Broker in focus: Speed ​​of claims settlement is crucial!

Broker in focus: Speed ​​of claims settlement is crucial!

Efficient claims settlement plays a central role in the insurance brokers’ business model. Loud AssCompact The rapid processing of claims is crucial for customer satisfaction and long-term loyalty to insurance partners. The quality and speed of claims processing also have a direct impact on the trust customers have in their insurer and on the reputation of the broker itself.

The “AssCompact TRENDS II/2025” study examined how the speed of claims settlement is actually perceived by insurance brokers. A notable finding is that 82% of brokers see it as their responsibility to handle claims settlements in order to increase customer satisfaction and loyalty. 70% of them see claims settlement as a joint task between the agent and the insurer, whereas around 10% of the brokers leave the settlement almost entirely to the insurance companies.

The Importance of Claims Settlement

The brokers' high level of commitment to claims processing illustrates the importance of this process for the success of a brokerage firm. On average, brokers handle around ten motor insurance claims every year. Other relevant insurance areas include residential property insurance, in which they handle around eight cases, and private liability with seven cases handled. At the lower end is pet owner liability, which only covers around three claims.

The complexity in claims processing is increased by globalization and the changing legal framework, as described in a chapter by Springer is highlighted. Policyholders have to overcome numerous challenges to ensure rapid and satisfactory settlement. In this context, it is recommended to carry out careful checks and select the appropriate insurance before an event of damage.

Process steps in the event of damage

The analysis of the claims processing is divided into different temporal dimensions: “before the loss”, “during the loss” and “after the loss”. During the damage, the first steps in reporting the damage and ad-hoc measures are essential. Effective crisis communication and compliance with obligations in the event of damage are of great importance.

After the claim has been settled, things like damage control and striving for a positive reputation for the company are crucial to maintaining customer trust. The final discussion of future trends and innovations in the field of claims processing provides an outlook on the upcoming developments that could shape the industry.