A new way of doing business
Combining the best of the loss adjusting model with the best of the building panel
overview WHO IS CLAIM360? Claim360 is a joint venture company formed by Cerno and Claim Central Holdings. We have combined the best of the Loss Adjusting model with the best of the Building panel, to offer an end-to-end claims service and cost control never before seen in the insurance industry. The new game-changing hybrid model takes advantage of the independence, transparency and specialist insurance claims handling skills of Loss Adjusters, along with the estimating, cost control and trade & supplier management of Builders providing insurers with unparalleled levels of cost control, analysis and flexibility in claims handling. The new hybrid model is neither a traditional Loss Adjusting model, nor a Builders model it is a game changer in the industry and was formed as a result of constant feedback from insurers requiring both building and assessing skills in one package. Clients no longer need to choose between direct supply and independent claims specialists Claim360 provides a third option. It acts as a building panel manager for some clients, a builders model for others, and a hybrid for some. The model has total flexibility as to how the interaction of the Adjusters and Builders occurs - in effect improving on all other offerings in the market. The hybrid solution of Claim360 saves clients time and money whilst maintaining the independence of the adjusting model. In essence, Adjusters and Estimators work alongside each other to enable collaboration and total transparency of cost control, claim lifecycle, quality and customer satisfaction - all of which can be measured and managed at every step of the claim process. OUR INDUSTRY LEADING TECHNOLOGY Claim360 is underpinned by Claim Central Holding s multi-award winning claims management technology an end-to-end platform that provides total claim handling and supply chain management transparency, reporting, cost control and analysis for insurers and brokers. It is the first platform of its kind and unmatched in the insurance industry. Through its technology platform, Claim360 also controls the procurement, retention and scorecarding of trades to ensure the best results in terms of cost control, quality and service. The model relies on competitive tendering at a trade level and although Claim Central Holdings builders can participate in the tender process, there is no bias towards them whatsoever. Additionally, the technology allows the company to manage the entire supply chain from start to finish, including contents, supplies and trades. 1
About Cerno Cerno is the only large scale Australian owned claims, loss and risk provider with over 50 branches and nearly 450 people across metro, regional and rural Australia. Cerno investigate, assess, adjust and resolve insurance claims as well as carrying out risk surveys and sum insured reviews for insurers, brokers and self insureds. The company s suite of services is second to none, ranging from motor and property, to liability and investigation, marine, agriculture, building services, risk management and survey, to major engineering and property losses with advanced business interruption implications. Cerno were recognised at the 2011 ANZIIF Australian Insurance Awards as the winner of both Claims Service Provider of the Year and Innovation of the Year categories - the first dual winner in the history of the awards. About Claim Central Holdings Claim Central Holdings is an Australian-owned insurance and claims management specialist whose service divisions include the Siemsen Group, Siemsen Restoration and Intelligent Thought - a technology consultancy that develops world-leading online applications & systems. The Siemsen Group is a leading provider of catastrophe management, construction and total supply chain services to the insurance industry. Founded in 2002, the company is located in many rural, regional and metropolitan areas of Australia, offering the largest geographical presence in the industry. The Siemsen Group has managed 21 catastrophe events in the past four years, including Cyclone Yasi and the Queensland and Victorian Floods of 2011. Claim Central Holdings uses its industry leading, multi-award winning catastrophe claims management technology to ensure the best results in the five main KPI s of cost control and analysis, claim lifecycle reduction, quality of repairs, customer care and client management. The technology also delivers unprecedented control over trade procurement, management and scorecarding. The platform is a multiple award winner both in Australia and internationally. Claim360 is a joint venture company formed by Cerno and Claim Central Holdings, combining the best of the Loss Adjusting model with the best of the Building panel. 3
why IS CLAIM360 A GAME CHANGER? We have taken the best of all available models to bring together specialist Insurance and Building knowledge, underpinned by industry-leading procurement and collaboration technology. The result is an allencompassing, flexible, transparent and tailorable model which reduces claims cost and lifecycles, resulting in happier claims staff, intermediaries and ultimately customers. COMBINING THE BEST OF THE LOSS ADJUSTING AND BUILDING MODELS The fusion of two industry recognised leaders to deliver a new hybrid service model which combines the independence, transparency and specialist insurance claims handling skills of Loss Adjusters, along with the estimating, cost control and trade & supplier management of Builders providing clients with a level of cost control, analysis and flexibility in claims handling not yet seen in the industry. No other model offers the same EVA outcomes on the five key market drivers. PROVEN, INDUSTRY LEADING CLAIMS MANAGEMENT TECHNOLOGY SOLUTION A proven, industry leading, multi-award winning technology platform which provides total claim handling and supply chain management transparency, reporting, analytics and analysis for insurers and broker clients. TOTAL FLEXIBILITY AND EASE FOR CLIENTS Claim360 can tailor the service to clients requirements irrespective of their preference for model. The service also offers rapid scalability at any time, especially during CAT events. One attendance by one person and repairs can commence in as little as 48 hours. We can use clients preferred suppliers or our panel of builders. INDEPENDENCE & TRANSPARENCY IN CLAIM HANDLING There are a range of mechanisms in the hybrid model to ensure impartiality such as agreed margins, system transparency, separation of the procurement & building functions, competitive tendering and more. COMPLETE SUPPLY CHAIN MANAGEMENT Ability to manage a national trade partner and builder community via our award-winning supply chain management platform. 4
OTHER BENEFITS TO CLIENTS Cost Control Industry leading building and property assessments and claims handling cost (spend measurement and management across the assessing expenses and indemnity spend). Claim Lifecycle Reduction 37% reduction in property repair lifecycles from the point of approval for $0-$25k. Communication (Client and Customer Service) Through our technology platform, we have the ability to keep insurers, brokers and policyholders up to date on the progress of their claims via web, SMS or phone in real time. Quality Quality is ensured through a structured QA program and scorecarding of all repair work. Accurate SOW Every property assessment report is provided with full scope of works and accurate costing. Catastrophe Management Catastrophe management technology solutions and preparedness methodologies (P.R.E.P. Solutions). National Coverage Our services cover all states and territories of Australia. Contents Procurement We will have a full contents procurement solution in the coming moths. No other model offers the same Economic Value Add (EVA) outcomes on the five key market drivers of cost control, quality of work, lifecycle reduction, customer care and client management. 5
our clients can choose between... loss adjusting model mixed and internal models building panel model Independence, transparency and specialist insurance claims handling skills. Clients select the mix of direct supply and adjuster input - a continuum from 100% direct supply to 100% traditional adjusting, and all points in between. Our model creates a spectrum of claim handling scenarios which ensures the right skills are used in the right proportion on every claim. Estimating, cost control and trade & supplier management.
