The claims process places insurers and law firms in opposing corners, so it would be natural to consider an adversarial relationship necessary – however at Minster Law we believe effective collaboration delivers the best outcomes, not only for customers but for all parties.
Understanding the needs of our customer and providing them with a smooth claims journey is at the heart of Minster’s ethos and effective collaboration with insurers is an integral part of our process for delivering the best outcomes.
As part of Customer Service Week 2020 we reflect on how our focus on collaboration provides a more streamlined process for our customers and has a knock-on benefit for the third-party insurers.
Collaboration is a key part of providing the best service we can to our customers as a lack of conversation between insurers and claimant law firms can result in unnecessary delays and added stress to a customer’s claims journey.
This year, with the world coming to a near halt as the Covid-19 pandemic sent countries into lockdown and claims were impacted as courts closed across the UK, collaboration became more important than ever in ensuring case progression and swift settlement.
“The delays caused by Covid-19 have really opened up discussions with more insurers who are looking for new solutions to efficiently resolve claims,” said head of insurance partnerships at Minster Law, Lisa Veitch.
For customers these delays add unnecessary stress to their claims journey, but for insurers such delay has a real financial impact, resulting in extended life cycles and causing reserves to be tied up for much longer than before. This is especially apparent if a claim proceeds to or is stuck in the litigation process.
Working independently of each other seems irrational when both the insurer and law firm share a common goal. By working together, they can better protect and support the customer when things go wrong for them.
Through collaboration, and due to the principles we have set with insurers, we have been able to accelerate progression on newer cases and reduce the volume of ageing cases.
“What we’re trying to do is avoid litigation unless that route is absolutely necessary,” Lisa said.
“While our professional duty to our customer, and achieving the right outcome for them, will always remain of paramount importance, we understand that litigation drives up cost and builds stress into the customer journey, as such we will exhaust all avenues before proceeding down that path”.
So far, we’ve received a positive response from our customers and insurers, who appreciate that a collaborative approach is both refreshing and a foundation upon which to build strong relationships.
“Our business model does not promote litigation, we are genuinely keen to collaborate at all stages of a claim and proceed only to litigation when it is right to do so” Lisa said.
“For us it’s about ensuring our customers best interests remain a priority whilst driving down life cycles and avoiding litigation – ultimately achieving the knock-on benefit of reducing insurers’ claims spend.”
During monthly escalation calls with insurers we’ve been able to agree protocols for general and special damages and share insights on forthcoming issues, including plans for the reforms, so we can move forward together and ensure we’re aligned to give the best service to our customers.
The industry will work better if there’s consistent dialogue and sharing of knowledge, which is evidenced by the customer benefits Minster Law and our insurer partners have already seen.
“We will do what is necessary to collaborate in a way that is best for insurers and their customers” Lisa said.
“We have strong collaborative relationships with a number of insurers and see the increased participation in escalation discussions, prompted by Covid-19, as a real positive. We hope this level of collaboration will remain the norm in a post Covid world ensuring longevity of this enhanced customer service.”
At Minster Law collaboration doesn’t stop with insurers. We also collaborate with customers, gathering feedback and insight about their experience in order to ensure continuous improvement on the service we can deliver.
Collaboration is the way forward – moving forwards together will see a brighter future for the industry and for all our customers.