How Does An Agent Play The Role Of An Enabler In The Insurance Claims Handling Process?

insurance claims handling process

Handling insurance claims can be a tricky business for even agents, leave alone clients. The process of filing an insurance claim is complex and few policyholders may be able to understand. Normally, insurance claims are filed when policyholders suffer from financial losses or damages that their insurance policies cover. The main objective of filing an insurance claim is to secure compensation from the insurer. But expenses for only those perils are reimbursed that are mentioned in the insurance policy document. And the terms as well as limits for reimbursements are also specified in the clauses of any insurance coverage contract.

Insurance agents have a role to play in the claim handling process as it ensures that their clients can get some sort of compensation and feel satisfied. On the agents’ part, it helps them to retain customers and even get new clients through client referrals. However, to add some kind of value to the services that they provide to clients, it is important that an agent follows a few steps. Here is some vital information regarding the same which readers who are in the insurance selling business may find useful.

1. Provide guidance to clients

The procedure of claim handling in insurance begins with a client approaching an insurance agent to know how to file a claim. It is the duty of the insurance agent to guide the customer in navigating through the claim process with ease. An agent has knowledge of the claims settlement procedure for the insurer for which he/she sells policies. So, the agent is in a much better position to advise on how to file an insurance claim by preparing the necessary documentation and attaching it to the claim application form. However, if a client has already filed multiple claims during the coverage term, it is better that the agent advises the client about the possible impact of multiple claims filing on payments.

2. Answer customers’ questions

Customers may also have numerous questions for which they want answers and the insurance agent is the best person to answer their queries as part of the claim handling procedure. Some of the client queries may be as under

(i) Whom should I contact for an insurance claim?

(ii) How will my financial losses be evaluated?

(iii) Does the timing and process of filing a claim impact compensation?

(iv) What are the chances of my insurer paying compensation or denying the claim?

(v) How much time will take to process the claim and receive compensation?

As an insurance agent, you are familiar with the claims process and so, you can answer these types of questions asked by your client. Thus, an agent’s role goes much beyond selling insurance policies as at times answering customers’ queries can be difficult. Remember, you may have to handle several clients who have filed insurance claims simultaneously.

If that is the case then you can even think of getting a customized claims management software program installed in your office. There are companies that design, create and install customizable software systems for managing customers’ insurance claims. But to get guaranteed results and value for your investment, it is suggested that you buy a program from some reliable and reputed web apps development company like ProspectsForAgents.

3. Help clients in filing of insurance claim

The actual process of processing a filed claim is a strenuous task for even claims-handling insurance experts who work for the insurer. The process could be equally annoying for a policyholder but as an agent, you can assist clients to file the insurance claim in the correct manner so that the probability of receiving compensation increases greatly. This is because you know how insurance companies settle claims if you have been in the industry for years.

Even if you are still new to the insurance industry, the claim filing settlement process will provide you with a good learning opportunity. Once you are familiarised with the exact requirements of the filing process, you can help your clients to overcome the hurdles to get compensation in accordance with their insurance policy specifications. This way your helping efforts can lead to higher levels of customer satisfaction as well as retention.

Thus, insurance agents have to deal with a lot of hard work and assistance for claims filing to clients is also a part of their job. Many of you may ignore its importance but then it is likely that you might lose clients if they are not satisfied with your attitude. Your success as an insurance agent as well as your revenue earnings depends on what kind of relationship you enjoy with your clients. And proper guidance to clients for sailing through the insurance claims filing process can serve to strengthen relationships with clients as well as win over their trust and more referrals.

You, as insurance agents might have a lot of work to deal with, and assisting in your clients’ insurance claim process might seem to be less attractive. Relationship building is an essential part of the insurance agent’s success. Helping your clients in the insurance claim process allows you to build a positive relationship with the customers leading to high customer retention.

To know more about claims handling best practices for agents as well as using custom-built software for managing clients’ insurance claims efficiently, talk to experts at ProspectsForAgents today!

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