Open, ongoing dialogue between insurer, broker and policyholder is critical to success, according to the latest findings from the Direct Commercial Limited (DCL) Broker Barometer.
Broker confidence is driving this long-standing three-way approach. According to the poll, 81% of brokers agree that strong three-way relationships between MGAs or insurers, brokers and policyholders are essential to achieving better results for clients.
This is particularly relevant when it comes to managing claims and reducing claims costs.
The data also highlighted the preferred mechanism for achieving this optimal dialogue: in-house claims handling.
The poll revealed that 92% of brokers believe that it is important to work with firms that have an in-house claims service. 82% of brokers stated that in-house claims teams are more responsive.
Conversely, the barometer revealed significant frustrations with outsourced models. 85% of brokers cited poor communication, while 69% pointed to delays and 47% reported they struggle to obtain detailed claims information.
DCL’s sustained engagement with brokers and clients has led to improved claims outcomes and stronger customer retention across its portfolio, the firm noted.
This success is attributed to leveraging over 20 years of commercial motor specific data and significant investments in its in-house claims department.
Carl Cripps, Claims Director of Direct Commercial, commented: “When policyholder and their brokers are spending considerable sums with you, they should have the ability to sit with their insurer and discuss the claims they’ve had.
“That’s why we hold quarterly claims reviews for every broker and their clients, no matter their size. These bring together the client, their broker and our claims team to talk through each case. That approach turns what could be frustration into understanding, and understanding into trust.”
DCL’s Claims Department (internally dubbed as DCL’s “Customer Care Department”) now represents more than half of the firm’s headcount.
By handling claims internally, the MGA is able to achieve faster resolutions, tighter loss control and closer relationships with brokers and clients alike.
DCL’s internal claims process facilitates faster decisions, tighter loss control, and clearer updates, leading to greater accountability and a performance edge. Clients participating in regular claims reviews are reported to renew year after year, impressed by the transparency and support
Cripps added: “Claims are where relationships are tested. By keeping that process in-house, we maintain accountability and transparency. The result is better claims outcomes, stronger retention and, ultimately, brokers who have greater confidence in the service we deliver.”
In addition to its claims focus, DCL also announced the second phase of its Broker Portal in September, giving brokers faster control, increased efficiency and sharper insight.
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