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  • Sophia Bunt

Navigating the Claims Process

When placed in the uncomfortable, unfortunate position where you need to make a claim on your insurance policy, having an experienced financial adviser by your side can make the process simpler, smoother, and overall, more effective.

Having a dedicated risk adviser who knows insurance policies inside and out to assist you with your claims experience is highly beneficial, and can be crucial to ensuring that your rights are protected, and that your claim is paid.

It is daunting to make a claim without the assistance of a specialised risk adviser, and many individuals find themselves struggling with complex forms and paperwork, and difficult call centre staff. Many find themselves unable to understand the terms and necessary steps that must be taken to ensure that their claim is successful. Some claimaints find themselves falling victim to claims fatigue

Advisers, especially risk specialists, have high levels of experience in the claims process, and know exactly how to prepare the requirements for a claim, communicate with the insurer and ultimately achieve the correct outcome. They also possess the skills and knowledge to match a client's medical and physical condition to the terms and definitions in their insurance policy. Their extensive experience with the insurance claims industry means that they work for you with empathy and efficiency throughout the entire process.

The close relationship that an adviser has with their client is unmatched during the claims process. Navigating a claim is an emotional, difficult time for many people, and the relationship and support that your adviser will provide you is invaluable. Advisers can offer you support, empathy and assistance at the time when you and your family need it most.

Not only can advisers work to get the right outcome for your claim, they also are your biggest- and most powerful- advocate, should an unjust or incorrect decision occur. Advisers are passionate about achieving the most just and beneficial outcomes for their clients, and where this has not been fulfilled, your adviser will utilise their extensive knowledge and experience to recognise and amend these injustices.

Although the benefits of having an adviser when making a claim are clear, these benefits are reinforced by statistical evidence provided by APRA (2021). For instance, death claims of a total sum of $1,368,220,512.54 were achieved by claimants with advisers. This is harshly contrasted with $227,114,614.35 bought in by those making a claim without adviser assistance.

Additionally, 10 times as many decisions are reversed for those with advisers vs. those without one. You are also over 50% more likely to withdraw both Death and Disability Income Insurance claims if you are claiming without adviser assistance. This is likely due to the increased levels of claims fatigue that many individuals experience when navigating the complex claims process. The knowledge and helping hand that an adviser provides helps reduce this claims fatigue, and progress claims to completion.

Making a claim without an adviser carries risks, and may eventuate in a claim not being paid, or you receiving an unjust outcome. The tools, extensive knowledge, assistance and relationship that an adviser can provide at this difficult time are highly beneficial in assisting you and your loved ones to successfully navigate the claims process.

Have you or someone close to you attempted to make a claim and been faced with an unjust or incorrect response? We're here to help. Get in contact with us to navigate the claims process with an adviser by your side.

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