QBE Hong Kong always strives to provide the most flexibility and competitiveness to our business partner, exploiting and enhancing any opportunity to win the deal. Over months of efforts, our teams have made significant initiatives on Qnect and we would like to update you in one go as follow:
Over the past months, we have received feedback from our intermediaries our Qnect SME and BIZ products are priced on the high side which does not help them close more business with their clients. Starting from 15 Oct 2020, our default commission for new business will change to 30% which means a lower premium for your clients and hence increase your chances of closing the deal. We have also introduced premium adjustability through varying the commission levels. While commission for new business will be 30%, you can adjust downwards to make the premium offer even more attractive for your clients. If you think our premiums are on the low side, you can adjust your commission upwards to a maximum 40% and the premiums will adjust correspondingly.
It is known in the market that many insurers do not want to do EC risks on a standalone basis. They would require it to be bundled with another product such as Property or Liability. With QBE, we believe in thinking and doing things differently. Starting from 1 Sept 2020, you will be able to quote for standalone EC risk through our Qnect BIZ! We know that many clients do not need other risks except EC and we do not want you to miss out on these clients.
QBE has launched Qnect products online which covers personal lines and both BIZ and SME products. However for products not already on Qnect platform, our intermediaries usually have to email us separately either through the centralised email address or directly to our specialty underwriters. Quotations through multiple channels makes you difficult to track all your quotes and impact your work efficiency. Starting from 1 Sept 2020, all quotation requests can be submitted through Qnect, even for specialty risk products. Through a single point of quotation entry on Quotation Dashboard, you can view your quotation submissions and able to track the progress status online. You can also attach documents to particular quotation requests, ensuring that you do not miss any information on any quotation risks.
It is always said the one who can close a deal but can’t collect the premium is less smarter than the one who fails to close one. QBE wants to enable our intermediaries to close the deal and collect the premiums at the same time! Starting from 1 Sept 2020, we will launch our Pay Fast which allows all of our intermediaries to issue a one-time payment link to their clients to pay the premiums online in a secured and speedy manner. Payment can be made instantly without the need for cheque and papers. Clients will also get instant confirmation of payment, giving further assurance on policy protection.
In QBE, we strive to make things better for you. We hope you are delighted with the above 4 great news! Please discuss with your respective Agency Manager if you have any queries on the above.
Alternatively, you can now register for a 60 mins’ online session and our colleagues can quickly walk you through the 4 initiatives. Kindly click on the link to register your interest in the class.
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Feel free to contact your QBE Agency Manager if you have any feedback or require any support.
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