At David Gray & Co. Insurance Consultants Ltd., we are an insurance consultant agency that works for you, your organization, your firm, or your client. Unlike an insurance agent, we are not tied to one vendor or insurance company for the insurance products we can offer you. As your consultant our goal is to provide you with:
· Objective assessment and evaluation,
· Current and accurate information,
· Professional advice and direction.
Our goal is to understand and analyze your needs and then work with you to provide a solution that meets your needs by selecting from the variety of programs, plans and options that are available to us.
Unlike a traditional agent working for one company, we have the flexibility to select from a variety of sources and plans in building the insurance solution that best serves your needs.
If, in the course of analysis, it is determined that the purchase of insurance is an appropriate strategy, we can help design the insurance contract(s) and work with a variety of vendors to see that your issues and interests are fairly treated in a cost-effective manner.
While reviewing your needs and preparing options, you have the opportunity to discuss what will be done, how it will be done, and how much it will cost. Work does not begin until you are satisfied with the contract and signatures affixed.
Advantages of using an insurance consultant
Greater range of product selections and flexibility
Objectivity as we are not tied to one vendor or plan option
Analysis of needs on a fee basis or bundle price basis
As an insurance consultant we can provide greater objectivity than a traditional one vendor agent or sales rep. As a consultant we can be compensated by fees, either a flat-fee per project, or by retainer, or through hourly fees, or in a bundled manner where the costs are included in a provided package. An agent is only compensated if there is a sale by commissions. The nagging question that consumers have in such a situation is, how can I fully trust advice from someone that has a commissioned interest in my decision? Certainly, some insurance agents are honest, ethical, and want to do what is best for the customer. But, the economic reality of their business is that if they do not generate a sale, they don't produce any income.
As an insurance consultantancy we are uniquely positioned to assist in evaluating in force insurance coverage. You may need to know if you have sufficient coverage, whether that coverage continues to be the best for you, or any one of a number of other factors that would help you know if you are getting the most for your insurance dollar. As a consultantancy we know how insurance works, how insurance companies administer their business, and the terminology and jargon of the industry. Using a consultant to help you analyze your current situation, the status of policies in a trust, or your responsibilities as a fiduciary with regard to insurance matters makes sense because it saves you time, frustration, and stress. You are also much more likely to "get it right the first time", which may save you time and money in the future.
It is possible that a specific, commission-free or low-load insurance contract would best suit your needs. As your consultant we can assist you in obtaining coverage under such a contract. By doing so, you may save tens of thousands - of dollars over the life of the contract. (A conventional commission-based insurance agent might not even know that such contracts exist, and they certainly would not be motivated to sell them.)