Even when taking care of how we run businesses, there are often events and accidents that can’t be avoided. While we can certainly learn from our mistakes, this doesn’t help the fact that in some cases, parties have already been hurt or property damaged.
Whether a member of the public has injured themselves as a result of your business practices or while on your property, or your products or services have proved faulty or caused damage, claims can be made against your business for several reasons. While a good Business Insurance policy will protect you financially, having a good claims handling process internally can also help you better manage your insurance policies and how your business is handling risks and potential issues customers and clients are facing.
To help you get started, we’ve compiled some of the best practices you and your business can adopt to help streamline the claims handling process.
The Right Insurance
The first and most valuable thing you can do for your business and the claims handling process is to ensure that you have the right insurance policy to suit you and your business. Every business is different, from the industry that you operate in, to the people that you employ. Having the right insurance policy gives you the peace of mind and confidence you need to operate not just your business, but your claims handling appropriately and with the knowledge that you have strong and secure support behind you. Public Liability Insurance, for example, offers financial support in cases where a client or customer may become ill or is injured by your business practices or property. It can cover compensatory costs, legal fees and more, and having the right policy and all of the details in order ensures you are never left under or overinsured and on the back foot as a result.
Evidence Collection
Some claims made against your business may be more complicated than they appear at first glance and regardless of the complexity, having the right evidence collected and easily accessible can make claims handling far simpler. In some cases, by having evidence on hand and properly organised, you can settle with clients or fix a situation without needing to make an insurance claim.
Keeping your evidence collection organised, streamlined and consistent will ensure that you are not only effectively handling any issues as they arise, but will also ensure that if an insurance claim does need to be made, you have everything you may need on hand with little or no trouble.
A Dedicated Team
While some small businesses may struggle to put together a team dedicated solely to claims handling, having a team, or at least a few designated members of staff to deal with these situations can help to create a more efficient process for all involved. You can focus your training for claims handling on the designated team members, and by keeping things compact and in one place (or team!) you can better access the help and information you need when you need it. It can keep the process organised, efficient and all in one place, making access to information easier for you and for your customers.
Automation
The world of automation is growing and while it can be daunting to automate some of your business, you’d be surprised just how much of a difference it can make to the claims process, as well as your business as a whole. With the right programs and tools, you can automate data collection, evidence organisation and more, all without having to drain resources or staff time. For a small business, this could even avoid you having to hire extra staff to handle claims or help better distribute and manage the time your existing staff can provide or give.
For more information about business insurance and how we can make the process simpler as part of your claims-handling improvements get in touch with Ashburnham Insurance on 0800 1696137. Our team are on hand to help provide quotes, information and more.