Parallel Lines: Cash In My Pocket

Parallel Lines: What Do Creatives and Insurance Have in Common?


If you’re in the creative sector how do you see insurance? To shine some light on what we do, we’ve come up with five parallels between pitching for projects and protecting your business with insurance. We think you’ll find these helpful when you’re looking for the right cover.


  1. Cash In My Pocket


How many times will a client say that their decision won’t come down to price?


They’ll be clear that the choice will be based on the quality of the proposition offered, the service you can provide and how suitable the programme is for them.


  • How often do you get the feeling that they’re simply paying lip service?


  • And how many times do you then find out that your feeling was right: the decision was based on price?


Yes, of course it’s important for your services to be price proximate and affordable for the client, particularly in their early stages of development when funds can be tight.


You put together a creative proposal based on what you believe is required to deliver the right solution at a fair price, knowing that frequently you’ll face pressure to reduce the cost, but with the expectation that you’ll still be offering the same level of service.


It’s the same with insurance.


Say you’re an agency looking to protect your business. The broker offers you a solution, which gives the right level of protection for your core risks, but you’ve got an alternative from another broker, which is cheaper.


Creative proposals vary. So do insurance policies.


Maybe the cheaper programme is with a less secure insurer who could go to the wall, leaving you uninsured. Or maybe the insurer has a tendency to be difficult or slow when it comes to paying claims.


What if the insurer doesn’t understand your industry, so when that expensive piece of kit is damaged, they won’t pay out properly and you’ll get stung for things such as the hire charges while waiting to buy a replacement?


You want the right cover for a fair price.


Tip: value is key with any product, not cost. Get the best cover you can afford.


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