Here’s the word on a new industry-led pilot scheme, recently launched, designed to improve the handling of vehicle strike claims (where a vehicle hits a building), to the benefit of customers and insurers.
The pilot, involving Allianz UK, Zurich and Intact Insurance, will test the benefits of new documentation aiming to make it easier for property insurers to submit the necessary information and for motor insurers to assess claims up to a value of £15k, reducing the life cycle of claims, improving the customer journey, building trust and reducing costs.
The project was proposed by Becky Rogers, Technical Head of Property at Allianz UK, who had experienced lengthy delays and unnecessary litigation in property damage recovery claims. Becky raised the idea of a solution with DWF, who provided technical input, and FOIL agreed to facilitate the project.
The new process is the result of detailed work by the participating insurers. It follows the well-established RIPE (Reduction in Paper Exchange) agreement in Motor Accident Damage Claims which facilitates the efficient recovery of outlays between motor insurers.
The new pilot focuses on the early provision of key information to improve the assessment of issues such as indemnity and betterment disputes and increase claims handling efficiency.
Guidance published alongside the new claim forms sets out the principles for the handling of claims within the scheme, to reduce the need for on-going communications and queries.
Becky says,
“I felt from the outset that the vehicle strike process could be improved and I’m delighted we’ve been able to work together within the industry to find a better approach. There are clear benefits for consumers, with property customers able to recoup their policy excess quickly. Property insurers will be able to reclaim costs from the motor insurer promptly, enabling the financial impact to be calculated accurately when assessing the renewal cost of the property premium. Motor Insurers are likely to see a reduction in additional handling costs and lengthy and protracted quantum discussions. We also hope this will forge strong and trusting relationships across the market with the customer being at the heart of everything we do.”
Initially the process will be trialled for 12 months, to test the proof of concept. Progress will be tracked by DWF, to assist in the capture of insights and assessing outcomes.
It’s hoped the new scheme will become an established process for dealing with this type of claim across the industry, delivering measurable benefits and on-going advantages to customers and insurers.
If anyone would like more information about the initiative, please contact FOIL on info@foil.org.uk
Be the first to comment