{"id":73773,"date":"2024-10-21T10:57:23","date_gmt":"2024-10-21T00:57:23","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=73773"},"modified":"2024-10-29T11:56:37","modified_gmt":"2024-10-29T01:56:37","slug":"poll-result-outsourcing-claims-services","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/10\/21\/poll-result-outsourcing-claims-services\/","title":{"rendered":"Poll Result &#8211; Outsourcing Claims Services"},"content":{"rendered":"<div id=\"polls-332\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>My advice practice is open to the possibility of outsourcing our clients\u2019 life insurance claims processes to an external specialist firm.<\/strong><\/div><div id=\"polls-332-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Disagree <small>(56%)<\/small><div class=\"pollbar\" style=\"width: 56%\" title=\"Disagree (56% | 44 Votes)\"><\/div><\/li>\n\t\t<li>Agree <small>(33%)<\/small><div class=\"pollbar\" style=\"width: 33%\" title=\"Agree (33% | 26 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(10%)<\/small><div class=\"pollbar\" style=\"width: 10%\" title=\"Not sure (10% | 8 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_332_nonce\" name=\"wp-polls-nonce\" value=\"57983869f8\" \/>\n<\/div>\n\n<p>The vexed question of whether advisers would consider outsourcing their clients&#8217; life insurance claims process to an external specialist firm met with a very mixed result in our latest poll.<\/p>\n<p>At the time of going to press exactly half of poll respondents said that they would not be open to the possibility of outsourcing their clients\u2019 claims processes to a specialist firm, while another 46% agreed they would consider doing so.<\/p>\n<p>Just 4% were not sure.<\/p>\n<p>This latest poll follows strong engagement with our report on the outsourcing arrangement struck by <a href=\"https:\/\/viridianadvisory.com.au\/\" target=\"_blank\" rel=\"noopener\">Viridian Advisory<\/a> for the processing of the AFSL firm\u2019s client TPD claims (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2024\/10\/07\/viridian-outsources-tpd-claims\/\" target=\"_blank\" rel=\"noopener\">Viridian Outsources TPD Claims<\/a>).<\/p>\n<p>We noted that for many, if not most risk advice propositions, the critical assistance provided by an adviser to a client in the submission of their life insurance claim has been an integral and fundamental service associated with their commitment to the client. Historically, it has almost always been a \u2018given\u2019.<\/p>\n<p>However in today\u2019s advice environment an emerging host of factors have contributed to advisers, advice practices and dealer groups considering the merits of outsourcing their claims services or at least the more challenging claims. We noted that those factors include:<\/p>\n<ul>\n<li>The ever-growing complexity associated with submitting a claim and achieving a successful outcome for the client, especially given the sometimes lack of expertise possessed by non risk specialist advisers and generalist\/holistic practices<\/li>\n<li>The prolonged delays associated with many claim submissions and the associated time and effort required of the adviser and support team members<\/li>\n<li>Mitigating any potential action brought by non-sector legal firms engaged by the client, where the advice business or dealer group may be subject to litigation over the role it played in a declined claim outcome<\/li>\n<\/ul>\n<p>Our poll is open for another week and we welcome your thoughts&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The vexed question of whether advisers would consider outsourcing their clients&#8217; life insurance claims process to an external specialist firm met with a very mixed result in our latest poll. At the time of going to press exactly half of poll respondents said that they would not be open to the possibility of outsourcing their [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":73776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-73773","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-polls"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/73773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=73773"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/73773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/73776"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=73773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=73773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=73773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}