FAQ - Frequently Asked Questions

Why use Prizm?

Prizm is an ethical business. Not only are a percentage of all fees donated to charity but unlike most insurance brokers, 100% of the commission is refunded. Our income is earned from our service to you – not from kickbacks earned from insurance companies.

Why did we call the company Prizm?

Because a prism is totally transparent – as are our charges. Instead of taking a commission we charge a fee upfront at the time the policy is taken out. The fee is totally separate to the cost of the insurance premium (& usually significantly less.)The fee is calculated based on how many hours we anticipate we will have to spend handling your policy/policies over the course of the following year. So the more work we reckon you’ll cause us – the more you’ll be charged! Conversely, the more straightforward your insurance requirements & the less aggravation we think you’ll cause us – the smaller your fee will be! Sometimes we will get the amount of the fee wrong & not charge enough, but we won’t ever come back to you and ask you to pay extra because the workload has increased or you’ve had more claims than we expected. 

Why is Prizm spelt with a ‘z’?

Because we wanted to emphasise that we’re a little bit different…  Unlike other brokers we don’t earn our income in proportion to your premium, so it’s not in our interest to make you pay inflated premiums. We are 100% committed to Treating Customers Fairly (TCF).

Why is called Prizm Solutions, not Prizm Insurance?

Because we offer an all encompassing overhead management solution to SME's (Small to Medium sized Enterprises). Obviously our main business is being insurance brokers – but we also have a distribution facility with The Utility Warehouse Discount Club. This is a trading name of Telecom Plus plc, a FTSE 400 company who provide highly competitive gas, electricity, telephony & broadband services to SME businesses & private individuals – please go to www.prizmsolutions.co.uk/uwdc for more details. Utility Warehouse is a network marketing company – and we’re always interested in talking to anyone to shares our ethics & would like to see if this is a business opportunity which would suit them.