Soft skills differentiate good from great in London Market claims: Marsh’s Reynolds

The importance of soft skills in London Market claims management cannot be overstated with the ability to communicate effectively and navigate interpersonal relationships essential, according to Marsh’s Alex Reynolds.

Speaking at the inaugural London Claims Social hosted by Gracechurch, the Chief Claims Officer said the ability to build trust and demonstrate empathy alongside technical knowledge was crucial for successful claims handling.

Reynolds – who leads Marsh’s claims proposition in the UK across specialties, industry and client segments – highlighted the necessity of building strong client relationships.

“In claims management, technical skills will only get you so far,” he said.

“It’s the ability to understand and respond to the emotional state of the client and build trust, even before a claim arises, that differentiates a good claims handler from a great one. Clients need to feel heard and valued, especially in stressful situations,” Reynolds continued.

He emphasised the role of effective communication in the claims process and using language that clients can understand.

“Miscommunication, and particularly a failure to communicate in a clear and timely fashion, can lead to dissatisfaction and disputes, which ultimately affects the insurer’s reputation… By honing our communication skills, we can ensure transparency and build trust with our clients,” Reynolds said.

Giving his keynote speech at the Gracechurch event, Reynolds also touched upon the importance of empathy and patience for claims professionals in the London market.

“Handling claims involves dealing with people who are often in distress or under significant pressure,” he said.

“Empathy allows us to connect with clients on a human level, showing that we understand their situation. Patience is equally important, as it helps in managing difficult conversations and finding mutually agreeable solutions.”

Reynolds noted how the London market’s unique structure adds another layer of complexity, with the ability to manage relationships and communicate amongst fellow coinsurers effectively becoming even more vital. He said claims handlers who possess these skills are more likely to achieve faster resolutions and higher client satisfaction when a claim is disputed.

“When clients feel understood and supported, they’re more likely to accept outcomes, even if they’re not exactly what they hoped for,” Reynolds said.

While technical proficiency remains essential in claims management, claims professionals need to take a “balanced approach” – integrating both hard and soft skills – in order to thrive in the ever-evolving landscape of London market claims management, Reynolds concluded.