31 Jul The Benefits of First-Party Auto Claims Management for Fleet Managers
Claims management companies provide assistance, efficiency, and better results to organizations, allowing them to manage their business while the claims team manages the claim itself. Vehicle accidents can create impactful delays and safety risks for drivers, costing money and creating HR problems. From the initial notice of loss to the often long delay in the repair process, having a claims management company can help ensure your fleet doesn’t suffer unnecessarily.
The key is not just using a claims management company. Rather, it is necessary to find the right one for your business, one that can address the individual needs of your organization and provide the best resources and guidance throughout the process. That is often a company that can support first-party auto claim management.
How do you choose the right claims management company then? Begin by understanding your needs and goals. Consider an organization that can “do it all” for you, but only if they have the background in insurance that is necessary to master these services. Organizations often put a lot of focus on things like cost, and while that is important, you also need to see results. Take the time to learn as much as you can about the company, how it operates, and the results it can provide.
Ultimately, the best claims management company solves a problem for you, providing customized claims management that meets your needs with the tools necessary to manage a larger fleet with efficiency. You also want an organization that is easy to use, one that makes sure your business is functioning at the best level possible.
Consider these important factors when selecting a claims management company for your needs.
One of the initial benefits of first-party auto claim support is efficiency. Consider what a first-party auto insurance claim insurance team means first. First-party auto claims management focuses on managing the claims process between the policyholder, which is your organization, and the insurance company. While this may seem like a simple and straightforward relationship, the complexities and liabilities in the insurance industry have changed so much over time that it is not very difficult and complex to simply receive the compensation owed so your fleet can stay on the roadways.
One of the core benefits then of a claims management company providing first-party auto claims management is their ability to improve efficiency in this process. Addressing the underlying communications barriers, streamlining the claims process, and minimizing the delays help to ensure claims are handled faster.
Fleet Response specializes in improving efficiency throughout the claims process. There are several ways that this occurs. The first is in creating a customized solution to meet the company’s specific needs. This customized claims management program improves efficiency right away because it is designed to address the very specific needs your organization has.
In addition to this, it streamlines the claims-handling process. Using our tools, we can provide on-demand access to the data and reports necessary throughout the process. This has a direct impact on the way organizations manage their claims. It helps to reduce the administrative burden on fleet managers that is often the underlying and indirect cause of delays in fleet claims management – through no fault of their own.
With Fleet Response’s solutions in place, the entire process is faster and there is less time managing data or trying to answer questions about accident reports or vehicle repair needs. For companies, this is one of the best benefits because it saves you time and energy while minimizing losses.
The claims management process is costly in many ways. For most fleets, there is a cost in any delay. If your fleet is not on the road, it is not making money. Yet, this leads to problems with contracts and costly fees for late deliveries. That is not what the claims process should do for you.
Rather, the use of our first-party auto claims management actually reduces costs for your fleets, and any money saved is money that offsets the cost of using this service. It nearly always pays for itself in the long term as a direct result.
How does Fleet Response’s auto claims management actually save organizations like yours money? There are numerous ways. It starts with saving money on claims handling. You have a team that is handling this for you – which means your staff is not spending their time (and your labor dollars) trying to gather data or navigate the complex needs of insurance companies. That keeps them on track for other tasks as well.
In addition to this, it helps save on repair costs. That is because, without a doubt, the claims process aims to support fleets in receiving the full compensation owed to them after these types of incidents. As a direct result, it helps to ensure your vehicles get back on the road at the least cost possible to your organization.
First-party fleet auto claims management also supports your efforts to reduce liability claims. With more data, better visibility into the incident, and enhanced response time and communication, you reduce liability claims which, ultimately, saves you money.
Improved Driver Safety
Utilizing Fleet Response does more than just handle the claims process. It goes further in addressing the unique needs of your organization across all aspects of your fleet (which ultimately improves efficiency and saves you money as well). Yet, an underlying benefit of this is in the area of improved driver safety. Today, improving driver safety is paramount for many reasons – lower liability costs, less turnover, and better-satisfied employees. It also ensures your organization is not overspending to constantly meet driver demand due to turnover.
There are numerous ways that having a first-party auto claims management team can help to facilitate improved driver safety. One of the simplest of those ways is improving overall maintenance. Maintenance is often a thorn in the side of every fleet, but it is a necessary process not just to keep drivers safe on the road but also to ensure those vehicles live out their expected lifespan. Yet, the cost of managing and overseeing maintenance on a vehicle-by-vehicle basis is challenging in any situation. Who has time to manage this on their own?
Often, companies turn to drivers to require them to handle safety checks prior to getting on the road, but even in doing that, there are mistakes that happen and the checks do not happen thoroughly enough. However, implementing a fleet safety program can make a massive difference in an organization’s ability to manage fleet maintenance. It automates the entire process and then integrates that process into various practices within your organization.
In doing this, the program works to address the very specific needs of the organization and identifies the risks to the vehicles which in turn helps to identify safety risks to drivers, and then helps to mitigate those risks. This is done through visibility tools – which shed light on what is needed and what is going to need to be done to keep a vehicle on the roadway and a driver safe behind the wheel.
Focusing on Change Within Your Organization
The investment in first-party auto claims management for fleet managers is essential. Though it may seem like another step or added task, it is actually one of the most valuable tools for streamlining operations and minimizing risks.
The use of a claims management service like Fleet Response helps organizations in many ways. That includes reducing their costs, ensuring claims are managed in an efficient (and full) manner, and ensuring that drivers stay on the road and safe while operating those vehicles.
If your organization has not done so yet, now is the time to learn more about implementing first-party auto claims management in your operation. We encourage you to reach out to Fleet Response now to learn more about how the investment can be an easy win for your organization even in an increasingly intense and challenging environment.