Claims are important to insurance producers because, after the policy is signed, the next interaction they have with their clients may be when they file a claim. It’s important for your success as well as your agency’s that customer service and process at this stage is seamless.
In our recent ebook “The Top 5 Insurance Agency Tools Important for Producer Success,” we reference a recent J.D. Power study that showed 81 percent of highly satisfied claimants said they will definitely renew their policy, while 53 percent of displeased claimants either changed insurers or planned to shop around before the next renewal. This alone solidifies the importance of claims service success and the ability to meet your clients’ needs when they need it most.
Through communication, timeliness, and quality assurance, you can establish a more solid relationship with your clients and ensure them that they have help and someone taking care of them in their time of need. Here are a few tips for creating a strong claims presence with your clients:
- Communicate Often. Depending on the incident causing the claim, your client could be in an emotional and vulnerable position. They may have lost a vehicle or another valuable asset and need your assistance to help remedy their situation. If you proactively engage your clients throughout the claims process and communicate during each step, you will reassure them that you are looking out for their best interests. Someone has their back.
- Timeliness. The speed at which a client is made whole after a claim can be the determining factor at renewal time. For example, after property loss or damage, clients want replacement or repair to take place as quickly as possible. If the investigation and payout of a claim take longer than expected, you could easily lose your client to another agency or producer. However, be careful to manage their expectations. Some things take time, and they’ll need you to provide a realistic view of the process.
- Quality Assurance. Including claims audits in the agency’s quality assurance program can lead to improved claims handling and management. Regularly checking on the fluidity and quality of the process allows you to ensure your clients’ claims are handled swiftly and accurately, and it ensures your agency is not wasting money on mismanaged files.
Do You Have the Right Tools?
If you are not provided the tools needed to take care of your customers when claims arise, reach out to management and ask for them. If your agency is not willing to provide you with the resources and tools needed, they may be hindering your success, and you may need to find a new company. Entrepreneurial agencies, also known as lifestyle agencies, not only offer the tools and resources producers need to succeed, but they often provide producers with equity in their book of business, ownership opportunities, flexible schedules, and more.
Download a complimentary copy of “The Top 5 Insurance Agency Tools Important for Producer Success” today to learn more about the tools your agency should be providing and how you can continue to grow in the industry.