Why you need to Outsource Insurance Claims Recoveries

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Why should an insurance company contract out this part of the claims process? What are the reasons for this, and what are the advantages? 

The main advantage, of course, is that by outsourcing to a professional debt recovery agency, insurance companies can benefit from higher returns and a lower claims-to-premium ratio. 

A professional agency, such as Debt Recoveries Australia, which also specialises in insurance claim recoveries, may have the skills and resources to do the job more efficiently. 

Debt Recoveries Australia can function as an extension of your claims team. Our employees have received training in the Insurance Code of Practice and frequently have prior experience in the claims or broking fields. 

When working with customers to resolve their insurance claims arrears, we minimise the amount of effort required by our insurance clients in the debt collection process and provide a positive customer experience. 

We can assist you in the following areas: 

  • Collect on Not-At-Fault claims – where the insured was involved in an accident but was not at fault.
    • Unpaid premiums – debt can arise when customers cancel their Direct Debit but fail to cancel their policy, resulting in a premium being due.
  • Closed Case Reviews- we conduct a full closed case audit to look for over-looked or abandoned claim recoveries.
  • Claims leakage audits on active and closed cases
  • Litigation advice and legal demand letters

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

The insurance company’s first priority during the claims process is to look after the insured. The priority of the claims officer must be the insured, so that once the claims recovery function is outsourced, the claims officers can focus on managing the claim without having to worry about the recovery process. 

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

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