Let’s picture a scenario that is all too familiar to financial planners. Your client is looking to make an insurance claim. Perhaps, though you believe they are entitled to their claim, you’re concerned that they don’t quite meet the terms of the policy and may not see a resolution.
The client’s claim is rejected by insurers, and they want to challenge it, but don’t know how. This is where it’s useful on your part to be in close contact with a trusted claims advocate.
How Client Claims Advocacy Works
When you refer your clients onto insurance claim advocates, they can take over the claim management process for you. A claimant advocacy group should have extensive claims experience, and can advocate on behalf of clients on request.
The claims process is notoriously rocky. It’s incredibly helpful for your client to have a team of experts on their side to help them to challenge insurers’ decisions.
Unlike solicitors, claims advocates offer a service at an affordable price that won’t put the average person out of pocket. With insider knowledge and experience, they can ensure that management of a client’s insurance claim results in a fair resolution.
Even if a claim has not been rejected, a claim advocate can help your client to gather everything they need to put their best foot forward when communicating with insurers. They can quickly become familiar with an insurance policy and ensure that there is a much lower risk of a claims rejection.
How is Claims Advocacy Different from Simply Helping my Client at Claim Time?
You may offer your clients your support in making a claim or challenging a rejected claim as part of your service. But in many cases, they will be better off with the assistance of a claims advocacy business with a very high success rate in making and challenging claims.
By putting your client in touch with the right people, you can deepen their trust in you by showing that you take the right actions with their best interests at heart. You can also save yourself the time you need to commit to holding your client’s hand throughout their claim.
Your job is, first and foremost, to ensure that individuals who pay for your service can meet their financial objectives. You have multiple people to deal with, and you know better than anyone else the importance of being efficient with your time. It makes sense that you should find a third-party expert to commit to the time-consuming jobs that are not directly intended to be yours.
Finding the Right Claims Advocates
As with all investments into a service, you need to be certain that you’ve found a great claims advocacy business before using them yourself. Look for businesses that have a great reputation, preferably with a nationwide coverage, and a very high proven success rate (100% is, of course, the most ideal). You should be able to trust a business entirely before you even give them a call.