An Insured's perception of the brokerage services will be influenced by the way a claim is handled. What should the Broker do?

Developing a system to monitor the progress of a claim demonstrates a proactive approach to managing the claim process and maintaining communication with the insured. This system ensures that the broker can provide timely updates and necessary support to the client, which can significantly impact the client's perception of the brokerage services.

By having a structured way to track and manage claims, the broker can identify potential delays or issues early on and address them effectively. This transparency helps build trust, as the insured feels supported and informed throughout the process. A well-monitored claim can lead to a smoother resolution and enhance client satisfaction.

In contrast, simply paying all claims immediately may not be feasible or appropriate, as it could lead to financial complications for the brokerage and may not ensure that the claims are legitimate. Constantly calling the adjuster could create an impression of ineffectiveness or may hinder the claims process rather than help it. Finally, assisting in determining the amount of indemnity on all claims may not be within the broker's role, as this typically falls under the adjuster's expertise. The key lies in having a systematic approach that effectively manages the claim process while keeping the insured informed and involved.