Personal touch critical for brokers who handle claims

Allianz research shows brokers spend an inordinate amount of time on simple / non-complex claims.

Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, as that is where insurer value can shine through.

An Allianz survey found that over two thirds of “claims-handling” brokers said they spend at least three quarters of their time dealing with simple and straightforward claims, as opposed to complex or high value (over £100,000).

The Allianz Broker Voice Survey asked which aspects of the claims process had the largest impact on brokers’ work and the service they provide to customers.

For respondents, the overall smoothness of the claims journey was the most important factor, especially for simple claims. Further feedback was that they would appreciate more regular communication from insurers’ claims handlers, and even more so over the phone or face to face or through chat mechanisms, rather than through emails.

Additionally, the brokers surveyed welcome insurers being flexible and providing access to experts when required.

Nick Hobbs, chief distribution and regions officer at Allianz Commercial, said:

“Brokers are constantly looking at where they can add value to the insurance process for the customer, and complicated or particularly large claims are instances where they really prove their mettle.

“Brokers want to be able to connect to insurers directly when it comes to claims. The industry, as a whole, has to focus on communication throughout the claims process by offering more contact, with regular updates on timelines and progress.”

Allianz has sought to ensure maximum human contact through its Large Loss proposition. Its enhanced offering for large Commercial Property claims involves assigning a single specialist handler to manage the claim from start to finish, creating a project team of experts around the customer, and conducting face-to-face site visits where it adds value. This personalised approach has been well-received by brokers and policyholders.

Graham Stait, head of claims operations at Allianz Commercial, added:

“Since launching the Claims Hub in 2020, allowing brokers to notify and track motor claims, Allianz has added a Live Chat functionality, enabling real-time conversations with specialist claims experts across all lines of business.

“Digital channels can provide near immediate and self-service solutions for straightforward requests, but for more involved claims, we need to remove friction and delay, providing access to empowered decision makers.

“This reflects the need to be able to respond to the questions the customer will be asking. ‘When will my claim be sorted? What stage is my claim at now?’ We must be transparent with that information and make sure brokers have easy access to it.”

Developing these self-serve channels is allowing Allianz to shift its focus to a proactive communication model, enabling more meaningful conversations with customers. Claims-handling teams favour a phone-first strategy, and the enhanced large loss proposition has introduced sending claims specialists to meet face-to-face with brokers and customers where it adds value. This strategy is aimed at delivering a more personalised approach to claims service.

Notes to editors

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

About Allianz Holdings plc

Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain.

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 150,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update

The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
_{*Including non-consolidated entities with Allianz customers.}

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