QBE overhauls traditional claims model using data-driven solution

Re/insurer QBE has created a new data-driven solution to transform its legacy property claims process by automating non-complex claims, improving and speeding up the recovery process.

QBE said its property decisioning tool has completed its pilot testing and is ready to be launched in market.

It aims to improve the customer experience by quickly determining the likely complexity of a claim, the repairs need, and engaging the correct supplier to begin actioning the recovery.

The re/insurer claims the tool will change recovery from 85 percent reliance on national builders to focusing on local and regional builders for both commercial and residential work.

QBE also announced that it has entered into a new loss adjusting partnership with Sedgwick. The partnership model will focus on them being the primary partner on all types of property claims, with QBE contracting five other loss adjuster firms to maintain geographic capability and coverage.

"QBE is seeking to simplify internal claims processes to make it easier for customers and partners to deal with the insurer," said chief claims officer Jon Fox. “Our Property Decisioning Tool has enabled us to challenge the traditional claims model by automating non-complex claims, improving and speeding up the recovery process. This is another great example of how data-driven solutions can benefit the insurance industry and help bring customer experiences in line with current expectations.

“We know that today’s customer is seeking quality of service and speed of service – and both at the same time. Through our evolving in-house data and analytic capabilities, and exploring new industry partnerships to enhance this, we can ensure we are delivering on these customer expectations.”

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