Draining resources.
Working on claims is both time-consuming and expensive, though Malcolm Harvey suggests outsourcing allows brokers to take control of the claims drain.
At a recent meeting, the managing director of a medium-sized brokerin the north of England expressed his concern about the amount of time
broking staff were spending on claims for clients. He decided to get his
accountant to distribute time sheets in the broking department to
calculate what the actual cost was to the company. Surprisingly, the
amount totalled to over £90,000 a year.
They calculated the figure by taking into account the salary, overheads
and travel costs and the final figure came
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