The case for outsourced FNOL: A guide for motor insurance brokers

When it comes to customer satisfaction, insurance follows a different set of rules to most industries. Customers are normally happiest when they don’t have to deal with their insurer and prefer to renew their annual policy with minimal fuss at a competitive price.

However, when an accident happens and the policyholder needs to make a claim, the process can make or break the entire customer experience. For a long time, many UK motor insurance brokers accepted this as a fact of life. Rather than looking for opportunities to improve their claims process and reduce customer churn, brokers have doubled down on what they do best: selling more insurance. Practices such as offering more keenly priced premiums to new customers than long-standing ones have flourished as a result.

But times are changing. The introduction of the new FCA “price walking” regulations in January 2022 promises an end to this race to the bottom, and a more restrictive environment for insurers and brokers hoping to compete for business on the basis of artificially competitive prices. The pressure is on, therefore, to build a better claims process. Brokers can no longer rely on new customer acquisition to fill the gaps: they need to compete on the basis of enhanced service.

This content focuses on:
• How motor brokers can enhance claims processes to improve customer satisfaction.
• The importance of FNOL.
• Five reasons to outsource FNOL.