Making the claims process easier for SMEs

By  Vero Insurance

Putting in an insurance claim can be a very stressful time for owners and decision-makers of SMEs, creating a key opportunity for brokers to demonstrate their value.

Key Insights

  • While most SMEs are satisfied with their claims experience, levels of dissatisfaction have risen – even amongst broker clients.
  • The main reason that SMEs feel dissatisfied with the claims process is because they don’t understand what the process is.
  • Broker involvement in the claim process results in increased client satisfaction and a decreased impression that the process was complex.

Maintaining client satisfaction levels during claims time often comes down to effectively managing your clients’ expectations. Take the time to have an open and honest discussion with your client when they put in a claim; talk them through the claims process, give them a timeline, and advise them on the likelihood and degree of their claims’ success.

The claims experience is better for SMEs when brokers are involved. A total of 41% of all SMEs – and 60% of medium-sized SMEs – felt that the experience would have been much harder if their broker hadn’t been involved. This is a powerful statistic that brokers can confidently share with clients and prospective clients to communicate the advantages they bring.

Lack of clarity is the single biggest cause of dissatisfaction with claims. Brokers need to think about how to help their clients understand the claims process, including results.

To see the full findings for 2019 and what they mean for brokers, download the report now:

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