4 Steps to Achieving Positive Customer Claim Experiences

Claim reporting can be challenging for even the most seasoned Risk Management Teams, as each claim is unique. Insureds in the Construction Industry face large, multi-million-dollar claims that can take years to resolve. However, with a strong process and execution, the claim submission process can be constructive and beneficial for all parties. In a recent sit down with River Steenson, CRIS - Senior Construction Risk Engineer at AXA XL, he provides four steps to achieving positive customer claim experiences:

1.      Start the Insured/Carrier Collaboration as Soon as Possible

2.      The Carrier Should Provide Coaching and Feedback Throughout the Claims Process

3.      Maintain Continuous Dialogue Start to Finish – Nothing Should be Done in a Vacuum

4.      Get the Claim to the Finish Line

Start the Insured/Carrier Collaboration as Soon as Possible

            Collaboration is crucial when creating a successful claims experience, so the sooner an Insured engages with their Carrier, the better. River notes that when the Insured starts communicating with the Carrier in advance of a potential issue and before notice of a claim, it allows the Carrier to evaluate, and when necessary, triage the situation with the policyholder. This allows the Risk Engineers and Claim Managers to “collectively figure out where the risks are and provide support to the Insured so they can take critical action to mitigate the default from both a cost and schedule impact.” By collaborating with the Carrier as soon as possible, Insureds are more likely to mitigate their risk and achieve their ultimate goal - finishing the project on time and on budget – all of this made easier by quickly and collaboratively identifying the cost to cure the defect.

The Carrier Should Provide Coaching and Feedback Throughout the Claims Process

            Once the Insured and Carrier have engaged with one another on the claim, they must establish a strong working relationship utilizing transparent and direct communication. This includes constructive feedback and coaching from the Carrier to the insured, as the Carrier has significant experience that can significantly benefit the project team. Scheduling meetings and training sessions with an Insured’s risk management and project team, the Carrier can obtain vital project details and set document and claims expectations. In our sit-down with River, he states that Carrier feedback and coaching opens an “opportunity to identify all challenging issues on the claim early and get on the same page [with the Insured].” Through coaching and feedback, the Insured knows precisely what the Carrier wants and how they want it.

Maintain Continuous Dialogue from Start to Finish – Nothing Should be Done in a Vacuum

            Collaboration and communication between all parties involved should carry on throughout the claim.  Notable parties include the Contractor, Broker, Carrier, and Consultants (if used). As River states in the episode, “Each party plays a key role in making sure [everyone] sees the facts, nuances, and things to consider.” Continuous dialogue creates transparency as well as strong, trusting relationships. It is vital to resist working in silos as they are more likely to develop problems when expectations are not clear and directly communicated. It takes collaboration by all parties to make sure the claims experience goes smoothly and benefits all parties.

Get the Claim to the Finish Line

            Lastly, River discusses getting the claim to the finish line. River suggests that the Carrier and Insured should start the claims process with the end in mind –  a successful and agreeable claim resolution. By starting with the end goal, parties involved can be intentional with every meeting by keeping everyone on the same page, working towards an efficient way to close the claim. In addition, starting with the end in mind helps Carriers and Insureds pave a path towards resolution and lets them know what is expected along the way.

            Communication and collaboration are critical components to a positive claim experience. Direct dialogue creates clear expectations, allowing all parties involved to clearly understand what they need to do to reach a claim resolution. To learn more about achieving positive claims experiences, listen to our podcast with River Steenson, 4 Steps to Achieving Positive Customer Claim Experiences.

Links:

Connect with River on LinkedIn
Follow AXA XL on LinkedIn
Visit AXA XL on the web here 
Email River at river.steenson@axaxl.com
Connect with Peter Duggan 
Connect with Mike Diercksen