The Best Insurance Broker in Latvia
- Guntis Zoldners
- Jan 6
- 3 min read
Updated: Jan 11
There are many insurance intermediaries, but which one is the best insurance broker in Latvia? In the next paragraphs, we will explain how to determine who is the best insurance broker for your business.
What are your goals?
In our opinion, to determine this, you first need to understand your own needs. For your business, is it enough just to have purchased insurance, or is the price–quality ratio also important?
Obtaining an insurance policy
If simply having a policy is sufficient, then nowadays it can be purchased almost anywhere – online, from an insurance company employee (insurance agent), at a car dealership, in a bank, or elsewhere. All channels will be equally good, because the goal will be achieved.
Achieving the best price-quality ratio
In most cases the price-quality ratio is what really matters. So how can you find and choose where this ratio is the best? The answer is simple: only by comparing. That said, insurance is one of those fields where comparison must be done particularly carefully, because policy offers and terms can be complex.
In addition, when evaluating offers, it is necessary to understand pricing principles and influencing factors; otherwise, a good offer might be dismissed as expensive because it includes unnecessary add-ons, even though removing them would make the price competitive. Or, conversely, an offer might be rejected due to its coverage, without knowing that for a minimal additional premium it could be improved.
Who can compare insurance policies?
Anyone can do the comparison themselves, or they can use the services of insurance brokers. Using someone else’s services may sound like an additional expense, but for insurance this is not the case. The law stipulates that no extra payment is required for the services of an insurance broker.
Moreover, insurance brokers are the only participants in the insurance industry who are legally allowed to compare offers from different insurance companies and provide recommendations on policy selection.
Fair and unbiased broker comparisons
This raises the question of how objective such recommendations are and whether they can be trusted. Latvian legislation clearly states that insurance brokers represent and protect the interests of the client – the insurance buyer. Thus, at no additional cost, they help clients compare, find, and purchase the most advantageous and suitable insurance solution.
However, the comparison itself is not defined in the law; what exactly must be compared? Is it enough to compare only prices, or should other parameters also be compared? And if so, which ones? Considering that insurance is regulated both by laws and by the insurance companies’ own rules, which are usually written in fine print over several pages, there are many conditions that can be compared, and this can be done in different ways.
Learning & improving
To ensure that our clients are as satisfied as possible, we apply more than 15 years of experience when comparing offers. During this time, we have accumulated knowledge by learning from countless claims and various situations: from client questions, from large and small companies, from local and international businesses, and sometimes even from competitors, if they have come up with something valuable.
In addition, by committing ourselves to providing the very best services, we know that this learning process must never stop.
Providing excellent service to clients
Comparison, finding the best offers, concluding policies, & knowledge. Is there anything else that distinguishes insurance brokers? Yes, there is. We call it service; customer service. Unfortunately or fortunately, this is not precisely defined in the law. As a result, each insurance broker works according to their own service standards.
Since we aim for long-term relationships with our clients and cannot differentiate ourselves by price, as in other industries (because insurance prices are set by the insurance companies), we believe that excellent service quality is the key to long-term cooperation.
Who is the best insurance broker in Latvia?
Measuring whether we provide the best service is not easy. Of course, we ourselves monitor client needs and industry developments, generate new ideas by trying to put ourselves in the client’s shoes, and tirelessly improve our processes.
However, no one can evaluate this better than our clients, which is why we ask them for feedback and encourage them to share their opinions on what could be improved. We carefully evaluate this feedback and continuously strive to improve. We are proud of our client reviews, which is why we display them on our website.
We believe that for our clients we are the best insurance broker, and by continuing to adapt, we will be the best insurance broker for many others as well.
+371 26 668 558
