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Administering your company’s Corporate Motor Insurance Scheme

25 August 2015 By Digital Curator Leave a Comment

Administering your company’s Corporate Motor Insurance Scheme-credence-agency

Image via Flickr user Axion23

When you are not primarily an insurance company, administering a corporate motor insurance scheme can be a very serious challenge. This becomes even harder if you have a large fleet of company cars, in addition to a staff motor insurance scheme mediated by the company. Insurance, especially when handling claims, can be such a hustle for someone who is primarily in Administration, Finance, Procurement, or HR, depending on the company. We have prepare a small cheat sheet that can help you to take charge of your company’s motor Insurance Scheme and give you that satisfaction of being “on top of things” Here is the list

1. Take Charge!

The number one cause of stress for employees who manage motor vehicle insurance issues is lack of clarity on who is in charge of what. The process of coordinating motor insurance concerns usually involves at least all the departments we listed above, and depending on the organization, the person who is in charge may be in any one these departments. If you are involved in the process but it is unclear who exactly is in charge, then you have two options. First, you can decide to seek clarity from your boss as to where the buck stops when it comes to the company’s motor insurance scheme. If your boss doesn’t know, you may be in trouble, but work towards clarifying who is in charge of it. The second option is to take charge. Many workers fear additional responsibilities and then go ahead to waste good energy scheming how to avoid the work. If you take charge of it, officially or otherwise, you will have control over it and it will make it easier to administer the scheme.

2. Draw a Map

Secondly, draw a process map that shows how each process should be handled. If you are not into maps, you can use a list showing all steps each case goes thorough before it is resolved. Process maps (or their equivalent) can help you to figure out what needs to happen at every stage and are a good way of measuring your progress down the line. The only predictable thing when it comes to insurance is when you need to pay your premiums. You can never plan when to make claims because they result from accidental events. A process map will make you ready to handle any unforeseen situation with clarity, and without the need to figure out everything each time something happens.

3. Use Checklists

The beauty of everything in insurance is that the processes used by insurance companies are very well mapped out. It is possible to develop checklists to help you handle every claims process, or every motor insurance procurement process. Checklists will help you to be certain that you have done everything required, and you will not need to spend time thinking through every process you need handle. For instance, you may have all the documents needed to file an application for motor insurance cover committed to memory. If you do not translate that to a checklist, you may miss one of the important documents simply because you have no method of verifying that you have filed all documents. Then again, since you don’t fill these forms on a daily basis, it is easy to forget a small detail in the forms. A checklist will eliminate all the stress you may experience in such situations.

See Full Story on capitalfm.co.ke

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Filed Under: Industry, Tips Tagged With: administering motor insurance, corporate motor insurance, motor insurance

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