An insurance broker looks after your interests

An insurance broker promotes and looks after your interests in insurance-related matters. Howden Finland is a specialist in corporate insurance and real estate insurance with more than 100 experts at six offices. Howden’s culture and people enable us to solve even your most demanding insurance-related challenges locally and globally.

Who does an insurance broker serve?

We serve real estate companies, housing companies and corporate customers in various industries. Real estate insurance and claims handling are the cornerstones of our operations in Finland.

In corporate insurance, we have strong expertise in risk management, business interruption and dependency risks. Liability insurance and cyber insurance, together with financial lines, are key elements of our operations. We also have a strong focus on the manufacturing industry, large investment projects and infrastructure projects as well as companies that have a need for surety, structured credit and trade credit services.

We are the market leader in Finland and part of the international Howden Broking Group, which is the world’s largest independent insurance broker.

Corporate risk management internationally

We serve you locally but operate globally. If your company operates in the international markets or is planning to expand into other countries, we can help you with risk assessment and protection. Howden Group has a broad network of partners around the world and more than 12,500 professionals in more than 45 countries.

What does an insurance broker do?

As an insurance broker, Howden is independent of insurance companies. An insurance broker always serves as its customer’s representative and looks after their interests. According to the legal definition, an insurance broker works on behalf of its customer and based on a service agreement signed with the customer. Examples of an insurance broker’s tasks include:

• customer risk assessment
• specification of insurance needs
• requesting quotations from insurance providers
• comparing quotations and preparing an objective analysis
• providing unbiased information on forms of insurance, insurance premiums and terms of insurance
• issuing a personal recommendation to choose an insurance solution that best suits the customer’s needs

The operations of insurance brokers are governed at the EU level by the EU Directive on insurance distribution and at the national level in Finland by the Act on Insurance Distribution. The operations of insurance brokers are supervised by the Finnish Financial Supervisory Authority.

How do insurance brokers serve their customers?

We provide you with close support not only in risk management and insurance, but also when an accident or other losses occur. We promote and look after your interests down to the letter. Sometimes changing only a couple of words in an insurance document can have a significant effect on the insurance terms and decisions on compensation. We review these issues for you before you sign any agreements. We help you agree on the solutions that are the best for you.

Customer satisfaction is very important to us and we take personal pride in it. The history and culture of Howden, which was established in London in the 1990s, strongly influences the way we work. Exceeding the customer’s expectations and resolving even the most difficult insurance cases for the customer’s benefit is a matter of honour for us. The best solutions are achieved by us understanding our customers’ core business and, at the same time, changing the world of insurance: we help insurance companies better understand the risks faced by our customers.

“We carry out your assignments with an entrepreneurial, proactive and positive approach.”

Using an insurance broker lets you free up time for other priorities

Working with a stable and trustworthy partner makes it safe for you to focus on your core business. This reduces the time spent on insurance issues and minimises your headaches when damage occurs. Your dealings with insurance companies are made much easier by you not having to familiarise yourself with every complicated insurance document. An insurance broker stays up-to-date on changes to insurance terms and premiums as well as the development of the insurance market.

Managing risk and insurance needs, determining the appropriate scope of insurance cover, inviting competitive bids for insurance and issuing objective information in the form of unbiased analyses, issuing personal recommendations on insurance solutions, the continuous management and maintenance of insurance policies, support when losses occur and ensuring fair decisions on compensation and acting as an independent advocate for your interests – these are just some of the many services Howden provides as an insurance broker. You benefit from local and personal service as well as highly competent background resources that consider your needs and the special characteristics of your operations.

The right expertise in the right situation

Howden provides you with the right expertise in response to your key needs.  Our damage claims specialists support and guide you when losses occur. Our specialists in different types of insurance evaluate the risks associated with your business and prepare risk management plans for their prevention. Our experienced lawyers have the answers to even the most challenging questions. Our strong market position enables us to negotiate the best possible solutions for you. Our international network gives you access to specialised expertise even outside Finland’s borders.

An insurance broker strengthens your position in negotiations with insurance companies. The use of insurance brokers has increased in Finland since the 1990s. The Finnish insurance market is still rather dominated by a small number of large companies. The four largest indemnity insurance providers have a combined market share in excess of 90%. This is a highly exceptional situation compared to the international markets. Naturally, it distorts the competitive landscape and keeps the market less developed. Howden looks after your interests.

More than one million euros in appealed decisions on claims each year

When an accident or other losses occur, we support you throughout the claims process. We support you in the preparation of the notification of claim, submit the information to the insurance company and check that the decisions on claims are in line with the terms of the insurance policy in question. During the claims process, we represent you in negotiations with the insurance company, handle appeals where necessary and submit the most difficult cases to the Insurance Complaints Board for a resolution.

More than 10% of the claims decisions by insurance companies have errors. It is our job to make sure that our customers’ claims decisions are not part of that 10%. Each year, we appeal various erroneous decisions by insurance companies worth more than one million euros for the benefit of our customers.