Avion offers wholesale aircraft insurance options which allow independent insurance brokers to use Avion’s insurance coverage for their pre-existing client base. If a life insurance broker has a client who needs aviation insurance, Avion will act as a wholesale insurance agent which allows the life insurance broker to still provide the policy but also to strengthen their relationship with their customers. This process is also referred to as insurance “co-brokering.”
Why Wholesale Aviation Insurance?
The primary advantage of wholesale aviation insurance is that insurance brokers can remain specialized while furthering their business relations with their clientele. Since aircraft are expensive and can often be considered a luxury item, aviation insurance is far less common than other types of insurance. Rather than referring their customers to another business, Avion allows the broker to purchase wholesale aviation insurance policies and sell it to their customers, with whom they already have a good working relationship. By using Avion to provide the coverage, brokers can reduce or eliminate the need for their customers to shop anywhere else.
How Does It Work?
Generally speaking, an insurance broker will have a customer who is in the market for aviation insurance coverage. The broker will determine the types of coverage needed by his or her client. The broker will then purchase a wholesale aviation insurance policy from Avion. Next, the broker will then package the coverage appropriately and sell it to the customer. The broker continues to manage the customer’s policy, as if it was just another account, but Avion underwrites all of the policies. At no point in the process will the customer interact directly with Avion.
What Types of Coverage Are Available?
Avion offers a wide variety of wholesale aviation insurance options, both private and commercial. Plans are available for everything from storage damage insurance to aviation workers compensation insurance. Whatever the client’s needs, a customized plan can be put together to create the specified type of coverage. Any type of plan can be sold utilizing the wholesale insurance arrangement, allowing retail brokers to provide more comprehensive coverage to their existing customer base without specializing in aviation insurance.
If you are an insurance broker or an insurance company looking to purchase wholesale aviation insurance, call Avion today to speak with a highly qualified agent. He or she will be able to provide you with specific details regarding the exact process of purchasing wholesale aviation insurance on behalf of your clientele.