acis-symposium het claimproces nader bezien · gc/4d claim fast fast complexity waiting on...
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www.vanameyde.com
Het claimproces nader bezien
ACIS-Symposium
29 November 2014
Drs. A. Smedeman
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Content
Introduction Van Ameyde Group
The Van Ameyde claim handling proces
Effect of an inefficient claim handling process
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Van Ameyde Group
First independent claims managers
and adjusters established in 1945.
Helps over 2500 clients achieve
their goals.
Market Leader
Over 850 motivated professionals
More than € 700 million managed
funds
Handles over 450.000 claims
annually
Corporate Governance
ISAE 3402
IFRS compliance
D&B tier 1 rating
Our Network
Europa: 61 offices in 43 countries
USA & rest of the world:
Complemented by Partners
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Is claim handling changing?
Crisis in financial markets
Results are under pressure
Challenging market
Legal framework shifting
Changing consumer demands
Technological development
Internet and social media
Commoditization of insurance
products
Requires
Faster
More efficient
Client focus
Transparancy
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4
Payment &
closure
Reporting &
closure
Automated
payment
3
Repair
Repair chain
Self repair
Replacement in kind
1
Web form
Mobile app
Phone
Intake Damage
amount
2
Database
Bulk 80%
Fraud engine
The claim proces: One call completion (household claims)
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1
Web form
Mobile app
Phone
Intake
4
Payment &
closure
Reporting &
closure
Automated payment
Push
communication
3
Repair
Repair chain
Self repair
Push
communication
The claim proces: Complex claims (household claims)
Damage
amount
2
Complex 20%
Fraud engine
Push
communication
Assessors
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Chain integration
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Research
Benchmark:
25,000 MTPL claims in The Netherlands
Material damage
Finding:
different average indemnities
€ 1,746 local MTPL claim
€ 1,958 GC/4D MTPL claim in NL
12% higher claim payment
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Reasons of higher settlement
Rule of thumb:
Longer claim cycle, higher indemnity payment
Stating the obvious?
Complicated claims stay open longer?
Outcome of research:
Rule of thumb is correct
But, limited
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Process steps compared
CLAIM
INTAKE
CHECK
COVER
POSITION
DEFINITION
NEGOTIATION
PAYMENT &
RECOVERY
CLOSING
Local
claim
GC/4D
claim
Fast
Fast
Complexity
Waiting on
notification
Waiting on
confirmation Complexity
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Leads to
Less chance for
• Low settlement if negotiable
• Preventing exaggerated claims
Because of
• Diminishing evidence
• Limited opportunity for surveying
• Third party is ‘fed up’
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Claim Handling usually one part of insurance
CANADA
• Landing-gear doors
• Fairings
UNITED KINGDOM
• Engine
• Landing gear
UNITED STATES • Wing loading
edges
• Engine mounts
• Tailfin
• Nose section
CHINA
• Wing-to-body panel
• Leading edge of tailfin
• Rudder
ITALY
• Horizontal stabilizers
• Fuselage sections
SOUTH KOREA
• Wingtips
• Tail cone
JAPAN
• Wing trailing edges
• Wing boxes
• Fuselage sections
AUSTRALIA
• Wing flaps
SWEDEN
• Cargo doors FRANCE
• Passenger doors
65% of all parts are sourced from third
parties…!