Would you consider outsourcing your clients' claims to an advocacy service in order to devote more time to building your business?
- No (74%)
- Yes (14%)
- Not sure (12%)
Most advisers would prefer to manage their clients’ claims ‘in-house’, according to the results in our latest poll.
As we go to print, around seven in ten advisers (69%) have voted against the proposition that they might consider outsourcing their clients’ claims processes in future. However, the remaining three in ten have either said they would consider outsourcing their claims work (17%) or haven’t made up their mind yet (14%).
Well-known adviser, Jon-Paul Hale, has weighed in with an open mind, which includes the possibility of outsourced claims services becoming a part of advice businesses in future. He said he expects to see claims assistance as a starting point to full claims management in adviser businesses in future, noting he already provides this service for some advisers and for direct clients who also need help with their claims.
…this will be a logical step in building a successfully licensed advice business
He added, “As we move into the licensed environment this will be a logical step in building a successfully licensed advice business and claims often need as much if not more advice than implementation of cover.”
Notwithstanding Hale’s approach, however, the majority of advisers appear to remain steadfast in their view that personally handling their clients’ claims is a large part of what gives their service value and meaning to their clients.
Our poll remains open for another week and we will welcome your views…