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Navigating the Insurance Industry: Insights and Strategies for Effective Work Relations

Discover what sets working for insurers apart in "The View from the Other Side of the Fence" by Heather Parkinson. Learn about building relationships, managing claims, and settling losses effectively. Gain valuable insights on how to navigate the industry and ensure success in your role.

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Navigating the Insurance Industry: Insights and Strategies for Effective Work Relations

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  1. THE VIEW FROM THE OTHER SIDE OF THE FENCE Heather Parkinson

  2. What is different from working for insurers? • Getting the job • Agreeing terms • Defining the role • Building a relationship

  3. Starting the job • Understand the business • Effects of the incident • Overview of business systems and data • Policy cover • Identify and win over the right people • Building a relationship

  4. First meeting with insurer’s loss adjuster • Initial information request • Setting the reserve • Mitigation measures

  5. As the loss progresses • Admission of liability • Interim payments • Provision of information • Managing expectations • Managing the client

  6. Presenting the claim • What do we claim for? • Trend – how far do we go? • Where is the line between optimism and fraud?

  7. Settling the loss • Strategy • Managing expectations • Selling the settlement

  8. Lessons I’ve learned • How to make sure I’m paid! • Managing people including when I need to bully my client (or anyone else) • How to make a real difference

  9. Lessons I’ve learned • This isn’t a game – how hard it is for the Insured • Information requests • Response times • The importance of the right team

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