Category Supply Chain

You only know what you know. No matter how mature your claims supply chain function might be, you can never been 100% sure that you are getting the best deal. We have multiple data sets that form part of our benchmarking analysis service. Contact us or book a meeting for more details.

Examples of our data sets


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.

Contact us for more details

Loss Adjusters

Domestic and Commercial

At our disposal is a full set of fee data covering various claims types at every value banding.

Of course fees are only one aspect of a loss adjusters output and we have adherence to fee scale data as well as the all important average indemnity controls.

Contact us for more details

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.

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LEGAL RATES

Global

Over the years we have built up a comprehensive set of legal rates covering most territories around the globe.

These are split by individual hourly rates according to seniority, by type of matter, and by the location the services would be provided.

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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.

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Irrespective of which class of insurance business you might be managing, there are consistent themes relevant to all that are helpful to bear in mind. With years of experience and a track record of delivery, we know what these are.

◉ Never just look at the fees. Your claims indemnity is always more important.
◉ Supplier behaviour is usually more important than the commercials put in place.
◉ Create an environment where good performance is commercially rewarded.


It also really helps if you are able to understand the procurement / supply chain process AND the insurance claims process. This is where we excel.

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.

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MOTOR CLAIMS

Extensive industry experience

We have re-engineered repair network processes, implemented IT projects and claims functions, reimagined salvage provision, and negotiated multiple ancillary product line deals o behalf of multiple insurers. We found multiple legal firms being deployed across multiple classes of business with inevitable scope creep.

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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.

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LONDON MARKET

Top 5 syndicate

We have run tenders and managed all manner of suppliers across all classes of business within a leading Lloyds of London syndicate. We ran a formal process to find an outsourced claims solution to take low value and run off claims following an acquisition.

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Consultancy experience gained from working for one of the leading Lloyd’s syndicates across multiple classes of business.

PROPERTY TPA’S

Procurement and management

We undertook a full review of the primary UK Third Party Administrator (TPA) followed by an in depth file review audit.

As a result, self serving behaviours from the supplier were identified which were leading to indemnity leakage. New commercial arrangements agreed to reflect a more optimum claims process which lead to substantial savings.

Similarly a data audit of the North American TPA’s showed that sub optimum claims processes were being implemented with an over reliance on use of Loss Adjusters. Revised processes and commercials were negotiated which again led to significant claims cost savings.

LEGAL MATTER MANAGEMENT

Design, consolidation and implementation

We found multiple legal firms being deployed across multiple classes of business with inevitable scope creep.

Once we had established the true spend by firm, we set about rationalising the panel based on performance metrics. Once this was achieved, we designed and implemented a set of billing protocols which each firm had to sign up to.

Finally we engaged with a legal matter management software provider who were able to actively apply the billing protocols and rates agreed on a matter by matter basis.

CYBER INCIDENT RESPONSE

Procurement and negotiation

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.

Whilst we often lead claims procurement projects due to our extensive knowledge, there are occasions where we immediately recognise we need to adopt a background supporting role. This was one of those occassions.

We provided procurement and negotiation support on a full blown RFI/RFP covering Incident Management, legal services, IT Forensics, Public Relations and other related IT providers.

LOW VALUE AND RUN OFF CLAIMS

Procurement and implementation

We ran a formal process to find an outsourced claims solution to take low value and run off claims following an acquisition.

Each provider had very different pricing models that could not be changed and therefore we created a complex data analysis tool to be able to accurately compare costs and benchmark against internal operational costs.

SUPPLIER PERFORMANCE MANAGEMENT

Process design and application

We provided the performance management blueprint for claims supplier management so that different classes of business were able to proactively manage claims suppliers.

By applying this model as well and commercial improvement methods, savings were soon realised on claims spend.

Extensive experience of product, service and supplier evaluations for travel claims. Multi million pound tenders undertaken and implementation of new providers.

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.

HIGH NETWORTH PRODUCTS

Sourcing and re-negotiation

The premium high net worth bank asked us to run a market review to ensure that the best customer value was being realised for their premium product lines.

A through market review across multiple brand identities was launched in conjunction with multiple highly involved stakeholders.

Renegotiation of terms and conditions were concluded with all parties very satisfied.

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.

Full motor claim supply chain experience and demonstrable track record of achievement.

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.

VEHICLE GLASS

Sourcing and negotiation

We have renegotiated multiple glass deals over the years. Because of the nature of fixed unit price deals, a change in book can leave the insurer at a considerable disadvantage. Coupled with rising costs and inflation we believe it is often a requirement to review commercial deals more regularly than previously done.

Changing technology has also led to the requirement for multiple supplier panels which we have successfully implemented.

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.

PARTS AND PAINT

Commercial negotiation

Negotiating parts and paint on behalf of a large retail insurer.

Using multiple data points from within the business we were able to renegotiate commercial deals to reflect a growing and changing book of business and make it as future proof as we could.

Having previously worked for contents providers we are uniquely placed to provide insight and strategy for insurers when it comes to contents spend.

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.

With backgrounds covering loss adjusting, building repair networks, supply chain management and auditing, we have unparalleled experience in insurance property supply chains.

LOSS ADJUSTERS

Sourcing and management

From being a loss adjuster out in the field we’ve moved to managing teams and then entire loss adjusting panels. We have extensive data on fee bandings, outcomes and indemnity spend.

We are able to audit panel performance on a case by case basis, covering technical application as well as commercial considerations.

We also have a tried and tested methodology for getting the best performance out of loss adjusting firms.

BUILDING REPAIRS

Strategy and deployment

Having previously run repair networks on behalf of insurer clients this has given us a real hands-on knowledge of how to build a repair strategy for insurers.

We have in depth experience of the eco system of building repairs, covering drying, surveying, restoration, asbestos and restoration. We have set insurer strategies and deployed best of breed solutions.

HOME EMERGENCY

Sourcing and procurement

Either as a stand alone product, a bolt on to a main domestic policy or as a value added cover to the main terms, we have expensive experience in undertaken market reviews of home emergency propositions.

We have previously run multiple audits on performance and then strategic reviews of insurers home emergency propositions.

CONTENTS

Design and implementation

Having previously worked for contents providers we are uniquely placed to provide insight and strategy for insurers when it comes to contents spend.

We have created and delivered strategies for multiple clients for their contents spend. Primarily we focus on validation, repair and then replacement solutions in order to manage indemnity spend.

Main contents items are flooring, jewellery electrical goods and bikes.

ALL OTHER SERVICES

Supply chain management

In addition to the main commodities, a complete property supply chain requires a lot more additional services. We have led strategies and tenders for all of them.

Suppliers will typically cover the following;

Glazing services, alternative accommodation, drainage solutions, asbestos testing and removal, garden items, DIY kit, weather validation and prediction services, fraud detection and forensics.