Lead management for the financial claims management sector

Claims management is a varied industry, and its businesses face many issues. They deal with a wide variety of customers, each with needs that are specific to them and the nature of their claim.

Because of this, financial claims lead management can be a vital part of providing the most effective professional service you can in this sector. How well you manage your leads can be what sets you a cut above your competitors and helps you cultivate a reputation for efficiency.

So what sort of things should you be thinking about when it comes to lead management in the claims management sector?

Broad range of claims

Within the claims management sector, there are a broad range of industries and categories that businesses will deal with. For example, some of the claims that you might handle include:

• PPI
• Buildings insurance
• Loss of earnings
• Personal injury or customer injury
• Employee liability claims

Because of the variety of possible claims, robust lead management is important. You should ensure that leads can be filtered to the right staff member or team as quickly as possible. This helps you better show the customer you’re aware of their needs, and you’re able to meet them quickly.

Handling leads quickly

The variety of claims that it’s possible for people to make mean there’ll often be a steady stream of leads for your business to filter. While this does keep customers coming in as people make a claim, you’ll also want to ensure that each lead is dealt with efficiently. If a claim can be handled quickly and efficiently, it lets staff move on to the next lead and handle their query much faster. This can help avoid a backlog of work starting to build up, which also helps avoid the risk of leads getting neglected while staff handle others.

This is where effective lead management can help. While the information you collect initially helps filter leads to the right team or staff member, collecting as much information as you can helps at other stages too.

For example, call centre agents might need to pass a lead on to their supervisor, or someone with more experience on their team. In cases such as this, your lead management system will have all the relevant information ready. This means no one has to start from scratch or ask the customer for information they’ve already given, meaning a faster service for them.

PPI claims deadline

One of the major issues facing the claims management sector is the fact that the Financial Conduct Authority has announced a deadline for PPI claims. After 29 August 2019, no more PPI claims can be made.

Because of this, customers might be a little more frantic to see their claims resolved before the deadline passes. By using lead management software to make the claims process as smooth and efficient as possible, you can avoid a sudden influx of them overwhelming your team. This can hugely benefit the customer too, as they’ll feel reassured and confident that their claim is being handled professionally.