
Broker Offerings
Insurance Brokers are an integral part of the insurance claims process. Pharos Loss Management was founded with the simple mission of improving the claims process. Here we set out the various ways that we can assist Brokers in improving the claims experience for their client.
Free Claims Data Analysis and Reporting
Unless you are already collecting and analysing your claims data it can be difficult, if not impossible, for you to understand what the claims side of your business is costing you and what opportunities you are missing. As such, we make it our mission to understand your business's needs when we are quoting to provide with a Claims Handling and Administration solution or a modular Claims Preparation service for your business. This means that we are happy to come in and do a complete review of your existing claims handling operations and data so that we can make effective recommendations on how to make your claims handling as efficient and cost effective as possible.
Broker Claims Assistance
Claims Handling and Administration
Claims can be an issue in brokerages of all sizes. Pharos offers a range of third party administration options, including white-labelling, to handle the day to day claims administration processes, so that you can focus on winning new work and building your business.
Claim Preparation - Referrals
The role of a Broker is to advise and guide their clients to secure the best insurance available for their needs. Traditionally, a Broker has been renumerated on a commission basis for the policies that they sell. Our offering of a commission on collected fees back to brokerages for their initial referrals is a continuation of the traditional insurance model. We are just up front and public about it.
Claims Preparation Subscriptions
We offer the option of a modular white-labelled claim preparation subscription to Brokers. Once the domain of only the largest brokerages, an internal claims preparation and claim advocacy service can be a point of distinction for your brokerage, no matter your size. The model works much like a pre-paid mobile plan, where you purchase a set number of hours each month and then can on-sell those services to your clients. Being truly the first step in turning the claims process from a cost centre into a profit centre.