How we believe insurance debt collection should be handled

At Collectia, we have many years of experience with professional handling of debt collection in all industries - for all types of companies.

For many years, we have had a particularly large number of customers from the insurance industry, which has resulted in us having a dedicated team that exclusively handles debt collection for insurance companies.

In this post, we focus on insurance debt collection and how we as a professional debt collection company believe debt collection in the insurance industry should be handled.

At Collectia, we have our own product that we call insurance debt collection - a product tailored to the insurance industry, with a dedicated team that has many years of experience in debt collection for insurance companies.

1. Debt collection is complex - insurance debt collection is no exception

From time to time, debt collection can be complex, fraught with legalities and various issues that need to be addressed before the collection process can continue.

Collection cases for the insurance industry are no exception. At Collectia, we have therefore chosen to have a dedicated team for insurance cases and the insurance industry in general.

By having a dedicated team for insurance cases, the customer gets to have a team that understands them and their cases.

We believe this is an absolute must for successful handling of complex insurance cases.

2. Set requirements for reporting

Debt collection cases are resolved over time - some cases are resolved quickly, while other cases are resolved over a longer period of time or never if a debtor goes bankrupt or dies.

That's why it's extremely important that you as a customer have an overview of the cases; how far they are, what the next action is, and which cases have been resolved and settled.

Unfortunately, there are still many lawyers and debt collection companies where reporting is sometimes lacking, which can have major administrative and financial consequences.

If your lawyer or debt collection company has inadequate reporting on your cases, you won't have an overview of your cases and it can be difficult to reconcile which cases should be closed in your own bookkeeping.

3. Demand a dedicated team or dedicated contact persons

Insurance companies often have many debt collection cases, so it can be important to have a dedicated contact person or team to reach out to if questions, problems or challenges arise.

We always recommend that insurance companies have a dedicated contact person or team they can contact. This way, you skip the queue and don't have to familiarize the consultant with your situation every time.

4. Respect for debtors and creditors

Whether it is a classic debt collection case or debt collection for the insurance industry, we at Collectia believe that all parties in the debt collection process should be treated with respect.

We have the utmost respect for the fact that a debtor may have financial challenges and thus not be able to pay their outstanding debt. But we also have great respect for the fact that the creditor wants money for their products and services.

Especially for insurance companies, who often rely on long-term relationships, it's important that debt collectors respect this, and that despite non-payment, customers often return to those who have treated them well - even during the collection process.

5. Ensure smooth transfer

Whether you need reminder or debt collection services, or both, one thing is essential: it's easy.

For dunning and debt collection to be easy, it's essential that cases can be handed over, transferred and created quickly, efficiently and perhaps even automatically.

We suggest that you demand that your future partner - debt collection lawyer or debt collection company - ensures that the cases are transferred and created in an efficient manner.

At Collectia, for example, we have integrations to a wide range of common ERPand accounting systems, file transfer, the ability to create cases online or to integrate with your own systems.

Do you want us to help you?

Whether you are a business or an insurance company, we at Collectia are ready to help you achieve your debt collection goals.

We have many years of experience in professional debt management - from reminder services, sending reminders, imposing fees and interest, to debt collection, extrajudicial and judicial debt collection.