Specializing in short- and long-term insurance, gap cover and life planning, Durban-based Duwalcoe are qualified financial consultants with more than 20 years experience and who pride themselves on giving the best rates and service in the industry.
Legacy sat down to speak to Duwalcoe’s short-term insurance manager, Hannes Nel.
How did you start in insurance?
“I started by accident. I was employed by Telkom for 19 years and retrenched in 2005. A year later, my life broker Daniel Dekker, asked me to assist with the short-term division at Duwalcoe. At that time, there were only two of us in the short-term division and I decided to leave. Daniel asked me to stay on as the other person was in the process of emigrating and he need me to run the section. Since then we have grown to such an extent that we have four dedicated reps with two assistants, as well as five admin people looking after our clients.”
Any advice to new entrants to the short-term insurance broking space?
“This is a challenging field so any new entrants should equip themselves with the necessary knowledge and qualifications in order to add value to prospective clients.”
What is your view on the importance of technology when it comes to the insurance market?
“Technology is playing a bigger role than ever in the insurance market with regard to registering claims and accessing policies to do amendments. However, there is still a great need for skilled advisors that can explain and counsel clients on different products. After the product has been sold, then technology can assist the broker and client to manage the portfolio effectively.”
How long have you been working with Legacy Underwriting Managers (LUM) and how did you decide on the options for product, access to multiple underwriters and your administration?
“We have been working with Legacy since 2010. Profiling of the client is key to Duwalcoe as we use this in deciding the correct product suitable for that person. The fact that we have access to multiple underwriters via the Legacy On-Line system allows us to provide the client with options and ensure that he or she will select the most suitable policy for them.”
Your experience of dealing with the Legacy On-Line (LOL) system?
“It is easy to operate once you understand it and have mastered it.”
To find out more about Duwalcoe Financial Consultants, go to duwalcoe.co.za