Planning in advance how your business will deal with a major loss can help smooth the way to a speedy settlement.
Whilst Business Continuity Plans help companies recover following a disruptive event, preparing for the insurance claim process is essential to pre-empt the typical problems that arise and speed up your claim payment.
We provide you with a framework to plan your initial response to the claim, what you will need to do, the experts you will need to draw on, how you will capture the necessary information, evidence your loss and prepare your claim.
For example, knowing who will take charge and who needs to be involved is vital. The person in your organisation who is responsible for the claim should know where and from whom to access crucial information and what resources they will need to draw on to mitigate the loss and handle the claim effectively.
The first 24 – 48 hours following an incident is critical. Loss adjusters representing Insurers will immediately want to establish the potential size of the loss and a clear communication strategy is essential including routing all information through a senior individual before being passed to insurers.
With your plan in place, you can be confident that if the worst happens, you have an effective route map to optimise and speed up your claim payment.