The role of brokers after disasters
27 July 2012 - Insurance Business
A white paper from an Aussie insurance giant has looked into the role of insurers after a disaster and has assessed the value of the broker in this time of need for clients. How can you help your client?
Suncorp’s “Insurance Insights” white paper – “After the storm. Can insurers save businesses after disasters?”, finds that strong relationships between insurers and brokers are vital in the trying times after disaster strikes, but this is still one area the industry can continually improve on.
“Working with brokers can assist in the flow of communication between insurers and end customers,” said the report.
“Inviting brokers and customers who have claimed as a result of natural disasters to share their experiences and ideas for improvement is critical for not only process refinement but the creation of advocates and support within the marketplace.”
Suncorp said it carries out post event broker roadshows which proved vital in improving a greater understanding between the insurer and the brokers when disasters strike.
“An example of how an insurer and broker can work closely for the mutual benefit of the customer came in the recent Roma floods when Suncorp co-located with the broker who had the highest customer exposure to the event,” the report continued.
“This enabled the broker, who became part of the team, to provide valuable feedback and prioritisation of customers based on their needs or special circumstance.”
Elsewhere, the report found that despite the spate of catastrophes in recent years many businesses remain underinsured and, with the economic uncertainties, reluctant to maintain the level of cover they need.
Source: Insurance Business