Interview of the Week: Jean-Baptiste Costa de Beauregard, Strategic Partnership Manager, Collectrium
Why well-seasoned insurance brokers recommend collection management tools to their clients?
There are many benefits! First of all, providing an expert advise on which collection management platform is the best and getting their clients a preferred access to it is a key contributor to a broker’s top quality of service. By doing this, the broker stays ahead of the clients’ expectations.
Additionally, interacting with clients using a collection management platform creates a unique, digital and frequent link between the client and the broker. Collection management platforms are also the best way for brokers to always keep up to date regarding any changes in the collection that could have an impact on the client’s policy (in particular for any new acquisition, change in value or change in location).
As an immediate consequence, in the event of a claim, the entire process is made much faster and simpler since all the information and documentation is readily available to the client.
Which best practices towards collection management are imperative for a collector?
As a former art insurer I know that there are two areas where collectors need to be especially careful. The first one is to be able to know how much their collection is worth at any point of time, and not only the day when they had an appraisal. The second one is to securely store all the documentation regarding the items in the collection. There is no better way to do this than using a digital collection management platform.
Have you noticed a shift in collection management moving more towards digital platforms?
Just as each and every collector now checks his private bank accounts online or on an app, more and more also want to have such an easy access to their collection’s information.
Dealing with messy Excel sheets, multiple and often changing art service providers, losing information, the old fashioned way of managing a collection drives complexity and risk. It really is a must to switch to a digital platform. Another way to put it is that when collectors find out that a great collection management platform is available, they almost instantly adopt it.
At which point collectors should start using collection management tools?
There are two major reasons to start using a collection management tool. The first one is to avoid complexity and risk. The second one is enjoyment. Any collector that is looking for ways to enjoy his or her collection more and at the same time to reduce the complexity managing the collection, should consider using a digital collection management platform. But for sure, any collection worth more than a million dollars should absolutely be managed through a professional digital platform.