New Times, New Risks

In 1924, two cousins in the Midwest of the United States founded an agricultural consulting cooperative, SEIPPEL & SEIPPEL to manage and share agricultural risks among local producers. Nicholas and Henry Seippel saw their business flourish in the American agricultural fields for more than a decade, until, in the late 1930s, with the entry of large corporations into the agricultural sector, the company ceased operations.

Almost a century later and on the other side of the Atlantic Ocean, in the offices of the newly created Boulevard de Santa Ponsa, Mallorca, the most important service business center of Mallorca, Phillip Seippel, turned his passion as an insurance agent specializing in the nautical market into a fully accredited insurance brokerage and, together with a new Director David Wickins, and more recently with his daughter Jasmine Seippel, the name of the family business was revived giving rise to SEIPPEL & SEIPPEL.

From protecting the Midwestern American countryside in its origins, businesses are now faced with a host of new risks as a result of the technological, climatic, social and environmental revolution. Digitalization and technological progress are making society evolve at breakneck speed, as never seen before, and to traditional products such as home auto and commercial insurance, we must now add “cyber risks” or “environmental risks”, which make the presence of the broker more necessary than ever, with a much more specialized technical advice.

SEIPPEL & SEIPPEL, have understood this revolution and propose new formulas to face the unforeseen events arising from the evolution of the market and the new social realities. Words such as “Smishing”, “Phishing”, “Ransomware” … are just some of the areas addressed by Cyber Insurance and with which they are increasingly familiar at SEIPPEL&SEIPPEL, as well as with climate change which, in addition to putting the sustainability of the system at risk, entails a series of new developments for companies such as regulatory changes, compliance or reputational risk.

Mallorca Platinum Seippel & Seippel

The Best Formula: Analysis and Specialized offer.

When a prospective policyholder enters an insurance brokerage, he or she comes with a personal or professional history. Therefore, first of all, it is necessary to listen to each of the individual circumstances, in order to identify the main risks that the person or company may face and to be able to make the right decisions. That knowledge is something that is difficult for the client to know on their own.
Mallorca Platinum Seippel & Seippel
Mallorca Platinum Seippel & Seippel Marine Insurance

The paperwork has never been easy, each step has a series of formalities that entail time and obstacles for policyholders. The broker makes this easy for the policy holder. When the situation arises in which it is necessary for the insurance to respond to the service for which it was contracted, the broker acts as an intermediary to explain and claim to the company what has happened with a single objective: for the insured to see how the insurance protection becomes effective. This is the moment in which the broker exercises his role as partner of protection, always taking the insured's side in case it is necessary before any insurance company.

Frequently people take out insurance policies without the broker’s services and go directly to the companies and deal with their agents. But there is an essential difference using a broker. The broker knows the sector and offers amongst a variety of products, the most suited for the client, since he does not work for a specific company. The vision of a broker is never to sell a specific product, but to listen and study the cases with a vision independent of the insurance companies.

To think that contracting insurance through a brokerage always carries an extra cost for the client is a very common mistake that derives from the myth that brokers work for the insurance companies. Insurance brokerages and their brokers are independent figures who are committed to the best products. Their work does not involve an increase in the cost of the policy. On the contrary, using a broker often results in savings as the broker can negotiate amongst different companies. Personalized advice can save the client a lot of time and money in many of the cases and that is, undoubtedly, an important added value.

SEIPPEL & SEIPPEL has been present in Mallorca for more than 30 years. They represent all the major international insurance companies and have commercial contracts with the largest international brokerage firms, which makes them leaders in their sector and the ideal broker of choice.

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