Timely and excellent claims management is the promise that every broker first sells to his or her prospects. This also plays an important role in the client retention as it is the supreme value addition clients will look at before renewing their policies. The important question clients often ask is “does my broker have the best team to deliver this imperative promise?” Take a moment and think about this.
Sun Tzu in his famous book The Art of War says, “…the supreme art of war is to sub-due the enemy without fighting...” which is synonymous to every claims handler’s mind every time they engage the insurer to process a problematic claim for that very important client in their books. We must agree that not all claims are payable, but then again, every claim can be payable. The devil is always in the details, and it is the role of the claims handler to find it, if s/he has what it takes.
Honesty and Integrity are two instrumental values that must never be compromised at any cost during the claims management process. As a professional broker, a client holds you in high regards on those two values and they should always be the foundation on which you review their claims. However, this is a two-way street or call it a double-edged sword, and therefore as a claims handler, the onus is upon you to ensure the client always honors these values by asking the right questions on the circumstances surrounding a claim. Furthermore, a broker must have the knowledge and ability to observe and evaluate a claim by reading between the lines to identify what, if anything, could compromise these values. A respectable broker makes it a habit not to trust what s/he sees if they want to achieve this goal; as the adage goes, even salt looks like sugar.
Every client expects their claim to be honored, however impractical or unlikely it may seem. For example, claiming a motor third party liability from a public liability policy. A rogue broker would immediately promise the client to settle the claim, just to put a smile on the client’s face and then have the client’s next 40 calls go un-answered. However, an honest broker who values his integrity would assertively state the facts as they are before the client and would advise on the much-needed policy to cover future occurrences without necessarily making empty promises. It is imperative to value your word or promise in order to gain a client’s trust and respect, and hence build a cordial relationship.
Ubuntu is an expression from the Zulu language and can be literally translated as, ‘I am because of who we all are'. Ubuntu ngumuntu ngabantu in Zulu language refers to a way of life by our forefathers in the African motherland; a way of communal life. Our ancestors always did things together, for instance, one’s child was raised by the community. Furthermore, in grief or in celebrations, all costs would be borne by the community and one’s problems would be discussed and resolved by the community through financial and material contributions. Such communal life truly instilled respect and trust among its members and built very robust relationships. Ubuntu ngumuntu ngabantu is the entire concept of insurance with an element of Pan Africanism where insurers, brokers and clients watch out for one another in order to grow and foster their businesses. Relationship building is extremely critical in claims management as well, especially between brokers and insurers. Without a trusted relationship in place, any policy violation by a client, even if it were inadvertently, will not go without being penalized to the detriment of the client. It is the role of the broker to ensure this relationship exists throughout all levels of management: rejecting a devasting claim would be the last recourse, only after all other remedies have been looked at by all parties to see how best a client can be assisted.
Finally, the paradigm shift in claims management is no longer on whether you pay claims, but on how fast you pay a claim. Speed has become the bottom line in our business operations, making it mandatory to start thinking outside of the box.
Peter Mugoya | Minet Uganda
This is well put and very helpful.
ReplyDeleteThank you for the insight Peter.