Claims consultancy

ANA offers a claims consultancy service that is open to companies making claims.

Companies may engage this service:

  • So that their position is represented by someone who works for them.
  • To  ensure that their claim and other documents are completed correctly and to their best advantage.

Some Frequently Asked Questions about  claims consulting are answered following.

Why do I need external support?

If you have a background in insurance and especially claims handling, then you may not need our assistance. Often, however, the loss you have suffered may be your first and, as with all new experiences, there is a certain level of uncertainty and the need for specialist assistance.

With major property or engineering losses, that uncertainty can be compounded by the numerous tasks which require immediate attention. As an insured, your duty is to prove your loss but, more importantly, to stay in business. As a broker, your client expects you to help them.

With the help of Specialist Claims Management Services that we provide, the above goals can be accomplished. As you continue focusing on running your business we, as your support team, can keep your claim process moving, ensuring that you receive what you are entitled to under your Contract of Insurance.

My insurance company have appointed a loss adjuster. Why do I need you?

Yes, you may not need us and your insurance company may process your claim in accordance with the recommendations of the loss adjuster. Quite often, the loss adjuster may be experienced enough to make the correct recommendations. However, his brief will not be to prepare your claim but assess what you have submitted. So, if the loss adjuster is acting for his principal (insurer), who is acting for you?

Just as you would engage the services of an accountant to assist you with your tax affairs or a solicitor to advise you on legal issues, why should you not then employ the services of an Insurance Claims Specialist to assist you with your insurance claim.

Will your Specialist Service cost me a portion of my settlement?

No, not as a percentage but as with all time based professional services, you will always pay a fee for good service. However, in paying a fee you expect to derive value. Two things have to be considered here.

  • Do you have the time to spend to do what is required of you?
  • Do you have the expertise to ensure that what you are claiming is the maximum allowable under your policy?

While much of the value of professional service is quantifiable by your insurance settlement amount, there is no way to measure the loss opportunity cost to draw you away from your business to process your insurance claim.

My insurance company and I have a good relationship. Will I be creating a conflict?

It is not our goal to create a conflict between you and your insurance company. However, our professional approach and assurance to your insurer that our role is not to inflate your claim but to ensure that you receive a full and fair settlement should not cause any reasonable insurer to be concerned.

Our presence also provides your insurer with the confidence of knowing that your interests are being adequately met and that there will not be a question of an unfair settlement being accepted by you. This is an important consideration in the event of any negotiated settlement.

I only want a fair and equitable settlement. Why do I need your services?

You can only receive what is fair and equitable. However, insurance companies are not required to pay more than what is being claimed. As professionals, we will ensure that we only claim, on your behalf, what you are entitled to. We will not inflate your claim or submit something which is improper.

How can external specialist support produce a better settlement?

Understanding the policy endorsements and limitations and conforming to your Policy Contract requirements is a key to a successful conclusion and settlement of your claim. Such understanding can only come with years of claims experience and specialist training. We have in-house Chartered Loss Adjusters, Chartered Engineer and other professionals with extensive experience both here and overseas. Wherever necessary, we will also bring in additional support services to compliment and further support your claim requirements. For example, if our engineer believes that specific failure analysis investigations have to be carried out to support your claim to counter insurers interpretation of the loss, then we will do so with your confirmation.

How do I know that you can do better than I can? After all, I know our business better than you?

We do not claim to know your business better than you. By the same token, we believe we know insurance claims handling better than most non-insurance people.

Your professional Claims Specialist is trained to work with you and your staff to extract the critical information necessary for the claims process. This is important because it frees your management and key staff from becoming involved in time consuming and complex issues surrounding claims preparation.

How is your company different from any others who provide a similar service?

We may not be different and some of them may be quite good. However, as mentioned earlier, we have in-house professionals (Chartered Loss Adjusters, Engineer) unlike the others.

We would encourage you to use the same criteria you use to assess other professionals, namely, technical qualifications, experience, integrity, reputation.

How will you manage a claim against an insurer for whom you may already be doing work as a loss adjuster? Is this not a conflict of interest? How do I know you are acting on my best interests?

Insurers appoint solicitors to act on their behalf and sometimes find the same solicitors acting against them at other times. Is there a conflict of interest here? We don’t believe there is. On each occasion, the solicitor is acting in the best interest of his client at the time.

As professionals, our services may be required by different insurers at different times. We may find ourselves working for Insurer A in one instance and working for Insurer B for recovery of a loss from Insurer A. Both insurers accept that we sometimes work for and against them. They also expect us to maintain our professional integrity and act appropriately.

So, acting for you against an insurer that we do work for is similar to acting for another insurer. If we are acting for you, then your interests, at that instance, becomes our first priority.

What will it cost me? How long do I need your services for?

We charge an hourly rate. Our fees range from $250-$350 per hour, depending on the type of claim (property, liability or engineering). This is the same rate that we charge insurers for our services to assess similar losses. We do not work on a percentage of settled claimed basis.

Our initial meeting to discuss whether you require our services is free. In that meeting, we will outline what we can do for you but, more importantly, outline to what extent you may need our services.

Contact us to explore your options.