Digital Insurance Pint: Facility Fiasco – Special Episode

Facility is known as the “last resort” for customers who don’t fit into a regular carrier’s appetite. It’s also becoming a significant source of frustration and unnecessary expense for brokers. In this episode, the guys don their hip waders and dive into the murky waters of FA. This special episode covers a number of FA-related topics including: Are payments of 10% of GWP for processing, 12% of GEP for claims and a 6% service charge enough compensation for a decent client experience? Why is Intact taking the experience back in time by requiring paper and snail mail? Why can brokers no longer order UW reports at the point of sale? This makes it close to impossible to quote accurately. The extended (and unmet) service standards will cause more client billing difficulties and further exacerbate broker processing costs Luckily, this episode isn’t just a “whine” and cheese affair, the guys also get down to targeted solutions and what can/should be done to turn the situation around. Resources: Tom Reid Jeff Roy Steve Earle Adam Mitchell Digital Insurance Pint Podcast