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Pain points

Paying claims as a delegated authority

Limited tracking of claims
and reporting information 

Data sheets

First notification of loss (FNOL) 

  • A man making a claim on his laptop
    Customer makes a claim to the delegated claims administrator

    Parties cannot track the progress of claims so the customer has
no sight of when they will receive payment or if the claim is valid

  • Money being sent from one person to another
    Delegated claims administrator approves the claim and initiates the payment, if within approval limits
    Pain point not applicable to this step

Delegated claims administrator reporting 

  • Man looking at payments on laptop screen
    Delegated claims administrator adds a record of the claim payments made within the month as part of the bordereaux
    Pain point not applicable to this step
  • A man on a computer sending a document
    Delegated claims administrator sends the bordereaux for agreement
    Pain point not applicable to this step

Bordereaux processing 

Agreement 

  • A man at a desk on a computer
    A bordereaux approval transaction is created for agreement
    Pain point not applicable to this step
  • A woman at a desk on a computer with an eye, question mark, and tick icons above her
    Insurer reviews the transaction, will raise any queries, and then agrees it

    Delegated claims administrators do not have visibility of the bordereaux journey so cannot easily follow up on queries and resolve delays 

Bordereaux processing 

Digital processing and replenishment of funds 

  • A woman doing technical checks on three computers
    Technical checks are completed for accounting purposes
    Pain point not applicable to this step
  • Transfer of money between two people on computers
    Fund transaction is created, funds are replenished if required and the monies are moved accordingly

    Tracking loss funds can be inefficient which can lead to unnecessary loss funds being left open 

Reconciliation 

  • Woman looking at laptop screen
    Insurer reconciles incoming accounting transactions

    Some reconciliations take place annually which leads to a lack
of visibility throughout the year 

Pain points

View the pain points the new digital solutions are addressing for paying claims as a delegated authority. 

Man scratching his head with paper flying around

Inconsistent application of data standards

Laptop screen showing tracking and error

Delays in claims processing, payments
and movement of funds

Woman with laptop with a clock in the back

Manual intervention, complicated reconciliation processes and lack
of automation

Solutions

We’re delivering several solutions which are transforming how we’re paying claims as a delegated authority. Learn more about these solutions, including our progress, benefits and where to find out more.   

A computer with a document, a badge and a settings icon on it

Digital Processing Platform for claims (ICOS)

A digital claims processing service which can automate processes. 
A woman with a clock behind and money going towards her

Faster Claims Payment (FCP)

A funding and payment solution which provides fast
and direct payment of a claim to a customer. 

Related steps 

Journey overview

A high-level overview of the journey including associated pain points and solutions.  

Detailed steps

A detailed view of the journey, showcasing the technology that’s involved in each step. 
Previous Delays in claims processing, payments and movement of funds
Next Manual intervention, complicated reconciliation processes and lack of automation
Get adoption ready

Blueprint Two will be delivered in two phases. At phase one cutover, all market firms must adopt the new digital services.