Both the Financial Conduct Authority and Financial Ombudsman Service have recently highlighted issues around insurers and managing general agents outsourcing claims to third party administrators. Siân Barton examines whether brokers hold similar concerns – and what trends they are seeing in terms of level of service in the current market.
Claims and claims service can be a bone of contention for customers, who sometimes feel fobbed off or uncared for when they don’t receive the payout they expect or the service they have paid for.
This ire is often directed at the broker who sold the policy as customers aren’t always aware of the mechanics, or all the parties involved, when it comes to sorting out an insurance claim.
The regulator is now putting claims service under the microscope. At the Managing General Agents’ Association
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