Category claims

PROPERTY REPAIRS

Builders and surveyors

We have full data sets covering the fees incurred, the claims outcome (fulfilled, cashed, zero settlement) and the final indemnity spend for surveyors.

For building repairs we have regional indemnity averages, national indemnity averages and claims management fees comparisons.

Third Party Administrators

UK and USA

Covering UK, USA and some other territories, we have an extensive data set on TPA’s.

Fees, conversions to Loss Adjusters, indemnity controls and claims outcomes are all covered. We also have data on low value claims as well as more complex and specialist claims.

Overall claims performance

Loss ratios to target operating models

Multiple data points covering the key metrics which provide valuable insights into how an insurance book of business is performing.

Our insights cover loss ratios, elapsed days from FNOL to closure, reopening rates, claims outcomes, average and total indemnity spend.

PROPERTY CLAIMS

Hands on claims experience

We have managed claims, claims teams, repair networks, built contents supply chains, created TPA functions, and run loss adjuster panels. This has been done this as a supplier to the industry and on behalf of global insurers. We undertook a full review of the primary UK Third Party Administrator (TPA) followed by an in depth file review audit.

TRAVEL

Largest UK bank

We have run a full blown multi year, multi product travel insurance tender. Starting from mapping out all requirements to the final implementation of a new provider. Here we worked with a very talented Cyber team who had in-depth knowledge a crystal clear vision of what the output needed to look like.

PACKAGED ACCOUNTS

Strategy and procurement

On behalf of a major UK bank we undertook a complete market review of the packaged account provider.

We designed a and issued an RFP and launched a full blown tender process to ensure that the banks customers received value for money. We were able to identify and recommend a new provider and a transformation project launched to move from the incumbent to the new provider.

UPGRADES AND MEDICAL

Evaluation and implementation

In many ways the standard travel product is the easy bit. The upgrades (voluntary) and medical conditions (prescribed) are the hard bit.

Working with third party medical assessment providers we were able to navigate our client through industry applied scoring to ensure that we could provide a continuation of cover even with a change of provider.

REPAIR NETWORKS

Strategy and management

On behalf of a major global insurer we have designed the repairer strategy, tendered to the market and implemented a new repair solution.

Using multiple data points and sources with target average repair costs we were able to rationalise a network and make operational improvements with target cost deductions achieved. As importantly, we have significantly improved customer service metrics.

MOTOR SALVAGE

Design and implementation

Sometimes it’s not just changing the supplier that is required, but the entire process.

And the supplier.

Working with a motor client we completely redesigned the salvage process Starting with when the agent was deployed, to onsite engineering led categorisation, inside storage, and then the auction process.

Not only was the final product exemplary from a compliance standpoint, but returns back to the client were also improved.

IT AND LEGAL

Consolidation and procurement

Claims IT in motor was delivered as a programme of works to consolidate outdated technology deals and combat a complex pricing structure that saw overlapping charges at multiple points.

Similarly a consolation of legal firms and introduction of more fixed menu pricing created sizable savings.