Claims Tips for SME’s

When something goes wrong, SME’s rely on their insurance to back them up and help them recover.

The last thing a business wants is for the claims process to take a really long time.

On this page you’ll find useful tools to help your clients understand the process or be better prepared.

Helping your clients understand the claims Process

Download a straightforward explanation of the claims process that outlines average time frames: The Life of a Claim

Here, we look at some of the common problems claims experts see and we provide you with some useful tools for your clients to help smooth the process:

  • Inadequacy of Sums Insured
  • Lack of Business Continuity Strategies
  • Documentation Delays
  • Deterioration and Maintenance Issues.

We have created sample checklists and plans for you to download for use with your clients.

ISSUE: Inadequacy of Sums Insured

CLIENT TOOL

Inadequacy of sums insured, leaves policyholders exposed. It’s something claims assessors see a lot, particularly when it comes to business interruption losses. Download our valuation/asset schedule sample to help your client properly value their business assets.

 

ISSUE: LACK OF BUSINESS CONTINUITY STRATEGIES

CLIENT TOOL

Good business continuity strategies help to contain the loss. See a sample Action plan for Machinery Breakdown

 

ISSUE: DOCUMENTATION DELAYS

CLIENT TOOL

Documentation delays are common to the claims process. It’s frustrating for you and your client as everyone wants the claim resolved quickly. Here’s a checklist of documents for your client.

Claims can be notified online on the Calibre Insurance website.

Don’t forget to ensure he following commonly missed information is provided:

  • Insured ABN and GST details
  • Full Insured contact details (especially if adjuster required).
  • Insured EFT details (if available).

 

ISSUE: DETERIORATION AND MAINTENANCE

CLIENT TOOL

A lot of the claims we see could have been prevented if the assets are regularly inspected and maintained. In particular, this is common with property damage and Machinery Breakdown related losses. A sample maintenance program has been prepared for your client’s reference.

 

Download our guides and sample plans:

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