28th April, 2016

Risk Perspectives

Bloody small print …

I’m going to start you off with a statistic – 85% of our clients have made a claim.  So nearly everyone has had some kind of experience with an insurer.  I am actually not sure what you make of that statistic… high, low, about right?  Experience tells us that people vastly underestimate the chance of them making a claim. That’s why most people insure with the cheapest insurer right?

Insurance, protection, risk management, whatever you want to call it, is one of those things you don’t need until you need it. It’s called a “negative carry service”, whereby you pay for something upfront but you don’t see the benefit of it until later on (when you actually make the claim).  You would be amazed how many times prospective clients say things like “turns out it wasn’t worth the paper it was written on”, “I’m not sure what is happening with my claim, I haven’t heard anything for ages”, or “bloody small print!”

Insuring our personal possessions, cars and businesses can be expensive, so price is an important consideration.  We all want good value don’t we?  None of us want to feel we are paying too much, especially when we are confident we won’t have a claim (remember 85% of us have already had one.)  We recognise that price is a key consideration, so we are not going to sit here and say we don’t care about it.  Of course we try to get our clients the best price we can, but not to the detriment of quality.  After all, our research also suggests that having a bad experience with your insurer makes you much more likely to leave them, so it is absolutely in our interest to ensure when making a claim, you have the best experience possible.

That’s why we are at your side all the way through.  We have a dedicated claims service that saves you time. We will speak to the insurer on your behalf (yes ,that’s right, we sit on hold for you) not just at the beginning, but throughout the process (ok, so we are on hold a lot!).  We can come and assess the claim before you report it, allowing us to present it in the most appropriate way, and in some instances, we can even instruct the insurer to pay the claim without assessment.

Consider the client who is insured directly with their insurer.  How do they most effectively present the claim to achieve successful completion?  When time is money, how much time might be spent preparing and negotiating such a claim?  On a positive note, the time spent waiting on hold, gives you time to check through the bloody small print…