Business insurance column (1): Why a business insurance adviser matters

This issue's interview guests

Vincent Hsu and Cecelia Lau, senior insurance advisers at New Zealand insurance broking firm Rothbury

Vincent is a commercial insurance adviser and Asian insurance adviser manager at Rothbury. With more than a decade in the insurance industry, he has provided high-quality, professional broking services to countless local small and medium-sized businesses. He is committed to delivering excellent service to all clients, treating each with care and tailoring the best business risk solutions to their needs.

Cecelia has worked in insurance for 17 years and joined Rothbury in 2004. Over the years, her extensive industry knowledge and outstanding professional service have earned the trust and lasting loyalty of many clients. She serves individuals and businesses across a wide range of industries and has built a substantial client base.

YIJU

Q1

There are many commercial insurance broking firms in New Zealand today. What has enabled Rothbury

to remain a favourite with clients over the years?

What should our readers consider when choosing a business insurance adviser?

Vincent: Rothbury has been an insurance broking firm for more than 70 years. We have 21 offices across New Zealand, with a thorough understanding of local business conditions and the insurance needs of local commercial clients. Our insurance advisers are locals who live in the same communities as their clients, and all our offices have dedicated claims advisers to help clients through the entire claims process. We make sure clients receive personalised service and high-quality professional advice. As insurance brokers, we always put clients first. Those are probably the reasons our clients place such trust in us.

When choosing business insurance, it is worth looking at the products a broking firm offers. Every business is unique, and its insurance should be too. At Rothbury, our insurance advisers tailor cover to each client's particular circumstances and needs, helping them make the wisest investment. 

Cecelia: When choosing an insurance adviser, I recommend first finding out about the broking firm's service standards and claims process. At Rothbury, when clients need to make a claim, we advise them on the scope of their cover and act on their behalf to help submit claim documents to the insurer. We follow the claim throughout, keep clients informed of the latest developments, speak up for them and protect their best interests until the claim is concluded. These are all services we promise our clients at Rothbury. Our success depends on the long-term relationships we build with each client.

 

YIJU 

Q2

Not all insurance broking firms have a dedicated Asian team.

Could you tell us why Rothbury established one?

 Vincent: We established the Asian team to serve our clients better. The 2018 Census showed that New Zealand's Asian population had exceeded 700,000, accounting for 15% of the total population, an increase of 230,000 since the previous census in 2013. Chinese people make up the largest share of the Asian population. According to the latest census, approximately 250,000 Chinese people live in New Zealand. Survey findings on income sources show that nearly 30% of Chinese people receive income from self-employment or running a business.

As the number of new investment and business migrants continues to grow, more Chinese entrepreneurs need business insurance to protect their operations.

However, because business practices and culture in New Zealand differ from those in their countries of origin, Chinese business owners' awareness, understanding and knowledge of business insurance remain relatively limited compared with the mainstream market. Language is another reason many Chinese entrepreneurs seek professional help, particularly with more complex communication such as claims.

To meet Asian clients' insurance needs, we established the Asian team in 2018, further improving customer satisfaction. It has now grown into New Zealand's largest commercial insurance broking team serving the Asian market. In the last financial year, the Asian team ranked first in Rothbury's customer satisfaction survey. We are very proud of this and will continue to put clients first, maintaining consistently professional service and an ever-improving customer experience.

 

Looking for professional advice on business insurance?

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to contact Rothbury's Asian insurance broking team