Claims Leakage Control. Unique, Detailed and Independent. “In a competitive insurance market, controlling claims costs is vital.”. Traditional in-house audits may not be the answer. Do you measure claims leakage? . If so, is the process independent?. What is Claims Leakage?.
Unique, Detailed and Independent
Reduce claims spend - every claim dollar saved = $1 profit
What profit improvements can you make from reduced claims leakage levels?
Scope: Large Personal Lines insurer requested review of Motor and Home claims Australia wide
Results: Able to identify leakage percentage by state office in both motor and home portfolios ranging from under 1% to over 9%
Action: The implementation of just one of CMC’s recommendations to change motor damage assessing methods in one state resulted in saving of over $1.7M in the first twelve months
This saving represented a significant reduction to the average motor vehicle claims cost
Real results – Real savings
Mark Rayner. Mobile:+61 403 434 204 Office: +61 2 9874 2727