments and much more via the internet. In this vast digital universe, the possibility of taking out insurance online appears as one of the facilities that help to balance the numerous daily tasks. However, to acquire a coverage tailored to your needs, some factors must be taken into consideration.

To clarify the myths that naturally surround digital services and understand how to acquire an ideal insurance policy, follow this post!

How to buy insurance online?

Most brokers allow you to buy insurance online. Contact is made through the website itself and, by correctly filling out a detailed questionnaire, the client provides the information for the brokerage firm to proceed with the quotations .

It is worth emphasizing the importance of not omitting information, under the risk of contracting a useless service or losing out in the absence of any coverage.

The imprecision of the information makes the customer buy a product that does not suit their needs, leading them to pay more for poorly dimensioned coverage or to get frustrated when they need to use the insurance due to a breakdown or accident.

Thus, after the correct filling, the insurance prices will be calculated online in a comparative way or the broker will send by e-mail a proposal with the insurance companies that meet your needs and their respective values.

By knowing all the conditions, the customer will be able to choose the one that offers the best cost-benefit.

Upon agreement, the customer chooses the best payment method (automatic debit, credit card or bank slip), signs the contract and forwards it to the broker. In a few days you will receive the policy by email and also to the respective address.

This entire transaction is carried out in a few minutes — discounting the time spent carefully reading the policy conditions , so that the conditions of coverage, deductibles and shortages are properly clear.

What are the main advantages?

Among the advantages of purchasing insurance online, we highlight the benefits for those who have a busy life and need to resolve important issues, quickly and practically, but without sacrificing the quality of the contracted service. Understand:

Convenience

Access to the insurance broker’s website can be made at the most convenient time for the customer, without being restricted to business hours.

In it, it is possible to compare the pros and cons of different plans offered by different insurance companies and choose the one with the best cost-benefit.

Ease

There is no need to travel to the company’s office or wait for the broker to call. To purchase insurance online, simply fill in the form referring to the coverage of interest and choose from the service options indicated by the system. The best brokers offer support through many service channels, chat and exclusive content, useful to define the best choice.

Safety

The contracting of services over the internet has software that guarantees the confidentiality of customer data.

In addition, payment by credit card has all the necessary security. However, in digital times, having a good antivirus installed on your computer and ensuring your own digital security is also an essential measure.

What to consider before hiring?

Before choosing a broker, compare the variety and quality of insurers the company works with.

The more coverage and support services available in the portfolio, the more suitable the product choice will be. Also rate:

Reliability of insurers

Consult the website of the Superintendence of Private Insurance (SUSEP) to verify if the companies are legal.

Good insurance brokers only offer products from reputable insurance companies in providing services to their customers.

Either way, it’s important to research the histories of consumer rights websites, to assess how companies usually handle problems and support customers.

Whenever possible, choose leading companies or companies linked to market leaders, which have extensive experience and a vast customer base.

reliable indications

Talk to relatives, friends and trusted people who have already taken out insurance online. Check the morale of the brokers chosen by them on their social networks, through the comments and ratings made by customers.

Sites that feature customer testimonials about the quality of insurance and assistance services are also a good source of research.

Simple and functional platform

Choose a broker that has a simple, light and efficient navigation platform, in which the products are divided between those for individuals and those for companies.

A responsive website is also important as it makes it easy to access anytime and anywhere, allowing the user to have the same smartphone browsing experience.

Broad and easy support

The variety of communication channels (with chat, email, telephone, messaging applications, etc.) is also important, if the customer wants to clarify any doubts directly with an expert.

After all, a broker can sell its plans online without giving up traditional services.

At the same time, contacting a team of professionals that offers support and guidance for the client to make the most of the benefits of the insurance contracted makes all the difference.

This is because, often, the lack of support and clear information prevents customers from enjoying the benefits to which they are entitled.