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It's all about trust and transparency

Knowing all about the legal system and best practices in every single European country visited by its policyholders, the specific country challenges and how to deal best with these, is a mission impossible for insurers. The only solution is cooperation with partners that are experienced in claim handling in these countries. The round table discussions during the World Café at the CBC Conference in The Hague held in June, showed that two issues are majorly important here: trust and transparency.

Knowing all about the legal system and best practices in every single European country visited by its policyholders, the specific country challenges and how to deal best with these, is a mission impossible for insurers. The only solution is cooperation with partners that are experienced in claim handling in these countries. The round table discussions during the World Café at the CBC Conference in The Hague held in June, showed that two issues are majorly important here: trust and transparency.

Participants of the CBC Conference exchanged ideas on what’s crucially important when outsourcing the settlement of claims to foreign partners. Since insurers have to pay the bill, they want to be able to see what is going on and on what basis decisions in the process have been made. That requires good and regular communication and transparent claims processes. “If your foreign partner is able to deliver this, in terms of sophisticated IT and competent staff, there is a good basis for trusting each other”, a group of participants concluded.

Trust is key in any kind of partnership, certainly when substantial amounts of money are involved. Having insight into the financial and claims processes of your foreign partners and into the competencies of the people handling claims on your behalf creates mutual trust according to the participants. Besides respect, mutual trust starts with learning to know and understand each other – and the CBC Conference proved to be an excellent opportunity for that!