Vero’s virtuous circle of broker service
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By leveraging technology and prioritising customer satisfaction, the insurer is driving innovation in claims handling for commercial property and specialty insurance
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CUSTOMER SATISFACTION and operational efficiency are paramount in insurance, and Vero is hard to match as a trailblazer in this area.
Vero’s innovative approach to handling commercial property and specialty claims is not only setting new industry standards but also reshaping the landscape of insurance services in Australia.
Vero provides quality business insurance products to help protect Australian businesses. Because Vero believes that impartial specialist advice is paramount when it comes to selecting insurance, it offers its products through insurance brokers. With over 190 years of experience in providing insurance, Vero delivers an award-winning claims service so brokers can be confident in recommending Vero to clients. Vero provides brokers with access to one of the largest risk engineering teams in Australia, as well as local business development managers and underwriting and claims teams who bring expertise, intelligence and experience to their relationships.
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Regular training lifts retention at firms by 14–18%
Why training is key:
“We have deliberately placed brokers at the heart of our operation, using invaluable feedback as a critical component of our continuous improvement process”
Kira Pellicano,
Vero
“This is a people-based business first and foremost, and our approach to handling claims is to focus on strong communication and accurate, clear decision-making,” explains Kira Pellicano, head of commercial claims, commercial property and specialty lines at Vero.
This emphasis on human interaction in an increasingly digital world has proven to be a key differentiator for Vero. The company has strategically positioned brokers at the core of its operations, leveraging their feedback as a crucial element in the continuous improvement process. Vero is in constant pursuit of optimal performance, with no upper limit – only the next refinement in a virtuous circle of catering to changing market needs.
“We have deliberately placed brokers at the heart of our operation, using invaluable feedback as a critical component of our continuous improvement process,” Pellicano says.
In an industry grappling with talent shortages, Vero’s ability to maintain high standards of service is noteworthy. Worldwide, low levels of interest among young people in pursuing a career in insurance are long-standing.
Against this tough background, Vero has implemented a multifaceted strategy to attract and retain top talent in the complex claims landscape.
“Vero Commercial Claims has some fantastic people, and we are a small and dedicated team working alongside our broking partners to service our mutual customer,” Pellicano states.
Recognising the challenges in the current market, Vero is focused on technical training and development to retain staff. This investment in human capital not only enhances the skills of its team but also contributes to employee satisfaction and loyalty.
This approach is backed by academic studies that show that when companies offer both a strong onboarding program and ongoing training, it can positively influence retention rates. Career advancement is a key reason why employees change jobs, and Vero is addressing this head-on.
“We are working on building our internal technical training suite and broader capability framework in an effort to create stronger career pathways,” Pellicano says.
In an era in which artificial intelligence and automation are revolutionising industries, Vero has found a way to leverage these technologies without compromising the personal relationships that are crucial in the insurance sector.
“AI is obviously highly topical at the moment across all industries, and the insurance claims business is no different. From our perspective, it provides an opportunity to strengthen relationships with clients,” Pellicano says.
The company has been utilising automation for several years, strategically removing simple tasks from the responsibilities of its workforce. This approach allows its team to focus on core decisions and enhancing the customer experience. As AI continues to evolve, Vero sees this technology as an opportunity to further improve its claims service offering.
This is an area that is expected to develop quickly in the future, with nearly half of risk and compliance professionals at insurers expecting new technologies such as AI to exert a transformative or major impact on the industry, according to a Moody’s Analytics report on Navigating the AI Landscape.
“We’re continuing to expand our dedicated commercial total loss, assessing and recoveries teams to better support the dedicated claim managers and provide a more tailored claim experience”
Sima Boghossian,
Vero
Vero recognises that the true measure of success lies in customer satisfaction. To this end, the company has implemented innovative measures to track and improve customer experience.
“NPS [Net Promoter Score] is a widely used mechanism to track customer experience and provides valuable feedback; however, feedback for claims can be limited,” Pellicano says.
To address this limitation, Vero developed a simple customer satisfaction survey that is sent to the key claim contact upon claim closure. This real-time feedback is immediately provided to the claims officer managing the file, along with leaders, managers and coaching staff.
A key strength of Vero lies in its access to one of Australia’s largest motor repair networks. This network plays a crucial role in enhancing the claims experience of customers, offering both efficient and quality repairs.
“Our Vero Motor Claims team knows the multifaceted impact of accidents on business, and with one of the largest repair networks in Australia we deliver repair solutions to meet every business customer’s needs,” Boghossian states.
The network allows Vero to provide swift and effective
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Embracing technology but keeping the human touch
Leveraging Australia’s largest motor repair network
Published 12 Aug 2024
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Training boosts employee retention rates
55%
of insurance executives see the challenges of talent acquisition and retention preventing growth
69% of employees are likely to stay at a company for 3 years if they experience great onboarding
55% of insurance executives expect the need for digital skills to increase by 2030
Sources: “The retention effect of training: Portability, visibility, and credibility”, The International Journal of Human Resource Management; “Don’t underestimate the importance of good onboarding”, Society for Human Resource Management (SHRM); “Accelerating change in the insurance industry”, Attensi white paper
Source: Moody’s Analytics Navigating the AI Landscape report 2023
Transformative 17%
Tech such as AI expected to transform insurance
Scale of impact insurers expect AI to have on risk and compliance
Major 32%
Moderate 36%
Minimal 13%
None 2%
At the heart of Vero’s success lies a deeply ingrained customer-centric philosophy. This approach is not just a buzzword but a fundamental principle that guides every aspect of its operations.
A customer-centric approach as a cornerstone
Talent acquisition and retention build foundation for excellence
Customer satisfaction as a measure of success
Vero’s dedicated commercial motor claims team exemplifies the importance of specialised services, offering a level of expertise and personalisation that sets a new standard in the industry.
