Making Claims management effective and profitable Danijela Ziser
Making Claims management effective and profitable Danijela Ziser, Swiss Re, Claims Forum 2014
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Source: customerservice. ae Danijela Ziser, Swiss Re | AIIF 2014 3
Source: conversiondoktor. de Danijela Ziser, Swiss Re | AIIF 2014 4
How to be different? • Run Claims like a business • Automation • Having the right people Source: pivotalsafety. ca Danijela Ziser, Swiss Re | AIIF 2014 5
http: //www. allaboutfitnesskc. com/services/our-service/ More than prompt claims payment… …provide a variety of unique, value-added services and expertise Danijela Ziser, Swiss Re | AIIF 2014 6
Run claims like a business: Foster an entrepreneurial spirit & create impact USD mio FOCUS Adjudication Shareholder Technical Expertise & Focus Liability Management Retrospective Solutions Stakeholder Customer’ Focus External Services Clients Income/ value-add Operational Efficiency Operating Cost Simplification/ Discipline Legal spend Investment Net Result = Impact There are different levers to pull at different times Danijela Ziser, Swiss Re | AIIF 2014 7
Automation Claims being processed in the "old" way Paper / E-mail Closings - Incomplete documents - Non standard formats - No ackowledgement of receipt required Manual Statements -Time consuming spreadsheet process - Lengthy agreement timecycle - Large query volumes Delayed Payments - Inconsistent due dates - Timeline driven by reconciliation - No agreement of items payable Danijela Ziser, Swiss Re | AIIF 2014 8
Automation Claims being processed automatically Transaction validation - Tech account (TA) message sent early, as soon as the broker books the item - Standard data format - Complete/accurate dataset Electronic Reconciliation - Real time agreement - Technical/payment transaction linked - Team can focus on queried/ unpaid items. - Early query resolution Faster Cashflow - Items paid 15 working days earlier - No backlogs - can focus on key items - Financial account (FA) sent as soon as payable Danijela Ziser, Swiss Re | AIIF 2014 9
Automation Benefits exist for all stakeholders (Re)Insurer (Re)Insured (Re)Insurer What is a (re)insured looking for? What is a broker looking for? What is a (re)insurer looking for? q q q q Increased control and transparency Single platform access to all markets Increased speed and efficiency Improved cash flow Immediate, secure and evidenced delivery of data Reduced risk q Improved cash flow Processing cost reduction Enhanced client servicing Ability to focus on value added activities Direct straight-through processing into any market from worldwide locations q q Processing cost reduction Enhanced cedent servicing Consistent, high quality and properly referenced data feed Access to current data and documentation Reduced exposure to dormancy Danijela Ziser, Swiss Re | AIIF 2014 10
The right skills- the right staff? The Spider Web Danijela Ziser, Swiss Re | AIIF 2014 11
Source: sharonshares. ca Danijela Ziser, Swiss Re | AIIF 2014 12
ricardo. ch Danijela Ziser, Swiss Re | AIIF 2014 13
Swiss Re Contact Danijela Ziser Claims Expert Tel: +49 89 3844 1228 danijela_ziser@swissre. com Danijela Ziser, Swiss Re | AIIF 2014
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Legal notice © 2014 Swiss Re. All rights reserved. You are not permitted to create any modifications or derivative works of this presentation or to use it for commercial or other public purposes without the prior written permission of Swiss Re. The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the details given. All liability for the accuracy and completeness thereof or for any damage or loss resulting from the use of the information contained in this presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group companies be liable for any financial or consequential loss relating to this presentation. Danijela Ziser, Swiss Re | AIIF 2014 16
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