Get proactive about the claims process
Claim Central's Darren Trott explains why the industry should be keeping claimants more in the loop about the progress of their claim.
Video transcript below:
Darren Trott, Executive General Manager, Claim Central
Darren Trott: In my experience, most insured customers aren’t being kept upto date with progress of their claim and so they’ll contact their insurance company or their insurance broker and ask what’s happening and nearly every broker that I speak to, they talk about the time that they’ve got to spend chasing answers from the insurance company, answers from the loss adjuster, an update from any party in that whole value chain in the claims process and it seems as an industry that we are constantly reacting to those insured customers., when we need to get at the front of that curve and anticipate what their questions and issues are and provide solutions for them.
Insurance customers come to us after they have experienced something go wrong in their lives. They have had a loss of some kind and they have had a negative experience. So they come to their broker or to their insurance company looking for compassion, understanding and some empathy that their specific circumstances have caused them some grief. Then they are looking for an understanding of what’s going to happen and in what time frame. The third thing is that they are expecting us to commit to those things and to deliver on them. The third is any change that will keep them abreast of what’s happening.
It seems fairly straightforward, but as an industry we struggle to get those basics right. The first step is to look at why customers are calling and mapping out that customer experience. At what stage are they calling, why are they calling and what questions they ask. Then looking for a solution in each of those steps. The benefits are increased retention and in many cases even business referrals where in these days of social media, customers are telling their friends and their family about the experiences they have had and it’s pretty powerful. Look the benefits for brokers are the less time they have got to spend chasing the claims tail, chasing the insurance, chasing the loss adjustors, the more time they can invest in growing their portfolio, assessing the risks of their insured customers and providing the advice that they need to upfront. The benefits for insurers are pretty obvious that if you’ve got a customer that has had a bad claims experience, they are going to move and that’s the most common reason for losing business in the insurance game.
So the ultimate goal is to provide a solution to your customer’s problem before it arises and that can be done through the use of technology, it can be getting the resourcing levels right in your claims operation, it can be setting those expectations upfront so that the customer is fully armed, right from the get go.