TV

Paul Lucas  00:00:08 

Hello everyone. Welcome to Insurance Business TV as we celebrate one of our 5-Star Claims Providers, it's often said that insurance isn't worth the paper it's written on until claims time, that is when you find out just how good a provider is. Well, according to brokers surveyed across the nation, one company that is delivering on claim service is arch insurance. Today, we're joined by Barbara Rizzi, Chief Claims Officer, to discuss how claim service can work successfully. Barbara, welcome to Insurance Business TV. 

Barbara Rizzi  00:00:38 

Hi Paul. I'm happy to be here.  

Paul Lucas  00:00:40 

So Barbara, congratulations again to you and Arch on being named a 5-Star Claims Provider. What do you think makes the Arch service stand out? 

Barbara Rizzi  00:00:49 

Thank you, Paul. I mean, we're incredibly proud of this recognition. And what makes us stand out? I think we have a five pillar approach to claim service, which forms the foundation of our service delivery. So first is expertise, which is demonstrated through our dedicated claims team, who bring deep industry knowledge and experience to every case. They're empowered to act within autonomy, decisively and commercially, within their authorities. The second pillar is relationships. We believe in fostering genuine long term relationships with our partners, with our brokers. And this isn't just about processing claims, but it's about understanding their needs and working collaboratively to find solutions. The third pillar is speed. We've made significant changes to our claims life cycle process in the past 18 months, understanding that swift resolution is crucial for our clients. So through our innovative swift claims team in the regions, we've reduced processing times from 170 to just 36 days average for low value property claims. The fourth pillar focuses on customer orientation, and by that, I mean we take great pride in our pragmatic, empathetic approach that considers each client's unique circumstances. And this is, again, not about following a rigid process, but adapting our service to meet specific needs. And finally, but crucially, underpinning all of this is communication. So we maintain a proactive, transparent dialog throughout the claims journey, ensuring that all stakeholders are informed and confident in our handling of their claims. So we look to have a specific claim standard for each claim, providing that consistency. So that's what I think. It makes our service stand out.  

Paul Lucas  00:02:36 

Yeah, obviously those five pillars firmly in place, and it's interesting to see what brokers said in our survey as well, because they ranked expertise, transparency and client service, as well as the handling of the adjustment process, among the top rated factors for a best in class claimed process. So tell us specifically what Arch is doing to improve within those areas. 

Barbara Rizzi  00:02:58 

So yes, we made significant strides in all these crucial areas. So on the expertise front, we've assembled, as I mentioned before, a team of industry experienced subject matter experts across diverse business lines, and we continue to invest in their professional development. On the transparency and client service side, we have appointed a dedicated claims relationship manager, to enhance broker client communication, a handling of the adjustment process as we transformed through our Swiss claims team, which I mentioned before, which again, has set new industry standards for efficiency. And finally, we've streamlined our procedures. We've implemented new technology for faster claims assessment and provided dedicated resources for quick claim resolutions. And what's particularly exciting is that our achievement of is our achievement of 99% of new claims being set up within just four working hours, and our guarantee of claims payment within one working day of settlement agreement. So these, these, what we're trying to do to improve in these three areas? 

Paul Lucas  00:04:03 

Yeah, that's clearly a fantastic achievement, but it'd be great if you would to give us an example of this claim service in action. Can you do that? 

Barbara Rizzi  00:04:10 

Sure, a perfect example of a claim service excellence in action was our handling of a significant pub incident in 2020 22 so this establishment was completely destroyed by fire, and our response was comprehensive and immediate. So we've activated our out of our service and quickly deployed our major loss team to assess the damage and throughout the recovery process, we maintained constant communication with all stakeholders and provided unwavering support during the rebuilding phase. So the end result was that the pub was successfully reopened a year later, but not just reopened, but it was reopened with announced facility, and has since achieved record breaking customer bookings. So this case perfectly demonstrates that our commitment not just to handle claims efficiently, but also ensure that there is. Business continuity and client satisfaction. And there are many other examples, but this was a particular one we were proud of, because it's such a standout case. 

Paul Lucas  00:05:10 

Yeah, clearly a fantastic achievement. And I'm sure you're very proud of the team that you work with Barbara as well. So tell us about how important the culture is within your organization. Oh, yes. 

Barbara Rizzi  00:05:20 

I mean, cultural for us is absolutely fundamental to our success. We've created an environment where diverse perspective fuel innovation, and this has been key to our remarkable growth since 2019 particularly in the regions. So in 2021 we launched the arch experience, and we implemented 14 specific behaviors that have transformed ourselves, delivery leading to our recognition as broker Partner of the Year and becoming the only insurer to receive a five star rating for overall broker experience for two years running. And a leadership team across both arch International and the UK regional team demonstrate remarkable stability, with the majority being at large and for a significant amount of time. And so this continuity, combined with our commitment to diversity and inclusion, which is also being recognized by consecutive five star DNI awards, creates an environment where every employee can thrive and excel. 

Paul Lucas  00:06:19 

Of course, this award celebrated your achievements in 2024 but 2025 is on the horizon. So tell us about any future plans or initiatives that arch is working on, specifically, of course, related to its claims, offering? 

Barbara Rizzi  00:06:31 

Sure we are incredibly excited about our future and our future initiatives. So one key focus will be the expansion of our successful sweet, clean Siemen that I mentioned before, and they will be handling increased claims volumes while broadening our service scope. And we're also implementing new broker mi reporting systems to enhance transparency and again, meet conduct requirements. And on the technology front, we are developing AI based automation for real time cleans, identification and allocation so And finally, we are systematically seeking client and broker feedback, creating a continuous improvement loop in our service delivery. So all these initiatives really reflect our commitment to staying ahead of market demands while maintaining high standards of claims handling. So it's all part of our pursuing better together promise and we continue hopefully to raise the bar in claims excellence. Yeah, clearly, 

Paul Lucas  00:07:26 

Great plans in the works. Barbara, huge thanks for your time. And many congratulations again to Arch Insurance on its 5-Star Claims accolade. And furthermore, 5-Star interviews. Well, keep it right here. And Insurance Business TV.