Brokers in Canada are increasingly dipping their toes into in-house claims services, with several brokerages boosting their claims capabilities in recent years. In fact, offering this service to clients is a useful tool to show insureds that not only will their brokers be there for them when finding coverage, but they’ll also help them if there’s a claim, which is really the time that insureds need guidance the most.
“It’s very important for brokers to have claims response for their customers to let them know that, in addition to selling them a policy, they’re actually going to be there for their customer throughout that claim, whether it’s from the first notice or first contact to the conclusion of that claim,” said Dara Banga, president and chief adjusting officer at DSB Claims. “It’s not just about collecting a premium – it’s a fuller service, and in order for independent brokers to succeed, they have to continue to evolve, innovate, and be more customer-focused.”
On this front, DSB, which recently won the Winmar Award for Excellence in Claims Service at the Insurance Business Awards, offers a unique claims capability for insurance brokers, where the firm provides brokerages with a white-labelled claims department. Brokers, via their phone communication, on their website, on their marketing materials, and on their letterhead, can promote a 24/7 claims service, which policyholders can call, email, text, send a message through their website or through an app, and report a claim. On the back end, DSB manages the claim as that brokerage and responds to the policyholder.
“Most people when they have a claim, they actually want to speak to someone so we’re available 24/7, 365 days a year, anytime a policyholder [contacts us] to report a claim on behalf of that broker,” said Banga.
DSB came up with this unique business model in 2016 and has doubled their total customers over the course of this past year alone, demonstrating that brokers recognize claims service is a necessary client offering.
“They’ve partnered with DSB based on the value that we bring,” noted Banga, adding that the proof is in the feedback that the claims provider has received. “Claims is not [brokers’] expertise, and our service allows them to focus on retention, customer service, upselling, and cross-selling, so we received wonderful feedback. Broker presidents and broker executives tell us that their retention rates have gone up since they’ve partnered with DSB, [while] internal staff and external customers are very pleased with having DSB as a claims partner.”
