Proclaim commenced managing claims for a large property trust in 2002. At the time, an insurer was managing their claims and they had little control over their risk or their exposure.
The average cost of claims over $1 was over $15,000 that was in line with industry standards at the time but well outside our KPIs. The Trust had no control over their risk; their shopping centre staff had no idea what to do in the event of an incident; and after any incident Trust staff would just handball to the insurer, where it would get lost in a reactive process.
We worked with the Trust to improve risk management, incident response and the claim management culture. Designing claims forms was just the tip of the iceberg – we worked with the Trust to change their model to one of early intervention where the centre staff cared about the claimants and weren’t afraid to say sorry.
We also worked in tandem with them and their brokers at renewal in providing presentations to insurers on advances in their risk program.
10 years later and we have managed over 2000 incidents and nearly 400 claims.
Importantly – our client now feels in control of their risk.
Our experience is that our liability claims model can cut your average cost of claims by 40% or more - before you add the benefits from less time spent on claims and the protection to your brand from better claim management.
The graph above is an example of a claim portfolio (blue and red bars) managed externally benchmarked against our results (green and purple) for substantially similar risks. The difference in this case through the Proclaim model is 40%cost savings.