Claims Management

Having enjoyed many years working with corporate insurers, Lloyd's syndicates, brokers and intermediaries, we have proven knowledge and expertise in our sector.

We offer both claimant and defendant professional services from ground up attritional claims, through to high value and complex large loss including litigation.

Using the latest insurtech, our innovative claims management solutions enable us to provide a full spectrum of efficient and effective claims management services that consistently deliver high quality customer journey mapping as well as protecting your claims portfolio.

Whatever your requirements are, we can work with you to create a tailored and bespoke claims service that aligns with and compliments your own brand values and culture. 

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Our creative solutions are driven by a relentless focus on customer journey excellence, aimed at both our clients and their customers.

Please see below our claims management proposition and professional services.

Here is something to think about .... 

Many claims organisations have excellent technical expertise but often face a variety of challenges in their daily handling. These issues are caused by legacy IT systems, convoluted claims processes and with a clear lack of vision and responsibilities within their roles. This is why new start-ups often come in and disrupt the market.

With ease of deploying insure-tech and digital platforms, new start-ups move quickly, but more often than not they lack the business acumen and overall insurance expertise needed to set-up a well structured claims enterprise.

The topic of insource Vs outsource solutions will always be a question for insurers, MGAs, brokers and self insured organisations to name but a few.

Many companies choose to outsource their claims handling requirements from the outset. Many choose to insource and then when volume becomes challenging, outsourcing claims often becomes a necessary option. 

We have knowledge of some MGAs who have insourced their claims operation from the outset, resulting in confidence and reassurance of claims services delivery and fulfilment with the added benefit of embedding their brand values within their services.

Woop Motor claims malmanagement service and solutions

When it comes to insourcing versus outsourcing, we have always been supportive of both options depending on your strategic and tactical need.

What we do know however, is that when you outsource your claims, you pay for the service when a claim is initiated. When insourcing, you pay for a claim whether it's initiated or not, which for us, is just one key financial element to think about when making this important decision.

The term claims handling is often misunderstood because of the different elements to consider when making these key decisions. So below are a few questions to think about.

Questions to Consider

Do you wish to insource your complete claims handling service?

Do you wish to outsource your complete claims handling service?

Do you wish to outsource just a particular element of your claims handling service?

If you choose to outsource just parts of your service, what areas and processes are these?  We list below some considerations

  • FNOL (First notification of loss)
  • Repair networks
  • Engineering / loss adjusting (desk-top / field)
  • Uninsured Loss Recovery (ULR)  and Insurer Loss Recovery (ILR) claims
  • Defendant claims

The most common and popular outsource requirements are FNOL, repair networks and engineering / loss adjusting but whatever your requirements are, we’re here to help you and can even recommend service provisions that are best aligned to your underwriting and brand values. Other key areas to consider are Delegated Authority and its VAT implications, high value, catastrophic claims and litigation process. If it's just general advice you require, a meeting or a more indepth review of your claims handling requirements. Please reach out at info@woophub.co.uk

 

 

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