Meet a Broker: Marel Pencev | Director, Tank Insurance

Marel Pencev is a Sydney-based insurance broker and the Director of Tank Insurance. Advisr chatted with Marel about his journey as a broker, his strong commitment to fostering business success, and his future plans and aspirations.

What do you love about being an insurance broker?

I have always loved speaking to business owners! As an insurance broker, I enjoy understanding how a business solves a particular problem, what their risks within the business are, and how I can help eliminate or mitigate those risks so they can focus on what they do best - running their business and serving their customers.

Building personal relationships with my clients allows me to tailor solutions that fit their unique needs, while the problem-solving aspect of my job keeps me engaged and challenged. The continuous learning required in my field ensures that I stay on the cutting edge of industry trends, while the flexibility and autonomy of my role allow me to offer the best products for my clients. Most importantly, I take pride in making a tangible difference in the success and security of the businesses I serve.

Being part of an awesome team really adds to the fun of my job. And as an AR for Sphere Insurance Group, I've got the support and camaraderie I've always wanted!

Tell us about a business that you were able to help

I love working with hard-to-place risks, especially when it involves finding tailored solutions that others might overlook. One memorable example is a Financial Services business struggling to secure the Professional Indemnity insurance they required. Their specific operations and the nature of their field made them a complex risk, and traditional big-name providers either offered inadequate solutions or flat-out declined them.

Understanding the intricacies of their situation required in-depth consultation. I spent time analysing their operations, asking targeted questions to uncover the unique aspects of their risks, and assessing what would truly serve their needs.

After careful consideration, I placed the insurance with a specialist underwriter whose offerings were perfectly suited to their field of work. This wasn't just about finding a provider but crafting a solution that provided comprehensive coverage, addressing all of their concerns.

The client was not only pleased with the insurance but also deeply appreciative of the effort put into understanding and meeting their specific needs. This coverage fortified their financial security, enabling them to operate with confidence and pursue their business goals without reservation.

This experience was a great reminder of the real value I can offer as a broker, being that essential middle man who can translate a business's unique challenges into actionable solutions. It's these relationships and successful outcomes that drive my passion for what I do, and why I cherish every opportunity to make a meaningful difference for my clients.

How do you use digital to connect with businesses?

Agile's Professional Indemnity insurance protects against claims arising from an act, error or omission in the performance of professional services.

Professional Indemnity insurance is designed for professionals who provide a specialist service or advice, providing protection for financial loss and legal costs of a claim.

A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

How do you use digital to connect with businesses?

Digital presence is more than just a trend; it's an essential component of modern business, even in relationship-based professions like insurance broking. While word of mouth and referrals remain vital, a strategic digital presence complements and enhances these traditional methods.

When customers discover my services, whether through word of mouth, a conference, or online, they often seek further insight by exploring various digital platforms. They check online reviews, my profile on insurance broker directories like Advisr, FAQ sections on my website, blog content, and social media channels.

I use these platforms to create an authentic connection with potential clients, providing insights into my business and the industry. Tools like customer reviews and feedback also play a critical role in my continuous improvement, helping me understand what resonates with clients and where I can enhance my offerings. Advisr has also made this easy for me, using tech to allow me to seamlessly seek feedback from customers once I have found a solution for them.

By weaving together these digital elements with traditional relationship-building strategies, I'm able to provide a comprehensive view of my business. This multifaceted approach helps potential clients feel like they know, like, and trust me before we even speak, fostering more informed decisions and stronger connections. It's a dynamic combination that reflects the ever-changing landscape of our industry and ensures that I remain accessible and relevant to my clients.

What is one goal you're working towards in the next year?

My goal for the next year is to make insurance accessible and simple to everyone by harnessing the power of technology. As a broker, I recognise the opportunity to bridge the gap between customers and insurance solutions through innovative digital tools.

I'm working on integrating features through our website and developing an app with a user-friendly dashboard. This will enable customers to view all of their insurances in one place, monitor renewal dates, and easily lodge claims. The platform will feature personalised notifications, self-service features, and other functionalities designed to make insurance management seamless and intuitive.

This initiative is driven by direct insights from our clients, who have expressed a desire for more control and transparency in their insurance experience. By leveraging technology in this way, I aim to reduce friction and demystify the insurance process. It's about more than convenience; it's about making insurance engaging and approachable, reflecting the evolving needs of our clients and the industry as a whole.

You can reach me here: Marel Pencev, Tank Insurance on Advisr
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

ADVISR, ABN 17 613 588 266

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