Better business - SME: Raising your claim game

Just over two years ago the Financial Conduct Authority put SME claims handling under the microscope (the TR15/6 investigation) and found there was room for improvement. In the intervening years many insurers and brokers have put an added focus on their claims proposition and sought to differentiate themselves in a competitive market.

The irony, however, is that while brokers and insurers may have put a priority on their claims handling processes, many SMEs fail to give insurance matters the time they deserve in their commercial considerations. As a result, they have not done all they might to ensure claims get settled quickly, accurately and for the amount they require.

This article focuses on how brokers can make the claims journey easier for SME clients and even improve retention rates at the same time.