Dealing with a catastrophic event is the biggest test of efficiency for any insurer, and Gallagher Bassett’s executive vice president Jon Winsbury says one of the most vital steps in the aftermath is the review - how did we deal with the event, how did our staff cope, and how can we improve?
Winsbury says that dealing with major catastrophe claims is an area of constant learning, both for insurers and claims administrators, but that a post-event review can shed light on a range of issues, particularly when it comes to the experience of the client.
“We like to do a review after each catastrophic event response, and ask what we’ve learnt,” Winsbury commented.
“Were we controlling the issues, or were the issues controlling us? This is so that when the next event comes - which could be in a few weeks - we can put on a better show. We never stop learning in this environment, and you have to have a culture where you’re ready to continuously do that.”
“For Australia and New Zealand, there is every chance that we’ll see another storm or event with some regularity,” he explained.
“It’s important to have a controlled environment where you can have these kinds of discussions as soon as the event starts to lose some of the heat, and you need to be speaking to your frontline staff, team leadership, branch leadership and operational leadership - what worked well for them, and what didn’t?”
Winsbury says that another vital aspect of the review is talking to the client, something he says the insurance industry doesn’t do nearly enough. He says it’s particularly important to speak to clients who have to make more regular claims and pay higher premiums, as they will have a unique perspective on the claims process across a variety of situations.
“It’s vital to ask the customers, and we don’t do that enough as an industry,” Winsbury said.
“Ask how you did, and what you could improve. Some of our customers have to make several small claims a year, and some live in high-risk areas and probably have a $2-3k claim to make once every few years. So it’s important to get to those people - particularly since they probably pay a premium associated with that, and are therefore valuable to the insurer as a customer.
“Talking to these customers in the aftermath of an event is really important, and I don’t think we do enough of that.”
