Taking control of claims
Claims may have come a long way in the last few years but many still feel there's room for improvement. On this week's Insurance Business TV we speak to Darren Trott of Claim Central for his insights into the future of the claims industry.
Video transcript below:
Anna Temple, Insurance Business Online
Anna Temple: Claims may have come a long way in the last few years, but many still feel there is room for improvement. Darren Trott, Claim Central feels that claims is still operating with outdated and too traditional model.
Darren Trott, Claims Central
Darren Trott: I think in some lines of business we’ve become as an industry much better and motor is a great example of that, which is a lot more streamlined, but I think that we currently operate certainly in the property space, in a much more traditional very labour intensive model and there is some significant improvements to be made there.
Anna Temple: Trott believes that embracing the technologies available to the industry is the answer to helping brokers that take back control.
Darren Trott: What might happen at the moment, if the policyholder wants some update on their claim, they go to their broker, their broker goes to the insurer, the insurer goes to the loss adjustor, the loss adjustor goes to the upper supplier in that chain, it can be a long winded chain. Technology allows all that to be completely transparent in real time. It means that the broker can demonstrate to the customer that they have got some control over the claims process, they can be actively involved and be able to provide the advice that customers want about their claim without simply having to refer to the insurer and hope for the best.
Anna Temple: Trott says that Claim Central is leading the charge to modernise the claims industry and that results so far has been great.
Darren Trott: Our position is to be quite disruptive in what is a very traditional part of our industry. That combination of our world class technology along with service at a local level, focusing on cost, quality and claim loss cycle is producing some really fantastic results. I think claims nirvana for me is a situation where your customer, the party that’s experienced the loss is an advocate for your business because of the way you’ve helped them get back up and running again.
Anna Temple: This is Anna Temple reporting for Insurance Business Online.