Launch of New Claims Advocacy Service

A new national claims advocacy service for advice practices and dealer groups has been launched.

Called TPD Claim Support, the new firm is the product of long-standing industry contributors Trevor Battersby and Susan Hedt, who have a combined 25 years in claims experience.

While the two Queensland-based founders and their support team of claims specialists offer to serve advisers and consumers across any form of lump sum or income protection product claim event, the name of the firm highlights the area in which Battersby says much of the focus resides.

Battersby told Riskinfo TPD-related claims are often the most technical and complicated of all products in the life insurance claims spectrum – which also include death, terminal illness, trauma and income protection – “…and all the complex processes with insurers, medical professionals and those necessary communications with anxious family members that absorb so much planner and practice capacity.”

…a specialised service intended to optimise the chances of a claim being approved

The new service, which was formally launched in early May after 18 months of research and preparation, is intended to offer advisers an opportunity to outsource what can often be a protracted and time-consuming task for which most advice practices have historically funded from renewal commission income. In today’s new advice environment, however, Battersby says firms such as TPD Claim Support can offer a solution for advisers and their clients that will save them and their business significant volumes of time, while providing a specialised service intended to optimise the chances of a claim being approved, and without lengthy delays.

Battersby also mentions that in addition to the time savings associated with this service, advisers have also seen the benefit to them in ‘de-risking’ their business by outsourcing this often complex and challenging process to specialists.

…clients are only ever required to make payment if the claim has been accepted

The commercial model for TPD Claim Support applies a combination of either fees or a very small percentage of the claim amount, depending on the type of product, which is paid by the claimant or the policy holder. Importantly, however, clients are only ever required to make payment if the claim has been accepted.

Battersby adds his firm deals direct with many claimants, especially those referred to them via superannuation funds. However, he stresses that when serving clients referred by advisers or dealer groups, ‘ownership’ of the client is always retained by the referring adviser/dealer group, together with full management of the claim proceeds.

While the business holds corporate authorised representative status for the purpose of delivering claims advice services, it does not deliver financial advice.

Advisers and others interested to learn more can click here.