Claims Management - Proclaim Management Solutions
Proclaim is a classic entrepreneurial story. A company started by one person with a vision to build something great.
In 1998 Jon Broome attended a Third Party Administration course in America, run by his then employer, Chubb. On returning to Australia, Jon noticed a couple of things. First, there were no independent TPAs providing claims management services in Australia. The ones that were here had grown out of brokers or loss adjusting disciplines, and suffered for that. At the same time, Jon was of the view that claims management services in the local market were not of a sufficiently high standard, and companies, local underwriting agents and offshore insurers suffered for lack of a quality choice of Claim Manager.
So out of that background, an idea was born that took almost 12 months of business planning and included several frustrating attempts to find backing. One investor after another rejected the plan – too small, too ambitious, no track record. Finally, with pared back plan and a skinnier cost base, Jon found a source of support so the business could at least have 18 months to get going and Proclaim was born on May 24, 1999.
Our first office was within an insurance brokers office – Bradstock GIS - a kind gesture of support from Gary Seymour and Peter McCarthy. The internet connection was in the IT closet and Jon spent much of his time developing the business model and refining the systems in that closet. We attacked the liability claims management space first, looking for under deductible claim management opportunities. Our first client was Spotlight Stores, who still remain a client after 12 years and are dear to our heart.
For our first 3 years we focused on liability and professional liability claims management, where we felt that sharp people at the desk and good systems could create some real value. This proved to be on the money, as we demonstrated that a better process and our assistance could cut claim costs by 50% or more. It was also clearly apparent that a better claim management process controlled costs and this kept premiums lower – so the value proposition came sharply into focus.
As we have grown we have been incredibly fortunate to have had the support and backing of many large companies who would usually play it safe and choose the big guy. For their support, we hope we can repay the debt with outstanding service in return. We have also been incredibly fortunate to attract support from the world’s biggest insurance market, Lloyd’s of London, who judge us on claim management process and people and not the size of our Balance Sheet. We feel we know and understand the London insurance market and combined with our local expertise are well positioned to assist their local coverholders and clients in Australasia to get the best possible results.
Over the course of 10 years we have had many challenges. It is very difficult being an independent claim manager in a market where distribution is dominated by the brokers. It just means we have to work harder. It is difficult working in an industry that lacks true metrics to measure success, so what we think are fantastic results sometimes don’t create a ripple with the big insurers. So we have to work smarter, and create our own metrics, and hope the rest of the market buys in. We also suffer from being judged harshly by some local insurers, who see us as competition rather than potential partners. We are working hard to change that view as we are of the strong conviction that we can help insurers in Australasia better manage their claims.
We have now been in business over 12 years, a landmark that only 4% of companies achieve. We are providing insurance claims solutions across liability, property , motor and accident classes. We have a great group of people working for us, consistently going beyond for our clients, and we have a passion to expand our involvement to assist more companies in Australasia and beyond.
Overall, we have tried to create something a little different. Quirky, creative and a little rock’n’roll. Open plan offices, funky and edgy artwork, smart technology, enthusiastic and clever people. We want to serve our customers well, and build their trust. You can rely on us. And, hopefully, have some fun along the way.