“Our commercial claims team provide dedicated service that can be tailored to meet the clients’ individual business needs,” says Sima Boghossian, national manager for commercial motor claims at Vero.
This tailored approach allows Vero to address unique challenges faced by businesses in the event of motor-related claims. The company is continuously expanding its specialised teams to enhance the claim experience.
Boghossian elaborates: “We’re continuing to expand our dedicated commercial total loss, assessing and recoveries teams to better support the dedicated claim managers and provide a more tailored claim experience. Dedicated commercial centres of excellence will further elevate the service experience.”
This commitment to specialisation ensures that clients receive not just prompt service but also professional handling of their specific claim requirements.
A tailored approach to commercial motor claims
repair solutions, minimising downtime for businesses. Vero’s ability to leverage the scale of Suncorp’s network, while customising the offering to fit its niche proposition, is a significant differentiator in the market.
As the insurance industry continues to evolve, Vero’s approach serves as a blueprint for success.
In the world of commercial property and specialty claims, the winning formula lies in balancing cutting-edge technology with the irreplaceable value of human expertise and relationships. By combining a dedicated commercial motor claims team with access to one of Australia’s largest motor repair networks, Vero has created a powerful synergy.
The insurer’s dedication to delivering excellence in claims service is highly rated not only by customers but by peers and the industry overall. Vero recently clinched its fifth consecutive Gold Mansfield Award, one of the most prestigious accolades in the Australian insurance industry. This remarkable achievement highlights the company’s commitment to excellence, while also shedding light on the innovative practices that are reshaping the landscape of commercial property and specialty claims.
The Mansfield Award, voted for by broker partners, serves as a barometer of excellence in the insurance claims sector. Vero’s winning streak is no small feat, especially considering the increasingly complex nature of commercial property and specialty claims.
“We are absolutely thrilled to have won the Gold Mansfield Award for the fifth consecutive year. It is recognition of our team’s delivery of great claims service,” says Pellicano.
A claims reputation second to none
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Vero Insurance. The information is intended to be of a general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon it – please make your own enquiries.
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The results speak for themselves. In the 2024 fiscal year, Vero refined its OneTouch process (for simpler property claims under $10,000), achieving customer satisfaction scores of 9.4 out of 10 for all approved claims managed through this channel.
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Copyright © 2024 KM Business Information Australia Pty Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
AU
Copyright © 2024 KM Business Information Australia Pty Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
AU
Vero’s dedicated commercial motor claims team exemplifies the importance of specialised services, offering a level of expertise and personalisation that sets a new standard in the industry.
“Our commercial claims team provide dedicated service that can be tailored to meet the clients’ individual business needs,” says Sima Boghossian, national manager for commercial motor claims at Vero.
This tailored approach allows Vero to address unique challenges faced by businesses in the event of motor-related claims. The company is continuously expanding its specialised teams to enhance the claim experience.
Boghossian elaborates: “We’re continuing to expand our dedicated commercial total loss, assessing and recoveries teams to better support the dedicated claim managers and provide a more tailored claim experience. Dedicated commercial centres of excellence will further elevate the service experience.”
This commitment to specialisation ensures that clients receive not just prompt service but also professional handling of their specific claim requirements.
Vero’s dedicated commercial motor claims team exemplifies the importance of specialised services, offering a level of expertise and personalisation that sets a new standard in the industry.
“Our commercial claims team provide dedicated service that can be tailored to meet the clients’ individual business needs,” says Sima Boghossian, national manager for commercial motor claims at Vero.
This tailored approach allows Vero to address unique challenges faced by businesses in the event of motor-related claims. The company is continuously expanding its specialised teams to enhance the claim experience.
Boghossian elaborates: “We’re continuing to expand our dedicated commercial total loss, assessing and recoveries teams to better support the dedicated claim managers and provide a more tailored claim experience. Dedicated commercial centres of excellence will further elevate the service experience.”
This commitment to specialisation ensures that clients receive not just prompt service but also professional handling of their specific claim requirements.
At the heart of Vero’s success lies a deeply ingrained customer-centric philosophy. This approach is not just a buzzword but a fundamental principle that guides every aspect of its operations.
“This is a people-based business first and foremost, and our approach to handling claims is to focus on strong communication and accurate, clear decision-making,” explains Kira Pellicano, head of commercial claims, commercial property and specialty lines at Vero.
This emphasis on human interaction in an increasingly digital world has proven to be a key differentiator for Vero. The company has strategically positioned brokers at the core of its operations, leveraging their feedback as a crucial element in the continuous improvement process. Vero is in constant pursuit of optimal performance, with no upper limit – only the next refinement in a virtuous circle of catering to changing market needs.
“We have deliberately placed brokers at the heart of our operation, using invaluable feedback as a critical component of our continuous improvement process,” Pellicano says.
At the heart of Vero’s success lies a deeply ingrained customer-centric philosophy. This approach is not just a buzzword but a fundamental principle that guides every aspect of its operations.
“This is a people-based business first and foremost, and our approach to handling claims is to focus on strong communication and accurate, clear decision-making,” explains Kira Pellicano, head of commercial claims, commercial property and specialty lines at Vero.
This emphasis on human interaction in an increasingly digital world has proven to be a key differentiator for Vero. The company has strategically positioned brokers at the core of its operations, leveraging their feedback as a crucial element in the continuous improvement process. Vero is in constant pursuit of optimal performance, with no upper limit – only the next refinement in a virtuous circle of catering to changing market needs.
“We have deliberately placed brokers at the heart of our operation, using invaluable feedback as a critical component of our continuous improvement process,” Pellicano says.