Insurx Pty Ltd has been granted an AFSL to provide claims handling and settling services for both retail and wholesale clients.
In early February Claim Central Consolidated Pty Ltd’s Third Party Administration services provider, Insurx Pty Ltd (Insurx), submitted an application to ASIC to provide claims handling and settling services under an Australian Financial Services License (AFSL).
We are pleased to confirm that Insurx has been granted an AFSL to provide claims handling and settling services. The licenced entity is Insurx Pty Ltd ABN 85 628 930 334, AFSL 528534. Insurx is also a member of the Australian Financial Complaints Authority (AFCA).
Our property repair services provider, Claim Central Pty Ltd (ABN 61 102 685 343) and our motor repair services provider, Hello Claims Pty Ltd (ABN 15 601 752 078) are Corporate Authorised Representatives of Insurx.
We are proud to be one of the first organisations in Australia to be successful in receiving authorisation from ASIC to provide claims handling and settling services. The issuing of the AFSL by ASIC is reflective of the program of work being undertaken by the Claim Central Consolidated group to meet the industry’s new compliance obligations.
We are committed to upholding our obligations under our AFSL and to providing claims handling and settling services honestly, efficiently and fairly.
If you have any questions regarding our obligations under our AFSL please reach out to our General Counsel & Company Secretary, Freya Smith.
The appointment comes as Mr Siemsen, who established the company in 2000, takes on a newly created key role within the company after 20 years at the helm. Mr Siemsen will also continue to provide strategic input into the direction of the company as Founder and Executive Director.
Mr Siemsen said: “I have enjoyed the journey over the past 20-plus years as CEO and with Eben ready to take on the top role this gives me an excellent opportunity to work in areas of the business I love and where I can create the most value for the Group.
My new role will see me back at the coal face working strategically with key clients and partners, along with strategic oversight of our Group’s new ventures, business development and brand & marketing functions. I’m particularly keen to get more hands-on with the launch of our new technology brand, Wilbur, throughout 2021.
Eben and I have developed a strong partnership over the past 15 months and now with Eben as Group CEO, combined with my new role, we’re playing to our strengths. This structure positions us very well to take the Group into the next phase of our strategy. We’re passionate about building strong and sustainable growth into the future and to do that we need the right people in the right seats, working shoulder to shoulder to achieve our goals.”
Mr le Roux has been working with CCC for 15 months as Chief Operating Officer and Managing Director for Australia, New Zealand and Africa. Prior to joining the business, he was Group CFO of Waco International, a multinational equipment rental and industrial services business. Mr le Roux steps into the Group CEO role with a wealth of experience in the commercial and financial sectors, both locally and globally.
He has a proven track record as a senior executive and executive board member, responsible for improving profitability and ROI across different geographies, markets and products. Mr le Roux’s prior experience also includes investment banking, financial and professional services.
Mr le Roux said: “I am very grateful for the opportunity. It really is a continuation of a discussion Brian had with me some time ago about where his strengths lie and what is best for the business. For me, it’s about how we continue to work as partners, playing to each of our strengths and driving the right values and outcomes for the business with our team and our Board.
The Group has added substantial management capacity over the last 12 months to enable us to deliver faster, better, smarter services to our customers enabled by our technology division, Wilbur. We have also made good progress in building out and offering Wilbur products such as Wilbur Claims Manager, Wilbur Live and Wilbur Repair locally and in the US with substantial opportunity for further growth. I think our key clients and shareholders will feel the positive impact of Brian’s role change, I’ve never seen him more motivated to get out amongst it again”.
Claim Central Consolidated’s key shareholders, including Macquarie Capital and Envest, are confident that the new role alignment will help the business continue to expand its global footprint and revenue growth.
Mr le Roux will also transition to the Claim Central Consolidated board as a director.
The integration of Wilbur’s Claim Suite with the BAIS policy administration solution is expected to gain strong interest throughout the insurance industry. A recent pilot carried out with a major Australian underwriting agency demonstrated considerable efficiencies and benefits to underwriters, brokers and clients alike.
Wilbur’s digital claims management suite and services deliver relevant innovative solutions at the claims delivery end of the insurance value chain, ensuring consistent, customer-focused and efficient claims outcomes. BAIS has built one of the most comprehensive insurance platforms for small to medium-sized insurance companies, agencies and brokers with full policy administration, client portals and accounting capability.
The relationship between the two companies comes after they developed seamless integrations between their respective platforms to provide better data and process management solutions using a common data source.
Mark Cohen, CEO of Wilbur said “As a business, we have always maintained a keen focus on providing best-in-class services and solutions to manage insurance claims. BAIS on the other hand has historically focused on creating a rock-solid feature-set around policy administration, accounting and financial workflow. When we spent time with BAIS and learned about their capabilities, we were excited about the opportunity to jointly deliver something special. The successful integration of Wilbur Claims with the iBAIS insurance system provides a very strong proposition to the insurance industry.”
“Few solutions have given underwriters, insurers and brokers a comprehensive view of a client’s policy and claims data along with the services to manage the claims process. We’ve enjoyed working with the Wilbur team and found our strong alignment of values helped lead to the rapid development of this exciting new solution. I am confident the alliance will result in one of the most powerful and comprehensive solutions available to the insurance industry anywhere in the world.” added David Hampton, CEO of BAIS.
The joint insurance technology solution will be spearheaded by Wilbur’s Head of Distribution Partners, Greg Johnson, and David Hampton, CEO of BAIS.
Existing clients of both companies will shortly be able to test how the combined solutions can benefit their insurance operations and the level of service it provides to customers.
Wilbur sponsored the recent Insurance Business TechFest 2021 conference, our first official event and soft launch of the brand, held at the Fullerton Hotel in Sydney. The team showcased Wilbur’s Claim Suite offering at our exhibitor booth, including Wilbur Claims Manager, Wilbur Connect, Wilbur Live, Wilbur Repair and Wilbur Inspect.
Wilbur’s CEO Mark Cohen presented a thought leadership case study during the ClaimsTech stream of the conference on “Improving claims processing efficiency and the user experience”.
To listen to the entire presentation
There’s more coming soon. Keep an eye out for us as we continue our launch throughout 2021.
Parts of Australia’s East Coast have seen almost one metre of rain, resulting in the flooding of hundreds of homes and damaging and cutting off roads. The floods have resulted in over 30,000 insurance claims and caused almost 30,000 people to evacuate their homes at the time of the disaster.
Claim Central has activated its catastrophe (CAT) response plan following the East Coast floods. We are well prepared to, and have already been, assisting the recovery of the damage caused by recent storm activity over Australia’s East Coast especially in the areas of Port Macquarie, Kempsey and Coffs Harbour.
Claim Central are ready and able to assist with any flood or storm impacted properties. Our team of frontline staff, property assessors, make safe trades, repair trades, restorers, and engineers have been deployed to the affected areas to attend to customers’ properties.
We have deployed additional resources in the most impacted areas to assist with the volume of claims, including our assessors from across the country. They are equipped with required technologies to ensure all information is captured immediately as we aim to bring normality back to people’s lives.
We hope that everyone affected is safe from the recent weather events in NSW.
As always, our emergency assistance team is also available 24/7 if there are any urgent requests.
If you require assistance, please contact us on 1300 743 673