QBE has opened up about its unique delegated settlement authority claims practice after it was praised and highlighted as the future of insurance.
Insurance Business approached QBE after
Claims Central executive general manager Darren Trott heaped praise on QBE for delegating settlement authority for claims to brokers. He said it speeds up the claims process and allows brokers to demonstrate their true value.
This evoked mixed responses over whether this sort of system works but QBE’s executive general manager intermediary distribution Tony MacRae said the process has been “well-received” by brokers because “it gives [them] the ability to respond to their clients in a timely fashion”.
He added: “It also empowers brokers to handle claims quickly and reinforce their value and relationship with the customer.”
QBE created the practice, which it has been in place for several years, to help brokers provide customers with better service.
The authority applies to property only claims such as our home (HPK) & small business (BPK) policies. The claims limit of $5,000 covers a significant proportion of total claim numbers, so brokers can manage the majority of their clients’ claims.
Brokers can also register other claims via ClaimWrite to get the process started rather than sending an email.
The brokers QBE partners with have the ability to lodge, fulfil and pay claims through QBE’s system within their delegated limit. There are business rules built into the system to automate a referral to the QBE claims management team should it be a complex claim that requires assistance from the team.
MacRae explained that most of these claims are straight forward and the broker has the authority to finalise the claim and generate payment for the customer. Brokers are also able to select a property adjustor from QBE’s preferred supplier list.
He said the authority speeds up the claims process and enables the broker to remain the sole contact for their client, overseeing the entire claim and providing an end-to-end service.
MacRae continues: “The most significant benefit for brokers is that it enables after hours claim lodgement.
“The reality is that, at times of catastrophe, brokers with this facility are able to process claims quickly and place their clients at the front of the queues.”
MacRae said the practice does not only speed up the claims process, positively impacting the broker’s relationship with that customer and therefore the relationship with QBE, but also strengthens QBE’s relationships with its partners to help them “them provide the best possible service to their customers”.
