Claims under the microscope

By  Vero Insurance

What makes a great claims process?

Through research conducted with SME professionals across Australia, our SME Insurance Index uncovered a number of insights about the defining features of a positive claims experience.

The data showed us that SMEs who work with brokers are 22% more likely to rate their claims experience as satisfactory, than those who buy direct.

On top of that, broker clients who experience a more collaborative approach to their claim had the highest satisfaction levels amongst SMEs.

The SME Insurance Index also unearthed the four key pillars to a positive claims experience.

  1. Overall speed of completion
  2. Simple and straightforward paperwork
  3. Prompt response to questions
  4. Access to advice and guidance.

This year’s SME Insurance Index findings have not only reconfirmed the benefits of broker insurance over direct but also showcased the power of collaboration between broker, client and insurer in achieving positive claims outcomes together.

Here at Vero, we’re committed to working collaboratively with brokers and their clients to deliver against these best-in-class learnings. To see our commitment in action click here to access Vero case studies, tools and support.

After all, it’s how we respond that sets us apart.

To access every insight from the 2020 SME Insurance Index, click here.

The information displayed is based on commissioned research involving over 1,500 business owners and decision-makers from around Australia. The research was conducted in October 2018 & 2019. AAI Limited ABN 48 005 297 807 trading as Vero Insurance (Vero) has prepared this material for general information purposes only and it should not be used as the basis for decisions in relation to the acquisition or disposal of insurance products or the use of broker services. Vero and its related bodies corporate do not assume or accept any liability whatsoever arising out of or relating to the information. Source: Vero SME Insurance Index 2019 & 2020.