Claims handling is a major factor in customer loyalty
A good claims experience is essential in driving customer loyalty according to a survey carried out by LexisNexis Risk Solutions. This is good news for us at TMD, as we pride ourselves not only on the quality of insurance we provide, but also the speed and efficiency of our claims co-ordinating service.
The survey looked at 3,000 home insurance customers (half homeowners, half renters) and found that 18% of homeowners and 20% of renters had renewed because of a good customer experience, and 18% of homeowners and 15% of renters had renewed because of a good claims experience. The results also found that eight in ten people thought insurance providers tried to avoid paying claims at least some of the time.
At TMD, we have always believed that the accuracy and quality of information provided when the policy is first placed is essential in improving the claims process. If accurate and appropriate data is provided at the point of underwriting, the insurance provider is then better placed to understand the nature and context of the claim, which generally can lead to faster and more satisfactory settlement.
Given that there are 110,000 detected fraudulent insurance claims every year in the UK, worth around £3.3million per day, it’s understandable why insurers are careful to ascertain the accuracy and reliability of the claim before paying out.
Here at TMD, we pride ourselves on our claims co-ordinating service. Our in-house claims team assists in reporting and co-ordinating the claim and negotiating a satisfactory outcome on behalf of the client. Where necessary, we also draw on the expertise of market-leading Claims Surveyors and Inspectors, who provide unbiased advice and help to ensure a fair settlement. We are also partners with Lorega, who specialise in helping both commercial or private clients get back on track after disaster has struck, and whose expertise ensures a great customer experience.
A loyal customer base
Testament to the quality of our service, the majority of our clients come back to us year on year and we have an immensely loyal customer base. Established for over 50 years, we are today one of the largest independent insurance brokers in the country, working to the highest professional standards and continually striving to ensure complete customer satisfaction.
Committed to providing the highest levels of customer service at every level, we place clients at the heart of everything we do, which means you can rely on us to take care of your insurance and your claim. To find out more, please call 01992 703 000 or email: insurance@mcdonaghs.co.uk