Brit Selects Taylored Claims Management
07 June 2013
Brit revolutionises its claims handling with Taylored Claims Management
Brit has transformed its claims management capability by integrating Taylored Claims Management (TCM) into its claims handling system. TCM from Charles Taylor Insurance Services (CTIS) will enable Brit to achieve faster claims settlement, ultimately reduce costs and increase efficiency through greater MI and trend analysis.
Brit has appointed CTIS to provide highly flexible claims management solution including enhanced diary management, workflow and CTP requirements. TCM is a menu-based claims management service. It allows insurers to select individual claims services or to completely outsource claims management.
Stephen Card, Chief Executive, Charles Taylor Insurance Services says:
“Brit is market-leading global specialty insurer with exceptional standards of claims management. I am delighted that they have chosen TCM to further enhance their claims management solution. We have delivered a bespoke service to Brit far more cost effectively than some in the market believed possible.
“There is a huge appetite for specialist claims services in Lloyd’s as managing agents work to meet demanding new claims performance standards. We have created TCM as a menubased service to support them at every step of the way. It is designed to be completely flexible and adaptable, so that our services mesh perfectly with our clients’ requirements. This is in complete contrast with the alternatives which expect managing agents to change their procedures to meet the limitations of inflexible systems.”
Using TCM, Brit will receive claims notifications on a fully automated basis and in line with their exact processing requirements. TCM identifies the type of claim, class of business, routes it instantly to the correct claims adjuster and then monitors the progress of the claim. It will allow Brit’s claims adjusters to focus more time on high value complex technical claims rather than routine claims management.
Steve Robson, Group Head of Claims, Brit, says:
“We strive to be market leaders in our approach to claims, especially in speed of response, technical accuracy, efficiency of service and settlement. Each claim is an opportunity to support clients and brokers using our expertise to ensure fair, equitable and speedy resolution. We chose Taylored Claims Management because it is fast, efficient and cost effective and will give us an edge where it matters.”
Taylored Claims Management is a menu-based service, with modules available at all stages of the life cycle of a claim. It is designed to be completely adaptable to insurers’ specific requirements, enabling them to meet and exceed the claims processing standards required by Lloyd’s Claims Transformation Programme (CTP):
First Notification of loss services
- Claims triage
- Workflow management
- Quality Control
- Unique loss identifiers
Claims Processing Services
- Diary management
- Fraud and sanctions monitoring
- Follow claims monitoring
- Peer review
- SCM reconciliation
- Claims settlement fund
- Static claims
Claims Adjusting Services
- Claims Coordination
- Simple, high value claims management
- Expert management
- Claims commutations
- Reinsurance recoveries