Claims Processing - Five-Star Carriers 2019 | Insurance Business Canada

Claims Processing - Five-Star Carriers 2019 | Insurance Business Canada

Carrier performance: 7.82

Claims processing tied for the most important quality brokers consider when looking for a carrier partner – 59% of respondents named claims processing in their top three. Because claims processing is so important, brokers have a high threshold for satisfaction. Fortunately, carriers mostly seem to be meeting it, earning an average score of 7.82 in this category, a decent improvement over last year’s 7.06.

One broker praised their carrier’s “excellent claims service – prompt assigning of adjusters and communication with insureds and fair settlements.” Another said their carrier couldn’t be any better when it comes to claims: “Very consistent with claims process; very good communication with clients. No suggestions for improvement.” A third broker gave their carrier a high score for claims service, but cautioned them to “remember the claim is the most important factor to a client – look for ways to cover a claim [versus] ways to not cover a claim.”

For those carriers that came up short in this category, brokers didn’t hold back their criticism. “Horrible service – they outsource nearly everything. Three to five days for an initial contact call is so beyond acceptable,” one broker said of their carrier. Another diagnosed their carrier as understaffed. “Adjusters seem to not have enough capacity to deal with the volume of current claims,” the broker said, adding that “clients are getting frustrated with the lack of attention during a claim.”