As the founder and insurance expert at Leverage, I often use my negotiation skills to benefit our clients. One memorable instance involved a small business client facing a big premium increase during their policy renewal. The client had a few claims in the past, which was the reason for the proposed hike. I knew this would strain their budget, so I decided to help. First, I collected all the details about their claims history and the new risk management practices they had implemented. Then, I met with the underwriter to discuss this information. I explained the steps the client had taken to reduce risks, like new safety protocols and better security systems. During the negotiation, I stressed the client's efforts to minimize future risks and argued that their proactive measures should be considered. I also compared similar policies from other insurers to show that the proposed increase was not competitive. By presenting a strong case, I managed to negotiate a more favorable renewal rate. Instead of the significant increase initially proposed, we secured a modest 5% increase, which was manageable for the client. This negotiation not only saved the client money but also reinforced their trust in Leverage.