McCarron Coates advises on lowering insurance claims

Specialist insurance broker McCarron Coates has produced guidance for fleet operators to assist them in offsetting increases in operational and fuel costs by keeping claims low and vehicles on the road.

The supplier has drawn from the recent FIFA World Cup and forthcoming Christmas football fixtures in producing the guidance below, saying that application of “terminology and tactics of the beautiful game” to operators’ risk scenarios can pay off.

First class team tactics vital, broker stresses

Good risk management “is all about having first class team tactics,” McCarron Coates opens with. Fleet managers need to review their team and identify its strengths and weaknesses, playing to the former and minimising the latter.

Once they know those, they can put the tactics in place that will help them to win the insurance game. “If they need help with this, they should have an in-depth team talk with a broking specialist.”

Training and monitoring a further key part

A fleet manager should analyse their team players’ performances on the road and identify where training in certain required skills can make a huge difference to the overall outcome, McCarron Coates continues.

If the broker has its own in-house claims team identifying trends in claims, that suggests a weakness in defence. The fleet manager can also use certain tools available to them through devices that monitor driving behaviours and red-flag areas needing improvement.

‘Set goals for risk management’

Good risk management involves setting goals, whether that is in an overall reduction in claims, one regarding the length of time within which a claim must be reported, or reduction of claims in a certain key area. By working closely with a broker, it can become very evident to operators what the goals need to be, McCarron Coates advises.

The tackle: All about the mindset

Improving a claims experience “is all about tackling hard in certain areas.” Whilst that may seem like a bind, it can make a huge difference to insurance premiums and reduce outlay to an extent that fleet managers may not have felt was possible.

If an operator has the mindset for the tackle, it can make a huge difference to a fleet’s bottom line, McCarron Coates believes.

Video assistant referee for coaches

Video action replays can really assist defence of a claim, proving a third party’s claims against a fleet cannot be verified. However, operators need the necessary technology. “If advice on which can keep your fleet safer and tick the box of fleet insurers, talk to a specialist broker,” is the approach.

Penalties: Don’t underestimate their importance

Even if an operator wrongly feels that savings in insurance premiums will not warrant the effort put in, it should be concerned about having to go to penalties.

If risk management is poor, and a fleet manager has not addressed key and evident issues, the business could be held liable for an accident or incident and could even find a Director or key manager within the company being held personally liable. “Addressing key risks is all about protecting the back line, so don’t leave a fleet exposed to the fate of a penalty shoot-out, in a court case or tribunal,” McCarron Coates stresses.

Risk management begins early

Risk management can start at a recruitment stage, assessing whether a driver could adversely affect a fleet’s claims experience and lead to it paying the price, through increased premiums. “Work with a specialist fleet broker and you can identify which drivers added on to your payroll are costing you dear.”

Post-crash analysis ‘in minute detail’

Poring over the detail of a loss can be key to future improvement. “A competent claims team within a specialist broker’s business should examine the ‘what, where, when and how’ of a crash, in minute detail, identifying trends that enable a fleet manager to determine whether issues relate to a particular route, time of day, vehicle or individual driver,” says the broker. “Having great management information is vital to improvement.”

Park the bus… or the coach

An operator needs to make sure its security is tip-top around a yard or parking location, McCarron Coates continues.

“Having the right security in place can make a massive difference. Sometimes, it’s out of your control, as you must use designated areas within service stations. That just isn’t enough to prevent thieves targeting your vehicle.”

Playing out from the back

Anyone can feel themselves having to defend their position because their play has been poor. “It’s how you play out from the back that matters,” the broker advises.

“Even the worst fleet risks should remember it’s a game of two halves and, dire as their first half ‘play’ may have been, if they have the resilience and determination, plus the right coaching from an insurance broker, they can turn it around and turn in clean sheets when it comes to their monthly claims reports.”