OUTSOURCING SPECIAL – CLAIMS
How to handover with confidence
What should brokers look for in an outsourced claims provider and what benefits
could it bring? Dickon Tysoe, director with Bankstone, provides some answers
R
educing overheads, been wary of entrusting their
to the information they need to
enhancing customer customers to a third party. But
understand the impact of the
service, strengthening keeping claims inhouse can be
claim.
your brand. If any of these expensive and is not
The right provider will be
appeal, brokers who provide necessarily the best route for
able to take on all aspects of a
claims services to their clients the broker or their customers.
brokers claims while ensuring
may want to consider If a broker is thinking
that the broker retains
outsourcing First Notification about outsourcing – and it is
managerial control and fulfils
of Loss (FNOL) to a specialist certainly worth considering –
TCF obligations. They should
Dickon Tysoe
company. they should choose the partner
handle all claims calls and all
Director
Bankstone
Outsourcing FNOL can with care. The company they
postal communication –
deliver all of those benefits – choose should have skilled
allowing the broker to reassign
extend the hours during which
but first the broker needs to customer-focussed claims
staff to income-generating
customers are offered a claims
find the right claims-handling handlers. They should also have
activities.
service. So brokers should make
partner. Brokers have a technology platform that
One potential advantage of
sure the firm they choose
traditionally – and rightly – gives the broker ready access
outsourcing is being able to
offers extended working hours.
The right partner may also be
able to provide the option of
taking calls temporarily should
the brokers phone lines or
systems ever go down.
It is also important to look
for a firm that will work with
the broker to minimise
notification times, maximise
return from income-generating
claims, and allow panel
insurers to maximise their
intervention opportunities and
so improving the profitability
of your insurer accounts.
T
he right partner should
also be able to
demonstrate that they
have an effective strategy in
place for minimising claims
leakage to other organisations,
such as recovery operators,
bodyshops and claims
management companies, over
whom brokers have no control
and from whom they obtain no
income.
They should be ready and
12 Insurance Brokers’ Monthly
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