Faster and more efficient claims handling has been delivered for The Standard Club members by Charles Taylor’s Management Services and InsureTech businesses working together to deliver a completely new claims management solution.
“We had been using our old claims system for the last ten years,” said Oliver Hutchings, Head of Division, Mediterranean & Middle East, who led the project. “It had proved effective, but was becoming dated and we knew we could improve our service to The Standard Club’s members with an upgrade.” None of the commercially available insurance claims handling solutions met the specialist requirements for managing P&I claims.
“We turned to Charles Taylor InsureTech to develop and implement a bespoke solution designed for The Standard Club’s exact needs,” said Oliver. In just under 12 months, Charles Taylor InsureTech designed and delivered “Acclaim”.
The system is browser based, so can be accessed by claims handlers from multiple platforms. It enables far faster access to claims files and captures and records detailed claims data, enabling advanced data analytics. It also monitors performance against regulatory requirements and time bars.
“Acclaim uses advanced workflow management capabilities, which means we can track and monitor progress on claims. It has the ability to provide us with rich data, so that we can understand exactly where the club’s members are incurring losses and the spend on third party specialists,” said Oliver. This will help club members to improve their loss records and Charles Taylor to reduce the cost of claims handling for The Standard Club.
“We are planning further enhancements to Acclaim, but already it is reducing bureaucracy, enabling us to manage claims far quicker and achieve far faster claims settlement,” concluded Oliver.