A comprehensive and clear claims strategy should encompass claims advocacy, preparation, asset valuation, risk quantification and specialist consulting.
Financial institutions’ needs and objectives throughout the claims process demand an industry-focused approach, serving firms across:
- Banks
- Digital assets and blockchain
- FinTechs
A specialist claims team with an industry-focus enables firms to mobilize and implement the necessary procedures to ensure a smooth claims process. From routinely reviewing policies, to working in conjunction with placing colleagues to ensure that coverage meets your business risks, a claims team with specialist expertise and access to global resources can create a bespoke claim solution is tailored to the firm’s specific needs.
Although it is rare, firms can occasionally encounter coverage issues with their insurers. In those instances, claims professionals can serve as advocates throughout the claims resolution process.
A successful claims process:
- Works with firms to ensure stakeholders have a full understanding of the policy and coverage
- Is tailored to the demands of the business
- Is presented to maximize recoverability
- Leverages expertise and identifies solutions
- Ensures clients remain informed at every stage of the claims process