In the insurance lifecycle, there are two moments that truly matter to businesses: when they first buy a policy, and when they suffer an incident and need to make a claim. Here, the claims service is critical. Yet, too often, the claims experience is overlooked at the point of purchase. Businesses may be drawn in by price, coverage or brand – all important elements. But without a responsive, knowledgeable claims service – and a strong record for paying out valid claims – even the most comprehensive policy is little more than a piece of paper.
This is especially true in cyber insurance. Here, the stakes are immediate and business-defining. Whether they’re a direct target or if impacts cascade from a third party, cyber incidents can disrupt operations, revenue and reputation. In these moments, businesses don’t just need a payout; they need a claims service that facilitates a streamlined and fast response, providing clear instruction to supporting partners to guide the business toward recovery.
What makes a claims service stand out?
An experienced, technically-led team
Not all claims services are created equal. While many policies may look similar on paper, the structure and expertise behind the claims team can make all the difference when it matters most. For brokers, one of the top considerations should be how the claims function is built. A lawyer-led model – common across the industry – can slow down the process: the majority of claim have a technical component, but not every claim needs legal intervention. That’s why a technically-led approach, with incident response leading the way to triage and contain the event first, is key, ensuring faster decisions and more practical support.
Experience is another critical factor. At CFC, our team handles over 4,000 claims annually and has been dealing with cyber claims for over 20 years, giving us a deep pool of knowledge and a strong sense of what works. Rarely do we encounter a case that’s entirely unfamiliar. We’ve structured our team so that adjusters specialize in specific jurisdictions – something few others do. This means when we speak to an insured for the first time, we bring not just technical insight but a fluent understanding of their region. That builds trust from the outset and sets the tone for a high-quality service experience.
Speed and transparency
When a cyber incident hits, time is everything. That’s why our service level agreements are tight, with initial reach out from our in-house incident response team within 15 minutes (when notified via phone or our Response app) and a formal claims adjuster response within 24 hours. Incident response should be treated as a priority, focusing first on getting the incident under control and the business back up and running. While legal considerations are important, our technical-first approach ensures operational recovery is front and center. It means we can minimize harm, with the right people taking swift, targeted actions to reduce fallout and therefore limit subsequent legal work.
Transparency is equally vital. From the outset, we’re open about what coverages are available under the policy, highlighting areas that will be most beneficial. We actively encourage insureds to review their policy and understand timeframes and how costs will be handled. To support this, we provide guidance documents, such as what to expect when you submit a claim, alongside practical advice on making the claims process go as smoothly as possible. These resources outline expected timeframes, vendor involvement, and how insureds can help us get them back online with as little disruption as possible.
Red flags to avoid
Inflexibility and outdated processes
A rigid, inflexible approach to claims handling is a red flag. While all claims are handled according to the specific policy terms and conditions, where possible we try to adopt a collaborative and pragmatic approach. Our team works with clients to understand why costs were incurred and makes fair contributions when justified. A collaborative mindset ensures the claims process supports recovery, not hinders it.
Another warning sign is a lack of technology-driven processes. If a claims team isn’t tracking meaningful data or feeding insights back into underwriting, it’s missing a vital feedback loop. Strong claims services use analytics to understand risk, refine products, and ensure policies are fit for purpose – especially under the jurisdictional-specific frameworks in place to ensure financial firms act in good faith, avoid foreseeable harm, and deliver fair value and good outcomes for retail customers. Structuring teams by jurisdiction is another positive indicator, allowing adjusters to build legal fluency and deliver more relevant, responsive support. Ultimately, the best claims teams adapt to the client’s needs, whether that’s being hands-on with SMEs or acting as a strategic sounding board for larger firms.
Claims acceptance: A true measure of support
Insurance is meant to be a safety net for businesses. So it’s no good if that net doesn’t hold when it’s needed most. At CFC, our 99.1% cyber claims acceptance rate is a reflection of our commitment to paying valid claims and supporting clients through a crisis. But acceptance alone isn’t the full story. The added value lies in the expertise we bring at the moment of need. In cyber, our policy acts like a retainer for a team of experts. The cost of hiring an incident response firm independently can be overwhelming. With us, businesses gain direct access to a panel of specialists from the first minute.
This partnership approach is the foundation of a strong claims service and why this service should be a policy priority. We’re not here to dictate, but to support insureds from the outset, helping them understand the process and how to prepare effectively. The result? A smoother claim, a minimized incident and a faster path to recovery. In this sense, we don’t just pay claims – we help clients move past them.
Get in touch if you’d like to learn more about what sets a strong service apart. Our team would love to hear from you.
