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Pain points

Paying claims as a delegated authority

Delays in claims processing, payments
and movement of funds 

Laptop screen showing tracking and error

First notification of loss (FNOL) 

  • A man making a claim on his laptop
    Customer makes a claim to the delegated claims administrator
    Pain point not applicable to this step
  • Money being sent from one person to another
    Delegated claims administrator approves the claim and initiates the payment, if within approval limits

    Insufficient funds under the delegated claims administrator’s control can result in payment delays to the customer (up to 45 days) 

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

    Where lots of claims are made in a particular month, loss funds
can run out before bordereaux are shared and reconciled 

  • 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
    Pain point not applicable to this step

Bordereaux processing 

Digital processing and replenishment of funds 

  • A woman doing technical checks on three computers
    Technical checks are completed for accounting purposes

    Checks occur late in the process and can often result in queries that delay fund movement / loss fund top up 

  • Transfer of money between two people on computers
    Fund transaction is created, funds are replenished if required and the monies are moved accordingly
    Pain point not applicable to this step

Reconciliation 

  • Woman looking at laptop screen
    Insurer reconciles incoming accounting transactions
    Pain point not applicable to this step

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

Data sheets

Limited tracking of claims and reporting information

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 Inconsistent application of data standards
Next Limited tracking of claims and reporting information
Get adoption ready

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