16 Jan 2020
State of the Market Update - January 2020
We understand that what happens in the event of a loss is the reason that our clients buy insurance in the first place.
At Alesco we know it is essential to provide a first-class claims service to support the insurance programmes that the broking divisions arrange. Our claims team is structured by specialist class and predominantly based in London, working very closely alongside the broking teams to ensure a joined up approach. In each sector, the claims team is comprised of experienced professionals whose goal is to produce outstanding results by adding value in the claims process. In short, we will explore every angle and make every effort to arrive at a proper and successful conclusion to our client’s claims.
When it comes to providing claims advice, our in-house team is committed to delivering efficient results for our clients.
Our claims specialists have many years’ experience in handling significant, complex claims, and have negotiated successful outcomes often over and above expectations. Certain members of the team have also held previous positions within the claims teams of the major London market insurers, as well as in certain cases, law firms or loss adjusters, and this blend provides a wealth of varying experience for us to deploy as a clear benefit for our clients.
We will advocate on your behalf, echoing your objectives and using our leverage in the insurance market place. Our reputation with all the key insurers - and their lawyers - is very clear and helps us to get optimal claims resolution for our clients.
The minimum expectation of any client should be that its broker undertakes all the necessary administrative and communication functions to ensure a notice of claim or potential claim is properly and promptly presented to insurers.
Naturally, we execute these duties as a matter of course. We do not, however, leave it at that. Our approach is to go well beyond these minimum obligations.
We will engage with our client – and with the insurers, on the client’s behalf – at every stage of the life of the claim. We will provide advice, counsel and guidance at every stage, beginning with the initial notification, through to settlement. The client executive on the broking side will also be involved, to ensure that the insurers’ response is in line with the coverage intent and design. We will engage with the insurers’ claims professionals, their underwriters and any appointed loss adjusters or solicitors, to ensure a properly commercial response.
As our client base consists of large and sophisticated corporations, engaged in ventures of a hazardous nature with assets of high value, it is no surprise that claims handling is of paramount importance for them.
The key service benefits our integrated claims team provide are: