How paying claims is changing
Explore how paying claims is changing for both open market and delegated authority business.
We’re transforming how claims are managed – for both open market and delegated authority business.
Today, the claims process is manual with inconsistent data and standards.
It requires re-keying of information across multiple systems that leads
to errors, delays and rework, and
is limited by sequential processing,
off system claims handling, and
a general lack of visibility of where
the claim is in the process.
A fast, transparent and collaborative claims process is critical for the market and our customers.
To do this, we’re introducing:
Support for ACORD claims
data standards that will provide consistency, and enable
automation of simple tasks.
A new Digital Processing Platform (known as ICOS for claim services) which supports automation and faster processing of claims through digital collaboration between brokers and insurers.
These technology solutions will
also unlock the ability to deliver
future innovation in the market, enabling connectivity with third party services such as loss event information,
as well as expert integration and workflow management.
And for delegated authority claims, we’re introducing:
Faster Claims Payment (FCP)
- providing fast, direct payment
of claims to customers, and
direct access to insurer funds.
The ability to view the progress
of any bordereau end-to-end
through the Delegated Authority
Claims Status Tracker.
Open market claims
View how the open market claims journey is changing at a high-level and through a more detailed lens.
Delegated authority claims
View how the delegated authority claims journey is changing at a high-level and through a more detailed lens.
Solutions
We’re delivering solutions which are transforming how we’re paying claims in the London market. Learn more about these solutions, including our progress, the benefits and where to find out more.
