Claim Central Property division 12 months achievements
The past 12 months have been a challenging time for everyone, which has forced Claim Central to adapt and innovate in new climates that were ultimately affected by COVID-19. In November 2019 Martin Maguire was promoted to Head of Claim Central Property Australia & New Zealand. Martin bringing in his passion for continuous improvement, skill in business strategy planning and project delivery, has improved Claim Central’s operating process considerably.
Some of Claim Central’s biggest achievements in the past 12 months
Average claims costs was an industry wide challenge due to the early 2020 CAT events and the uncontrollable nature of Water/Escape of Liquid perils. Through Martin’s strategy Claim Central have managed to reduce our average claims cost by 17% by re-engineering the entire claims process focusing on the synergy and alignment between Assessing and Restoration to control costs.
Lifecycle is a key factor when it comes to client and customer satisfaction and claims costs. Claim Central recognised the opportunity to optimise and gain efficiency to reduce claim lifecycle by more than 30% . Unlocking new data insights, utilisation of customer self-service technology, optimal processes, and people engagement, Claim Central has reduced its overall claim lifecycle by 38% in the past 12 months, while having a 16% reduction between October and April alone.
CAT events are defining and unavoidable occurrences in our industry and the capability to respond to these promptly with quality is essential. Claim Central took on learnings from previous CAT events in late 2019 and early 2020 and adapted these for our CAT204 response. This enabled us to get to the focal point of the damaged areas and carry out numerous assessments with speed and care. By deploying our assessors from interstate to South-East Queensland we were able to submit half of all assessments in under 10 days of attendance and 90% of all assessments in under 20 days. This allowed us to commence repairs in under 30 days on 80% of all CAT204 claims.
What does this mean for our clients?
Through our achievements in 2020 and 2021, our clients have responded with positivity, recognition and increased business due to 12 months of consistent performance. What is really exciting is the next round of continuous improvement projects in the pipeline that all our clients and customers will see the benefit of in 2021 & 2022.
How we build trust with our client
We constantly and proactively update customers at every stage of the claim and provide a point of contact for each step. We set clear expectations with customers at the very beginning of the claim and manage those expectations successfully through to final QA. As a result of these initiatives, we have seen an improvement to 9.56/10 for our customer service rating score.
What else is in the pipeline?
With our assessing, repair, and restoration strategies at only 50-60% complete, there is more improvement to come. We are starting to see the positive impact of our new technology that allows us to submit from site. With claims under $15,000 being 65% of our business, our goal is to submit 80% of those $15,000 claims directly from site. Which results in shorter lifecycles and happy customers to see their claim is moving.
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