Claims handling benefits in product development

Coplus has expanded its claims handling capability to support growth in its insurance product business. James Blyth, Managing Director, discusses the benefits achieved from this recent project which brings end to end claims handling in house for motor insurance ancillary products.

Streamlining claims

James explains the first call resolution approach which was originally developed in motor FNOL and is now used across all aspects of claims operations, “It is a strategic objective at Coplus to drive first call resolution. What that means is that we seek to provide maximum assistance to the policyholder within our first contact, with the aim of resolving the claim within the shortest timeframe and without repetition of information or action by the customer.

“Our focus on first call resolution ensures we work to create efficient processes that keep the customer at the heart of the claim and translate through the entire customer claim journey, to eliminate touchpoints which are not adding value to the customer.”

Simplifying and streamlining the claims process helps to continuously improve service standards but it is beneficial for the product development and distribution division at the same time. James continues, “Ownership and control of claims handling is a distinct benefit for Coplus, enabling us to manage risk, pricing and gain valuable insights for product development and governance.

“We have operated in the add on market for a long time and carried out FNOL on all schemes ourselves, however we have the skills and systems in house to undertake the end to end process to settlement.”

Expanding in house claims handling

Earlier this year Coplus moved to full in house claims handling for the majority of its motor add on product range. James explained, “We manage a network of supply chain partners and that’s still really important for us in maintaining a breadth of service and being really flexible in how we administer our policies and service customers. However we could see advantages in bringing the whole process in house for these schemes; shorter claims cycle, lower handling costs and new opportunities for our teams.”

The products included in this project were:

• Alloy Wheel, Tyre and Windscreen
• Helmet and Helmet & Leathers
• Misfuel, MOT and Scratch & Dent

Supported by technology

Coplus has the benefit of flexibility in claims handling due to the technology which underpins the operation. “We already do a lot of claims handling in house, Replacement Vehicle Insurance for example, so we used the same principles and adapted for these new claims. Our claims management system was designed to handle any type of claim,” said James. “It makes implementations quite straightforward and all of the team understand the system and can train up quickly and easily.”

Ease of use when it comes to new schemes and training has really come to the fore in the last 18 months. The project to bring these claims fully in house was carried out in the midst of COVID-19 and lockdowns with many of the Coplus team working remotely. James continued, “We were confident we could do this despite the extra challenges brought by the pandemic. Remote training, socially distanced training and project meetings on video calls – we can do it all, and the team as always, rose the challenge.”

Product development benefits

As both insurance product manufacturer and claims handler Coplus benefits from valuable insight in a continuous feedback loop, or virtuous circle. “Our claims operation is very experienced and well supported,” added James. “We have a quality assurance team who conduct call and file audits, manage the complaints process and carry out root cause analysis. This is all fed back through the claims teams, to our claims process manager, and back to the product design team. It means we have a full and detailed picture of whether the product is delivering the benefits intended. It’s so important that we can support our partners, the brokers and insurers who are providing these products, with data insights to understand product performance.”

James continued, “Management information is more important than ever with the FCA focus on fair value. We work closely with our partners to make sure they can see what’s happening on claims and what that means.”

Coplus provides a range of ancillary products in both home, motor and legal markets working in a flexible way with its underwriting partners and supply chain network. Agile and innovative, Coplus brings a fresh approach to the insurance distribution arena. Why not get in touch for more information. We would be delighted to explain what we can do to help your business.