Using the insurance brokering services contract

Using this contract

• 1

  Determine your requirements

  Agencies can purchase from any or all of the providers on the insurance brokering services panel. When deciding on the best choice for your agency, you should consider the following:

  • Which brokering services does your agency currently use?
  • Who is/are your current provider(s)?
  • What information do you currently have available (for example, your agency’s risk profile, current insurance policies, claims performance data)?
  • What value are your current brokering services fees per annum?
  • What services do you need now and going forward?

  This is a good time to consider your agency’s requirements, longer term risk transfer strategy and priorities.

  Continue to step 2
• 2

  Assess the Panel

  Check each provider’s service offerings for brokering services, as each provider offers different services and has strengths in different areas. Also reference the AoG Rate Card to compare the hourly rates across all providers.

  When you’re clear about your current contracts, your current and future needs, and how they match with the scope of this contract, engage with relevant providers and get more details about the services they can offer.

  Insurance brokering services providers

  Continue to step 3
• 3

  Decide on a selection process and choose a provider

  You should review your agency’s internal procurement policy to determine what secondary procurement processes are suitable.

  You may select a provider on the basis of expertise, quality, capability, capacity, price and public value, performance data during the contract term, or by an alternative secondary selection process which you deem appropriate.

  Continue to step 4
• 4

  Engage a provider with an insurance brokering services order (IBSO)

  You can find the IBSO template in the contract documents section on the main contract page.

  Make sure your IBSO includes:

  • timeframes for delivering the required services
  • services required
  • pricing and invoicing terms
  • a completed conflict of interest declaration.

  Keep a copy of the signed IBSO in your agency’s records. Set up reminders to proactively manage a provider’s delivery of your agency’s requirements, and to meet any of your own obligations (like payment of provider invoices).

  Continue to step 5
• 5

  Complete a post engagement survey

  The Insurance brokering services team will send you a survey to complete after the completion of services or following an insurance renewal period.

  Under the terms of the MoU, you must complete the provider performance survey. The survey is short – you only need to answer 5 questions about your agency’s experience. We use this feedback to monitor providers’ performance and generate an average performance rating for each provider.

  If you have any questions, email the Insurance brokering services team.

  End of process