THOSE LITTLE TERMSby Robert CarperSIU, SUBRO, BI, IA, RAC, CP, BOP, ARB are some terms we as insurance professionals use on a regular basis. We are familiar with this lingo and it is commonly an efficient way to communicate.
However, sometimes the customer, insured and claimants and others typically are confused and put-off by such terminology. As we all seek to enhance and improve the customer experience, we should try to eliminate these or minimize these terms in our customer communication. Many of these terms aren’t understood by the customer. As we verbalize such terms we may find in some cases the customer will find someone who does understand them which could mean the retention of an attorney, public adjuster or others who will possibly perplex the claim path to resolution. Often times plain English works best.
Remember, unless you have educated the customer in this area, acronyms privy to the insurance industry sometimes results in puzzlement for our customers.
SIU - Special investigations unit
SUBRO - Subrogation
BI - Bodily injury
PD - Physical damage
IA - Independent appraiser
RAC - Report of accident claim
CP - Commercial Property
BOP - Business Owners Policy
ARB - Arbitration
No comments:
Post a Comment