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Markel Insurance

05 Mar 2020

How we achieved our five-star rating for claims

You’ll have no doubt already heard the fantastic news that we both retained our maximum five-star status in the ‘Insurance Times five-star rating report Commercial Lines 2019/2020’ and took the coveted number one spot.

Our managing director, Neil Galjaard, says "the rating is testament to the hard work we have put in to build strong relations with our brokers, enabling them to offer a specialised service that can be passed on to the end client".  

Markel achieved a five-star rating by brokers in the area of claims – a result of us implementing a quicker, cleaner process that works well for the broker and the end client.

A huge part of this initiative was the establishment of our Prompt Resolution Team (PRT), whose objective is simple: settle claims quickly, with minimal hassle to the policyholder, whilst crucially maintaining a high degree of personal service for the broker.

The team was deliberately given a high-settlement authority. This saves valuable time by referring claims to senior managers. What’s more, the team is encouraged to adopt a ‘settle first’ attitude. In short, we streamlined the process of settling straightforward claims, by empowering staff with the tools and freedom they need.

And we did this without losing the personal touch - the team is small, meaning brokers always speak to someone with full knowledge of their customer’s claim, and the ability to deal with their questions.

Pre-PRT, first-party property claims—including those sent to loss adjusters—took on average 91 days to resolve. The PRT’s average is 35 days. The fastest claim to date has taken an incredible 21 minutes from initial written notification to payment.

The PRT’s efforts certainly didn’t go unnoticed at awards season either, with the solution seeing Markel take home the Customer Care Award at the Insurance Post Claims Awards 2019 and the Claims Service Solution of the Year Award at the Insurance Times Claims Excellence Awards 2019.

We’re extremely proud of our PRT and wider claims team whose role in brokers rating Markel as their number one insurance partner has been absolutely invaluable.

To learn more about our fair and fast claims service or why brokers voted us their #1 insurer, please get in touch.
 

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Amanda McGarry
Amanda McGarrySenior Business Development Manager - Central
Kate Bootham
Kate BoothamHead of Business Development - North
Michael Petchey
Michael PetcheyHead of Business Development - South
Next article in series

05 Mar 2020

How we achieved our five-star rating for underwriting

Just in case you’ve not already heard the good news, we both retained our maximum five-star rating in the ‘Insurance Times five-star rating report Commercial Lines 2019/2020’ and also took the coveted number one spot