Does your company have a loss management protocol? If your company doesn’t have a procedure in place, your organization is at risk of reduced revenue and increased customer dissatisfaction. Learn the elements of an effective loss management protocol to help get your claims process back on track.
Managing Loss
While you don’t know when a customer will call in to report a loss, you do know that it will happen. Having experienced staff, the right software and an efficient workflow will help you manage claims in a way that will reduce costs and improve customer retention.
Elements in an effective loss management protocol should include:
- Creating a consistent method for FNOL and handling claims
- Creating a workflow that reduces processing delays and unnecessary costs
- Ensuring all claims are handled with compassion
- Have a procedure to analyze claims as a part of loss management improvement
Handling claims consistently efficiently and with kindheartedness reassures the client and decreases unnecessary costs. Analyze your company’s loss management protocol to determine how you can improve workflow and increase efficiency.
An effective loss management control starts with a professional FNOL contact center. To learn more about the claims handling process, contact the experts at Actec today.
Employee attendance issues should be handled in an effective manner that conveys the company standpoint across without putting the employee down. Read on for eight simple steps that can help you manage the process in a thoughtful manner, one that ensures everything goes smoothly when an issue arises.
First notice of loss is a crucial component of loss mitigation and claims management for a wide variety of medium to large-scale businesses. What does your notification and claims handling process look like? How actively engaged are you in your loss control and claims handling procedures?