Commercial insurers wondering what they need to do to attract and hang onto their customers got an earful from the 411 buyers responding to open-ended questions about what they want from their carriers, as part of the first Risk Manager Choice Awards survey, conducted by the Flaspöhler Research Group in partnership with National Underwriter.
Forty-five percent of risk managers surveyed said their relationships with insurers are “improving,” but many had a lot to say when asked: “In what way, specifically, are relationships improving, and why?”
Poor claims-handling was a particular sore point for buyers. One risk manager emphasized the importance of having a carrier that “doesn't panic in the face of a significant claim.”
“When an insured has a loss, the carrier should treat the insured as a long-term partner rather than an adversary,” suggested one risk manager.
“Most insurers bail off large risks after a significant loss,” wrote one buyer, echoing the complaints of many respondents. “They need to be able to underwrite someone who has gone through a difficult situation. The mentality is they could lose their job, but after all, why are they in business?”
“We need acceptance of claims for things that are truly covered, versus some insurers who question and beat you up even when it's obvious the loss is covered,” complained another respondent.
“The only reason anyone buys insurance is so that valid claims and losses are paid,” reported one buyer. “It has been so disappointing to see claims adjusted in a vacuum without underwriting being involved. Items that were clearly intended to be covered by the underwriters and client are continually second-guessed by claim adjusters angling to avoid paying anything.”
To get a lot more advice "straight from the horse's mouth," so to speak, on how to keep your customers satisfed, check out the rest of the article I did on the feedback to this survey at http://bit.ly/1la0Nj.
