Frequently
Asked
Questions

An insurance broker seeks to match the risks their clients want to cover with the best insurance solutions or options available from insurance companies. A good broker is not just an intermediary but works as an adviser to their clients on risk identification, risk appraisal and mitigation, contract execution, and claims management. Planwell Insurance Brokers facilitate our clients’ decisions by providing them with optimal solutions for their insurance needs in a way that is easy to understand. We also provide full support and advice during the claims settlement process and more. 

While they both work as intermediaries between clients and insurance companies, the main difference between insurance brokers and insurance agents is about who they represent. A broker works on behalf of clients to get them the best possible insurance coverage and pricing by helping them choose the best options or solutions available from a variety of insurance companies. An agent on the other hand works on behalf of one insurance company at a time, providing information that relates solely to that insurance company's products to prospective clients.

Insurance brokers are professionals who understand the products sold to you by insurance companies and the nuances and the broker will advise you whether you are adequately covered. Other reasons why appointing Planwell as your broker is beneficial include but are not limited to the following: 

You do not need to worry about your insurance placements, follow-ups, and claims. Planwell is better placed to do that for you at no cost.

Planwell will work for you by handling all your insurance matters and get paid not by you but by the Insurance Company.

It is cheaper, faster, and more efficient to insure through Planwell than doing it directly.

You can appoint Planwell to place and handle your insurances with any insurance company of your choice.

(Please read our testimonials.)

This question is similar to the one above. But the answer gives more information on broker benefits. Companies generally do not have their own insurance specialists in-house due to the cost involved in doing so and even if they do, that may not necessarily give them the best insurance solutions. And individuals may lack the time and capacity to deal directly with insurance companies. Insurance brokers understand the products of insurance companies and will advise you.

By working with Planwell, you can rely on our expertise for the best insurance cover at no extra cost to you. Further, in the event of a claim, insurance companies tend to raise issues (some of which may be legitimate). Sometimes, this could be due to an incorrect filing of the claims which would then delay or refute the claim payment. As your broker, we will guide you through the process to receive the due compensation in a timely manner.

Insurance brokers need to be knowledgeable and competent at explaining complex insurance concepts in a layperson’s terms such that their clients can easily understand.

They need to have good negotiation skills and must also be able to build the necessary rapport and/or relationships with their clients and with their contacts at the insurance companies they work with. Professionalism, typified by exhibiting a courteous, conscientious, and generally businesslike attitude whilst dealing with clients and insurance partners is the hallmark of a good broker.

The answer is no (see responses #3 and #4). Instead, the insurance broker will secure competitive premiums from a variety of insurance companies for you to choose from—and this comes at no extra cost to you. As a broker we get paid a commission by the insurance company by successfully brokering or closing the transaction.

For all your new and existing claims, just reach out to your brokers immediately for guidance if you insured through a broker.

In Ghana, premiums must be paid in full before insurance cover is provided in line with the directives of the regulator, the National Insurance Commission (“NIC”). However, as your broker, Planwell can work with you to ease the cashflow burden that the insurance premiums can place on you by advising you on the cashflow implications of various options and the covers available thereto. Schedule a free consultation.