Alex Sardinia, Senior Vice President at Holborn, adds, “We help our clients identify potential expected areas of exposure including emerging risks and the inflationary impact on losses.” It is Holborn’s innovative services that help earn its reputation as an established leader in the reinsurance brokerage industry. “Our culture has always focused on clients, working as one team to deliver the whole spectrum of analytics, traditional brokerage services, claims expertise, and advice.”
The key to staying current is the ability to track large losses that can impact clients. “Over the past two years, Holborn has developed an internal referencing mechanism that enables it to identify losses that match specific occurrence criteria.” This proprietary internal system is utilized in post-loss scenarios to monitor claims payment performance, helping Holborn optimize its clients’ claims collection process.
Alex and Anthony Ginetto, Assistant Secretary of Claims and Accounting, regularly communicate with the leading claims organizations across the insurance and reinsurance industry. The duo has immense knowledge and experience regarding the latest updates in the industry, which they routinely share with Holborn’s clients. Alex recently served as the President of the International Association of Claims Professionals (IACP) and Anthony serves on the Education Committee of the Intermediaries & Reinsurance Underwriters Association (IRUA).
Unlike other reinsurance intermediaries who seek scale and uniformity in their business practices with all clients, Holborn tailors its services to each client’s specific requirements. “We avoid the concept of ‘one-size-fits-all’ and develop solutions that accurately address our client’s challenges,” adds Ginetto.
Our culture has always focused on clients, working as a single team to deliver the whole spectrum of analytics, traditional brokerage services, claims expertise, and advice
Holborn develops an intimate understanding of the insurer’s business, strategic priorities, operating philosophy, key-success metrics, claims requirements, and critical processes. “At Holborn, our claims professionals are knitted into the fabric of our client team. Each client team member has their role and voice in delivering the very best solutions to our clients,” explains Sardinia.
The August 2020 Iowa derecho, which Holborn estimates the industry insured losses to be greater than $5bn, proved an excellent test for Holborn’s clients to deliver on their policyholder promises to swiftly settle their claims.
The derecho severely impacted several of Holborn’s largest clients, with its damages equivalent to a category-2 hurricane making landfall in Iowa and impacting several Midwestern states. Several clients could neither contact their policyholders nor reinsurers due to power outages and communication lines being destroyed. Holborn’s executives and Account Services Team stepped in to assist clients in identifying initially projected losses and facilitated expedited claim settlements. The claims payment performance of reinsurers was exemplary, providing significant relief to Holborn’s clients during a difficult and unprecedented time. “The fact that a lot of reinsurers were willing to work with us and provide quick settlements is another testament to how we have developed long-term trust-based and performance-based relationships with our clients and their reinsurers,” extolled Ginetto.
Holborn’s collaborative approach integrated with cutting-edge solutions has been the key to their success for over 100 years. Holborn’s offerings include advanced analytic tools, global market access, and responsive services with a commitment to integrity and focus on long-term trust-based relationships. “We are continuously developing our capabilities to understand better how to improve and streamline the claim collection processes and the overall claims experience for our client-partners,” concluded Sardinia.