Why Outsource Insurance Claims Recoveries

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I’d like to discuss the prospect of outsourcing insurance claim recoveries to a debt collection professional as part of the Insurance Claims Recoveries Blog Series. 

Why would a corporation outsource this element of the claims process? What are the causes for this, and what are the advantages? 

The biggest benefit, of course, is that by outsourcing to a professional debt collection firm, insurance companies can profit from increased returns and a lower claims-to-premium ratio. 

A professional firm, such as Debt Recoveries Australia, which also specialises in insurance claim recoveries, may have the knowledge and resources to accomplish the work more efficiently. 

Debt Recoveries Australia’s team can work as an extension of your claims department. Our employees have received training in the Insurance Code of Practice and have often worked in the claims or brokerage industries. 

When engaging with consumers to address their insurance claim arrears, we minimise the amount of effort necessary by our insurance clients in the debt collection process and deliver a great customer experience. 

In the following areas, we can assist you: 

  • Unpaid premiums — debt can emerge when clients withdraw their Direct Debit but forget to cancel their policy, leaving a payment outstanding.
  • Closed Case Reviews- we conduct a comprehensive closed case audit to look for over-looked or abandoned claim recoveries.
  • Investigations into claim leaks in ongoing and closed cases
  • Legal letters of demand and litigation guidance

Another significant advantage for our insurance clients is the time savings for the claims department. 

During the claims procedure, the insurance company’s primary priority is to look after the insured. The insured must be the claims officer’s top priority, so that after the claims recoveries function is outsourced, the claims officers may focus on managing the claim instead of worrying about the recovery process. 

You may reach me at Debt Recoveries Australia on 1300 799 511 for more information on how a debt collection professional can assist you with your insurance claim recoveries. You can also contact me via email at debtrecoveries@debtrecoveries.com.au or via Skype at debtrecoveries. 

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