Connected Claimsibisworldwide.com/wp-content/uploads/2016/06/Day-1... · 2016. 6. 3. · Connected...

Connected Claims

Connected ClaimsJohn Fearn

Motor Claims Product & Strategy Director

The role of the third party administrator (TPA)

• Acting for insurers / managing general agents / brokers / corporates• Binder – underwriters giving away their pen to MGAs• Self-insured – captive• Large self-insured retention

• Commercial and personal lines• Private claims department from first notification of loss to settlement /

repudiation• Scalable model for multiple clients• Managing and selecting the supply chain for motor claims & repair network

• The alignment of all partners to achieve objectives

Driver – FNOL – Roadside Recovery – Body Shop – Engineers – Salvage Agent

© Broadspire by Crawford & Company

The role of the third party administrator (TPA)

• Indemnify the insured – “customer”

• Indemnify the third party – (fault claims)

• Recover losses – (non-fault claims)

• Control claims cost – supply chain and third party claims

• Claims data collation and analysis – leading to best practice and operating model

• Process management

• Focus on customer service

Results – reduced service issues, increased satisfaction & renewal


Where are we now?

• UK motor claims process is a challenging environment - numerous organisations involved

• The existing UK motor claims landscape:• Non-fault v fault – non-fault claims are a commodity £££ - claims are sold and

revenue generated from the repair and hire

• Claims farming – generating non-premium revenue through referral

• Driving up the cost of claims:• Credit repair

• Credit hire

• Recovery

• Storage


Connected and safer vehicles

• Enhanced connectivity for drivers

• Technology improving safety in vehicles:• Reduced minor collisions• Less claims and repairs

• Early identification of maintenance needs

• Possible automated alerts to manufacturers

• UBI data from telematics:• Driving safer behaviours on roads• Real time analysis and feedback


Automated notification & deployment of supply chain• Utilising best technology for crash detection

• Vehicle connectivity for automatic notification of accidents

• Defined supply chain driven and supported by technology

• Removing manual instruction:• Less hand-offs, delays and human error• Improved customer journey

• Consolidating every part of the supply chain:• Recovery, repairers and hire companies• Creating an effective eco system

• More control and influence of claims process• Providing the customer with concierge type service driven by technology


Automated notification and deployment of supply chain• Maximising technology and data for quicker and more informed

instructions

• Limiting the ambiguity of accident notification

• Use of telematics data to assist in assessing:• Type and severity

• Condition of vehicle

• Vehicle make and model

• Cleaner and more informative instructions to supply chain

• More effective management of claims process


The opportunities

• Notification after an accident can give:• The opportunity to push the repairs to a specific supply chain• Cost control through economy of scale• Commercial relationships

• Ability to create a smarter network of repairers:• Opportunity to driver larger volumes and better commercial relationships

• See real time reviews of the local repairers:• Make choices through an app supported by the back office call centre

• Updates and repair arrangements to be made through a digitised facility

• Enabling a rating system and consumer choice:• Through use of smart phone with feedback mechanism


Consumer choice


The Benefits

• Improved claims reporting process

• Greater control for organisation bearing the liability cost

• Better management of supply chain and service

• Consumer to have more control and empowered

• Reduced overall claims cost

• Failure demand removed from claims system

Greater control for organisation bearing the liability cost


Considerations

• Data Protection – who owns / controls the data

• Technology fitted as original equipment (OE)• Will manufacturers own the process?

• Will repairs be driven to manufacturer body shops?

• Will cost increase?

• How will consumers react?

• Are claims departments ready to change?

• Are process adaptable to change?


Driverless vehicles

• Changes the landscape of motor claims• What type of insurance?

• Who will have liability cost?

• How will claims and repairs be processed?

• Will there be a reduction in accidents?


Driverless Vehicles

• Legislation needs to be tested

• Learning curve dictated by:• Evolution of more safety enhancements to vehicles

• Leading to fully autonomous vehicles

• Speculation and unknown metrics

• But its definitely coming


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