The Loss Adjusting Awards are unusual in one key respect. While half of the awards are based on submissions judged by an expert panel, the other half are determined by direct, large-scale, informed input from UK claims professionals, submitted through our annual Loss Adjusters Insight Study.
Claims handling specialists - predominantly at insurance companies, but also at broking firms - on the contacts database of Post magazine and Insurance Age are emailed a URL link to the Loss Adjusters Insight Study questionnaire.
This has two main sections.
One deals with performance in commodity-type claims (defined as those of less than £100,000). Here, respondents are asked to grade each adjusting firm they've dealt with during the previous 12 months, from A to D, on six aspects of service:
We also invite them to comment frankly on their adjusters' performance in each of these aspects of service.
The second main section tackles performance in major losses (those of more than £100,000), addressing four key aspects of service:
Again, respondents are asked to grade the adjusters they've dealt with during the past year, A-D, on each aspect of service - and to provide supporting comment.
At the conclusion of the study, all input is carefully verified and any firms that have not attracted a statistically-significant number of bona fide responses are put aside. We then convert the remaining firms' performance grades in each aspect into percentage scores. From these, we calculate rankings in each aspect of service for commodity-type claims and for major losses - and for service in commodity-type claims and in major losses overall.
Four of the awards will be directly determined by the results of the Loss Adjusters Study 2012:
Quite simply, the firm achieving the highest score in each category will earn the relevant award. These awards are entirely in clients' hands. The only one way an adjusting firm can win one is by delivering a consistently first-class service.
Results of the Loss Adjusters Insight Study 2012 will also play an influential role in determining the Loss Adjusting Firm of the Year, though this will be an overall judgement taking into account developments within the business, the full range of client comments and any formal submissions.
Scores, rankings and respondent comments from the study will be combined to produce the third annual Loss Adjusters Insight Report, a 60-page document providing detailed, hard-hitting performance assessments for all the leading firms. This will be published immediately after the Awards.