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An insurance scan maps out which insurances you have, which are missing, and which you are paying for twice. Independent insurance advisors or make-broker services review policies, risk profiles, and industry-specific obligations. Costs: €250–€1,500 for SMEs. Result: a report with recommendations, premium comparisons, and areas for improvement. Worthwhile for most SME limited companies — insurance is often taken out on an ad-hoc basis and not evaluated periodically. Below: how it works and what it delivers.
The short answer
- What: Independent evaluation of all business insurance policies.
- By whom: independent insurance advisor or broker.
- Costs: €250-€1,500 for an SME BV (often a no-cure-no-pay variant).
- Time required: 2-4 weeks turnaround time.
- Result: report with overview, gaps, cost savings.
What happens in a scan?
- Intake: questions regarding business activities, personnel, real estate, turnover, international aspects.
- Policy analysis: request all current policies and review them regarding coverage, conditions, and premiums.
- Risk analysis: identification of risks specific to the industry/company.
- Gap analysis: which risks are not (sufficiently) covered?
- Overlap analysis: which duplicate coverages can be eliminated?
- Market comparison: current premiums compared to the market.
- Report: recommendations and suggestions for improvement.
What does the report say?
- Policy overview: table with all current insurance policies, premiums, and coverages.
- Risk profile: matrix of business risks vs. coverage.
- Gaps: uncovered risks with recommended coverage and estimated premium.
- Overlap: duplicate coverages that can be removed.
- Premium comparison: current vs. market rate.
- Action points:priority list with estimated effects.
When to get a scan?
- In case of growth: revenue or staff doubled since the last evaluation.
- In case of change of sector: new SBI code, different risks.
- Upon moving: new premises, new contents/fire insurance.
- For international: export or establishment abroad.
- In the event of personnel changes: employee insurance becomes critical with 5 or more employees.
- Periodically: every 2-3 years for an up-to-date package.
What are the benefits?
Typical results of a scan:
- 5-25% premium savings by switching or purchasing a comparable policy from another company.
- Prevention of €50,000-€500,000 uninsured risk in the event of discovered gaps.
- Eliminating duplicate coverages — sometimes a saving of €1,000-€5,000/year.
- Better insight into risk management — enables strategic decisions.
With €5,000 in annual premiums and 15% savings: €750/year earned back, scan costs already repaid in year 1.
Insurance advisor vs. broker
- Insurance advisor (independent): costs an advisory fee, not tied to one company.
- Insurance broker: often compensated via commission from the company, can be independent but interests differ.
- Tied advisor (of one company): limited advice, often free but only one perspective.
For a scan: an independent advisor is the most neutral. For ongoing advice: a broker with multiple companies often works well.
No-cure-no-pay models
Some brokers work on a no-cure-no-pay basis: the scan costs nothing, and the broker receives a percentage of the savings (typically 25-50% over the first 1-2 years). For those with liquidity constraints: attractive. For those wishing to over-invest in independence: a fixed price is wiser.
Tessa's scan result
Tessa's wholesale business conducted an insurance scan in the company's eighth year — the last evaluation was 5 years ago:
- Gap found: no cyber insurance (was less relevant 5 years ago) — added.
- Overlap found: General Liability coverage partially covered by professional liability of wholesale association — deletion possible.
- Premium savings: 18% on absenteeism insurance by switching to a competitor.
- Scanning costs: €1,200.
- Annual savings: €4,500 on premiums + ~€200,000 risk better covered.
Honest recommendation
For SMEs with more than €500,000 in turnover and/or 5 or more employees: an insurance scan every 2-3 years is worthwhile. An investment of €250-€1,500 almost always pays for itself — more than financially, also through better insight into risks. Choose an independent advisor (not tied to a single company) for neutral advice. No-cure-no-pay is attractive for those with a limited budget.
For other topics: insurance for SME companies, general liability and cyber insurance.
Frequently Asked Questions
Independent evaluation of all business insurance policies — what you have, what you are missing, and what you are paying double for. Result: report with overview, gaps, premium comparison, and recommendations. Turnaround time 2-4 weeks.
For SME limited liability companies: €250-€1,500 depending on complexity. No-cure-no-pay alternative: free scan, broker receives 25-50% of savings over 1-2 years. Fixed price is often more neutral.
Policy overview, risk profile, gap analysis (uncovered risks), overlap analysis (dual coverage), market premium comparison, and priority list of recommendations with estimated effects.
Upon growth, a change of industry, relocation, international expansion, staff expansion (5+ employees), or periodically every 2-3 years. The first scan is often the most valuable — initial gaps are frequently discovered.
5-25% on premiums through better terms or a switch. Plus elimination of duplicate coverage (€1,000-€5,000/year). And prevention of €50,000-€500,000 uninsured risk upon discovered gaps.
Independent advisor: most neutral, charges an advisory fee. Broker with multiple companies: also reasonably neutral, pays via commission. Tied advisor (one company): limited advice, one perspective — less suitable for a scan.
Brief check with every policy renewal. Full scan every 2-3 years. Immediately in the event of major changes (growth, new premises, international expansion). Insurance changes faster than entrepreneurs think.
