Effective Communication Plays a Crucial Role in Improving Policyholder Satisfaction on Property Claims

When homeowners experience property damage, it can be a stressful experience. In these situations, they rely on their insurance company to make them whole again. Providing financial reimbursement to cover property damage is an important part of your job as an insurance company, but there are many other aspects to the claims process that must be carried out in order to deliver the exceptional experience your policyholder expects during a difficult time.

In general, the first step a homeowner will make after sustaining property damage is to notify their insurance company. This provides you with a unique opportunity to set a tone for the claims process that will dictate the overall experience you provide for your policyholder. The following tips will set you up to provide the effective communication necessary to achieve optimal levels of policyholder satisfaction.

Manage Expectations Through Clear, Timely and Consistent Communication

According to a 2019 U.S. Property Claims Satisfaction Survey conducted by J.D. Power, the three components of the claims process weighted as most important in overall satisfaction metrics also received some of the lowest satisfaction ratings by claimants:

• Keeping policyholders informed on the progress of the claim
• Perceived fairness of the claim settlement
• Length of time it took to settle the claim

There is a common theme among these factors: communication. Effective and continuous communication with your policyholder throughout the claims process is the easiest way to manage expectations and when expectations are met or exceeded, you will usually have a satisfied policyholder. It’s crucial that this communication begins from the initial phone call with the policyholder. This is your opportunity to establish trust and demonstrate that you have your policyholder’s best interests at heart.

Future communications can support this initial impression by reaffirming the trust you’ve earned and making your policyholder see the many ways in which you are providing the support they need. Your communication with your policyholders should:

• Provide continuous, proactive updates on the status of the claim throughout every step of the process – Your policyholder shouldn’t have to keep calling you for these updates. By reaching out and letting them know you’re on top of their claim, you can show them how much you care.
• Give an honest explanation of how claim settlements are determined – There are specific factors involved in arriving at a claim settlement. Making sure your policyholder understands these factors will reduce confusion and improve their perception of fairness. This will lead to an improvement in their overall satisfaction.
• Set realistic timelines for every stage of the claims process – Your policyholders will want to resolve their claim as quickly as possible, which can create pressure to give them an accelerated timeline. However, this sets an unrealistic expectation that will ultimately lead to policyholder frustration. It’s better to provide realistic timelines and thoroughly explain the reasons why the process is expected to take this length of time. Your policyholder will appreciate the honesty and be able to mentally prepare for what lies ahead. When time expectations are communicated and managed properly, it will improve policyholder satisfaction.

Ladder Works Can Help You Manage Policyholder Expectations

At Ladder Works, we’re more than just ladder reps. Our team members are also licensed, experienced claims adjusters. We’ve been in your shoes before, and we understand the negative impact on your policyholder experience when services aren’t performed according to expectations. That’s why we provide you with our exclusive Ladder Works Reliability Promise™, which ensures you’ll receive:

• Proactive communication throughout every stage of the process
• Confirmation of your service request
• Timely, professional service (we always show up at the agreed-upon time and are committed to delivering the exceptional service your policyholder deserves)
• Comprehensive ladder assist services to address your specific needs
• Confirmation of the delivery of services
• Prompt delivery of all necessary reports through the use of our proprietary, state-of-the-art software

Whether we’re providing a standard ladder assist, a comprehensive SoloScope inspection, or any other service you need, you can count on Ladder Works to deliver exceptional quality work in a consistent, reliable manner. This will help you confidently communicate expectations to your policyholders, improving their overall experience.