The 5 secrets to handling large claims (With Sarah Howell)
Mar 25, 2024
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Sarah Howell, Claims Manager at Liberty Specialty Markets, shares the 5 secrets to handling large claims. She discusses her career in insurance, defines 'large claims,' and highlights the importance of effective management strategies. The episode covers the significance of collaboration and communication in resolving complex claims, as well as the impact of diverse perspectives on industry innovation.
Effective communication with stakeholders is crucial for handling large claims in insurance.
Collaborating with experts and colleagues is essential in navigating complex claims scenarios.
Encouraging creative problem-solving and embracing technology revolutionize claim handling processes in the industry.
Deep dives
Communication: Collaborating with Stakeholders
Handling large claims in the insurance industry involves effective communication with various stakeholders such as insurance brokers, insured parties, co-insurers, and experts like loss adjusters and lawyers. Market meetings play a crucial role in sharing information and discussing the way forward for claims. Collaborating with a diverse range of experts and internal colleagues is essential for claims adjusters to navigate complex claims effectively.
Teamwork and Collaboration: Essential for Complex Claims
Successfully handling large claims requires a team effort and collaboration within the insurance industry. No individual can handle a large claim independently, emphasizing the need to assemble the right team with diverse expertise. Constant communication, brainstorming solutions, and leveraging colleagues' experiences are highlighted as key elements in tackling intricate claim scenarios. For claims professionals, asking questions, being inquisitive, and working together are vital aspects of the job.
Thinking Outside the Box: Innovative Approaches to Claims
Encouraging a mindset of thinking outside the box is essential for addressing new challenges and finding innovative solutions in the insurance claims process. Embracing unconventional ideas and approaches, even if they may seem unorthodox, can propel claims forward and lead to successful outcomes. Sarah provides an example of adapting to challenges by remotely assessing losses using satellite imagery and unconventional methodologies, underscoring the importance of creative problem-solving in the industry.
Embracing Technology: Advancements in Claim Handling
Technology plays a crucial role in revolutionizing claim handling processes within the insurance industry, enabling faster and more streamlined operations. Over the years, significant technological advancements have expedited claims assessment through the integration of digital tools and data analytics. Embracing emerging technologies and digital solutions, such as satellite imagery, video footage analysis, and data-driven insights, has significantly enhanced the efficiency and effectiveness of handling insurance claims.
Diverse Perspectives: Driving Industry Progress
Recognizing and valuing diverse perspectives within the insurance industry, including initiatives promoting gender balance, demographic diversity, and inclusive workplace cultures, is essential for driving industry progress. Embracing diversity fosters innovation, fresh ideas, and collaborative problem-solving approaches in addressing complex claims scenarios. Initiatives supporting diverse talent pools, such as women in claims groups and programs for veterans and working parents, contribute to a dynamic and inclusive claims community.
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Sarah Howell, Claims Manager at Liberty Specialty Markets, and the topic for discussion is the 5 secrets to handling large claims.
In this episode we cover:
Sarah's career in insurance
What makes a 'large claim'
Sarah's 5 secrets on how to effectively manage large claims
Which of the 5 secrets is the most important
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