making claims management effective and profitable danijela ziser, swiss re, claims forum 2014
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Making Claims management effective and profitable
Danijela Ziser, Swiss Re, Claims Forum 2014
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Source: customerservice.ae
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Source: conversiondoktor.de
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How to be different?
• Run Claims like a business• Automation• Having the right people
Source: pivotalsafety.ca
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More than prompt claims payment……provide a variety of unique, value-added services and expertise
http://www.allaboutfitnesskc.com/services/our-service/
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Shareholder
Clients
Stakeholders
Adjudication
Liability Management
Retrospective Solutions
Stakeholder
External Services
Income/value-add
Net Result = Impact
Operational
Efficiency
Operating Cost
Legal spend
Investment
USD mio
Technical Expertise & Focus
Customer’ Focus
Simplification/ Discipline
Run claims like a business:Foster an entrepreneurial spirit & create impact
There are different levers to pull at different times
FOCUS
Danijela Ziser, Swiss Re | AIIF 2014
AutomationClaims being processed in the "old" way
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Paper / E-mail Closings- Incomplete documents- Non standard formats- No ackowledgement of receipt required
Manual Statements-Time consuming spreadsheet process - Lengthy agreement timecycle- Large query volumes
Delayed Payments- Inconsistent due dates- Timeline driven by reconciliation - No agreement of items payable
Danijela Ziser, Swiss Re | AIIF 2014
AutomationClaims being processed automatically
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Transaction validation- Tech account (TA) message sent early, as soon as the broker books the item - Standard data format- Complete/accurate dataset
Electronic Reconciliation- Real time agreement - Technical/payment transaction linked- Team can focus on queried/ unpaid items.- Early query resolution
Faster Cashflow - Items paid 15 working days earlier- No backlogs - can focus on key items- Financial account (FA) sent as soon as payable
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AutomationBenefits exist for all stakeholders
Increased control and transparency
Single platform access to all markets
Increased speed and efficiency Improved cash flow Immediate, secure and
evidenced delivery of data Reduced risk
What is a (re)insured looking for?
Improved cash flow Processing cost reduction Enhanced client servicing Ability to focus on value added
activities Direct straight-through
processing into any market from worldwide locations
What is a broker looking for?
Processing cost reduction Enhanced cedent servicing Consistent, high quality and
properly referenced data feed Access to current data and
documentation Reduced exposure to dormancy
What is a (re)insurer looking for?
(Re)Insurer
(Re)Insurer
(Re)Insurer
(Re)Insurer
(Re)Insurer
(Re)Insured
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The right skills- the right staff?The Spider Web
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Source: sharonshares.ca
Danijela Ziser, Swiss Re | AIIF 2014 13ricardo.ch
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Danijela Ziser Claims ExpertTel: +49 89 3844 [email protected]
Swiss Re Contact
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Legal notice
©2014 Swiss Re. All rights reserved. You are not permitted to create any modifications or derivative works of this presentation or to use it for commercial or other public purposes without the prior written permission of Swiss Re.
The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the details given. All liability for the accuracy and completeness thereof or for any damage or loss resulting from the use of the information contained in this presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group companies be liable for any financial or consequential loss relating to this presentation.