BIBA Broker Bulletin 6
Breaking the Ice
(Having that IP conversation with your client)
One of the many benefits of OPUS travelling up and down the country to meet BIBA brokers is to elicit feedback from you. No one is better placed to tell us what’s needed to help you offer, promote and convince your commercial clients to buy Intellectual Property Insurance (IPI).
Our job is to listen and equip you with the toolkit you need to do the job.
Too many of you, it seems, are passive regarding IPI sales opportunities. That is, you will investigate providing cover for a client, if they ask. You would like to be more proactive but are reluctant to ‘have that conversation’ with your clients because:
- You don’t know what to look for in a client’s business profile that might trigger such a conversation;
- You are concerned the client might know more than you what they need and why; or
- The process to get an IPI quote for your client has been historically complex and drawn-out.
Happily, OPUS can help with all of these!
Getting straight to the point, you should proactively ‘have that conversation’ where your client’s business:
- Is one with strong designs, innovative technology, reputation and brand to protect (in any business sector).
- Is a tech-based business with software design and unique delivery systems.
- Is engineering, product design and manufacture or life-sciences.
- Manufactures or adapts existing technology or engineering to sell a unique or market-leading product.
- Has a strong and loyal customer following that is likely to buy from it again.
In all the above situations the client has important IP that it ought to protect – even if it doesn’t realise it! And when you ask the question; what would the impact on your business be if a competitor ripped-off your designs, innovations, styling or brand? And the answer is; I don’t know or recognition of considerable likely damage, OPUS is certain your client will be glad you ‘had that conversation’.
Once you have identified a need for an IPI quote our quick-quote broker portal for IPI risks known as BIBA IPS 1000 is specifically designed to strip-away the many obstacles currently existing in the IPI market and to secure your clients affordable cover for their designs, brands and creative works – please visit opusunderwriting.com/biba for more information.
Above all – please ‘have that conversation’. Your clients need protecting.
Murray Fairclough
Development Underwriter
OPUS Underwriting Limited
