Does your company have a loss management protocol? If your company doesn’t have a procedure in place, your organization is at risk of reduced revenue and increased customer dissatisfaction. Learn the elements of an effective loss management protocol to help get your claims process back on track.
While you don’t know when a customer will call in to report a loss, you do know that it will happen. Having experienced staff, the right software and an efficient workflow will help you manage claims in a way that will reduce costs and improve customer retention.
Elements in an effective loss management protocol should include:
- Creating a consistent method for FNOL and handling claims
- Creating a workflow that reduces processing delays and unnecessary costs
- Ensuring all claims are handled with compassion
- Have a procedure to analyze claims as a part of loss management improvement
Handling claims consistently efficiently and with kindheartedness reassures the client and decreases unnecessary costs. Analyze your company’s loss management protocol to determine how you can improve workflow and increase efficiency.
An effective loss management control starts with a professional FNOL contact center. To learn more about the claims handling process, contact the experts at Actec today.
Employee attendance issues should be handled in an effective manner that conveys the company standpoint across without putting the employee down. Read on for eight simple steps that can help you manage the process in a thoughtful manner, one that ensures everything goes smoothly when an issue arises.
- Prepare for the meeting by gathering all the facts, including dates of absence or tardiness, reasons given for each incident, and any supporting documentation or notes.
- Meet with the employee privately. The sales floor, lunch room or an open cubicle are not the right settings for a discussion about employee absenteeism.
- Be sure they know this meeting is for information-gathering rather than condemnation or threats.
- Remember, this employee is a valuable part of your business. Your focus should be on solving a problem, not punishing someone for breaking rules.
- Explain how the missed work days hurt the business.
- Ask questions about the reasons for the employee’s absences.
- If there is a consistent reason for the employee absences, see if there is a solution you can offer.
- After the meeting, monitor your employee’s attendance and address any additional concerns as soon as they arise.
In addition, it’s important to have a solid process for tracking employee absenteeism. Click here to learn more about the solutions available.
First notice of loss is a crucial component of loss mitigation and claims management for a wide variety of medium to large-scale businesses. What does your notification and claims handling process look like? How actively engaged are you in your loss control and claims handling procedures?
Most businesses lose money simply by failing to pay enough attention to these important aspects of doing business in the 21st century. Read some of these popular FNOL blogs to learn more.