Insurance, whether for business or personal purposes, gives us peace-of-mind that in the event of a loss, we will have the financial means to get back on our feet. It relieves the anxiety that if there was a fire, a flood, or another event that destroyed property or business, a lump sum payment from the insurer would cover the loss.
Managing an insurance claim however is an entirely different story. The process can be complex and cause a good deal of stress for those unfamiliar with the territory. When claims aren’t handled effectively, they can also result in a smaller settlement.
That’s why a loss assessor is so important to the claim process. In this post, we look at seven reasons why a claim will benefit when handled by a loss assessor.
1. Emergency support
In the aftermath of a devastating event such as a fire or flood, people can feel a range of emotions including confusion, anger, worry and sadness. During this stressful time, a loss assessor can provide invaluable emergency support from finding alternative accommodation and coordinating emergency repair work to arranging cleaning contractors to clean up the mess. With a wide network of professionals to call upon in an emergency situation, a loss assessor is there when you need them most.
2. Takes care of all the paperwork
In the event of a loss, the last thing anyone wants to worry about is filling out complicated insurance claim paperwork. A loss assessor relieves the paperwork burden by filling out all the insurance documentation on behalf of their client. A loss assessor will complete a site inspection to determine the circumstances around a claim, and will obtain supporting information such as quotations and specialist reports on the client’s behalf.
3. Manages communication with the insurer
In addition to handling all the paperwork related to a claim, a loss assessor will also liaise with the insurance company and their loss adjuster on the client’s behalf to discuss the various aspects of the claim and negotiate a settlement. The loss assessor can handle all day-to-day correspondence about a claim and follow-up any actions required. This relieves a huge amount of anxiety for clients who would typically be unfamiliar with the claim management process, industry jargon and complex policy wording.
4. Deep understanding of policy wording
Insurance policy wording can be complex and use language and industry jargon that can be confusing to those without experience in the industry. Even then, aptly interpreting and applying policy wording to individual claims can present challenges to claimants, as we recently witnessed in the case taken against FBD over its refusal to settle claims for COVID19-related business closures. This is a rare case and associated with a once-in-one-hundred-years pandemic, however it highlights the critical nature of policy wording. An experienced loss assessor who understands insurance policy wording and how to apply it to each case will be in a strong position to negotiate the maximum pay out under the terms of each individual policy.
5. Faster, streamlined claim management
An experienced loss assessor understands what insurance companies expect and will provide the information they need, when they need it. This makes the process much easier and straightforward both for the loss assessor and the insurance company and can result in swifter settlements.
At CMG, as part of our commitment to customer service, we have automated a number of our procedures using state-of-the-art technology that delivers greater quality and consistency, and supports claims to move quickly through the claims process.
6. Keeps you in the loop
Part of a loss assessor’s role is to maintain effective communication between the claimant and their insurer. This helps to relieve the anxiety that can accompany an insurance claim. Thanks to our advanced technology platforms, vast professional networks and strong relationships with insurers and their loss adjusters, our loss assessors ensure our clients are kept up-to-date at every stage of their claim. This gives our clients confidence that their claim is in a safe pair of hands, and that no stone is unturned, or action overlooked as part of a streamlined and effective claim management process.
7. Claim management expertise
Expertise can mean the difference between a satisfactory pay out, and an optimal one. With 85 years’ experience in claim management and more than 600,000 claims processed throughout Ireland and the United Kingdom, CMG offers an unmatched depth of claim management expertise that gives customers the ultimate peace-of-mind.
If you think you have an insurance claim, always remember to phone CMG first.
In the aftermath of a loss, it is incredibly important to know what to do; without realising it, even the simplest clean-up could prejudice your insurance claim.
That’s why you should always phone CMG before your phone your insurer. We can provide you with advice about what to do next, and if you need it, can support you by arranging emergency repairs, accommodation and more.
Then, we can manage the entire claim process on your behalf and negotiate with your insurer and their loss adjuster to achieve the maximum claim settlement under your policy terms.
To understand how CMG can streamline your claim process in the event of a loss, or to discuss a loss with one of our experts, call CMG today on 0818 118 118 (ROI) or 028 8224 9015 (NI), or find out more online at claimmanagementgroup.com .
