We fully understand that businesses obtain insurance protection to ensure that in the event of a loss, settlement is agreed and appropriate restitution is made. However, at Spencer Hayes we believe that true Claims Management commences from the minute that we meet and extends far beyond the settlement of the claim; not from the start to the end of the individual claim.
We distinct our Claims Management by our approach and this is defined into three core areas.
PRE LOSS
During our ongoing discussions and research we will be looking to identify the true exposures within your business and where potential losses are likely to occur, putting plans in place to strengthen your business to become more resilient and dramatically reduce your exposure to potential future losses.
In addition to this we will analyse any previous or ongoing claims to ensure any trends or frequencies are reviewed and managed. We often find large claim reserves having been placed onto existing claims which can significantly impact on your negotiating position and restrict your ability to obtain reduced premiums and improved terms. At Spencer Hayes we actively look to introduce simple procedural changes which can make significant improvements on your claims experience.
Consideration will also be given to which of our Absolute facilities may assist you in any implementation required. This can also include instructing a specifically selected loss adjuster to deal with your future claims prior to any loss occurring; they will be well versed in your business and its practices which will prove invaluable should a loss occur. Many brokers react to a claim being made but we pride ourselves in our proactive approach; this is echoed by the fact that we obtain a series of supporting documentation prior to loss such as lease agreements, electrical certificates and warranty related documents. This helps us manage your overall exposure but also ensures that all are instantly available to loss adjusters to avoid any unnecessary delays.
NOTIFICATION OF LOSS
This is when most brokers begin dealing with your loss and start to manage your claim. It is vital any notification of loss is made without delay and the process of reinstatement is put in place immediately. This both mitigates the loss but also starts the road to recovery at the earliest opportunity.
We will be on hand at your premises to manage everything including any loss adjusters, assessors, insurers along with you and your staff in order to ensure any disruption is kept to an absolute minimum.
POST LOSS
This evolves from the notification process and ensures the continued management of the claim until full and final settlement is made.
We deem it similar to project management and we believe it is our role to keep on top of all aspects of your claim from negotiating with insurers to appointing contractors to carry out repairs.
This is all done whilst keeping one eye on all costs to ensure there is no unnecessary wastage and additional expense that will negatively impact on your future claims experience and in turn your premium spend.