addressing different models in the insurance market Claim360 is completely flexible and offers products to address the drivers of different models in the insurance market. 1. PRO DIRECT SUPPLY (BUILDING PANEL MODEL) We can be a direct supply model for building and contents, ie for clients who do not want Adjusters involved. 2. PRO ADJUSTER (LOSS ADJUSTING MODEL) We can act as a supplier panel manager for Adjusters to ensure quality and cost control, and in time a total procurement solution. 3. MIXED MODEL Pro Direct Supply in some instances and Pro Adjuster in others: Clients no longer need to choose between direct supply and independent claims specialists We offer the best of both models - the independence and specialist claims knowledge of an Adjuster, with the building and cost control benefits of a Builder and specialist panel manager Our unique model ensures flexibility by tailoring our services to meet clients requirements at extremely short notice, especially during catastrophe events. 4. INTERNAL MODEL We can mirror clients internal teams processes while being rapidly scalable, cost effective and transparent: Inspect and report only (assessing function only) Panel manager for internal assessors (cost control) Catastrophe and capacity management outsource 7
OUR FLEXIBLE SERVICES SOLUTION Claim360 brings together the specialist insurance skills of an Adjuster and the specialist building and cost control skills of a Builder. The combination of skills creates a spectrum of claim handling scenarios which ensures the right skills are used in the right proportion on every claim. Below are some examples to demonstrate the flexibility of Claim360: Estimator attends site - Where a loss is predominantly building related and has minimal content or other non building components, a building Estimator may attend site. Desktop Adjusters then provide the insurance and contents skills from the office. Adjuster attends site - Where a loss is predominantly contents related, or has more complex insurance implications and minimal building damage, an Adjuster may attend site. Estimators then overlay the building and costing controls either directly from the office or by utilising a panel of pre-selected trade partners to provide tenders for the repair work. Both Adjuster and Estimator attend site - For larger losses, it may be beneficial for both an Adjuster and an Estimator to attend site. Repairs can then either be carried out on a direct supply basis or we can act as an independent building panel manager to introduce competitive tension across the repair network. At the same time, non building components of the claim are addressed in parallel by the Adjuster, ensuring a timely and cost effective outcome for all parties. Desktop service - In some situations, a site attendance may add little value to the claim process. Claim360 provides a desktop solution involving the verification and control of building claims as well as policy knowledge and contents replacement skills. Each of the above can be customised by value threshold, complexity, building and non building mix, fraud indicators or other specified criteria. In every case, building repairs can be carried out directly by trade partners or by way of electronic competitive tendering at both builder and trade levels. Major and Complex Losses In the specialist areas of major and complex losses, Claim360 can provide internal building panel management services to specialist Adjusters which can be augmented with building consulting and engineering skills. This provides a complete line of sight from the specialist Adjuster and Building Consultant/Engineer, through to the Builder and ending with the individual Trade Partners. Every aspect of the building process is transparent from end to end. The total flexibility and transparency of Claim360 provides a continuous spectrum of services from direct supply to traditional loss adjusting, all on the one industry leading IT and procurement platform. Claim360 not only achieves measurable improvement in claims processing and outcomes, it also makes life so much easier for all involved. 8
National Catastrophe Management Using our P.R.E.P. (Prior Response Emergency Planning) systems we have been successful in developing preparedness strategies and systems for key clients to mitigate the impact of major events and catastrophes. We have developed and implemented surge management technologies that accurately measure each phase of a catastrophe and provide early claims performance indicator alerts when key measures or business rules have not been met. Claim360 provides forecasted capacity planning on trade, supply, estimating, assessing, consultant and CAT project management prior to an event occurring to ensure our clients are well prepared. National Property, Building & Contents Claim Management Fast track catastrophe & BAU assessing model for claims under $25,000. Building consultant on all large loss claims. Access to major loss expertise across all lines of business including commercial and business interruption. Access to additional engineering consultancy services. Complex claim assessment and management. Claim360 delivers live CAT event reporting around the key client business drivers of cost, quality, customer care, claim lifecycle and client management. Access to national and international resource capacity if required. 9
why us - compare our unique offering Claim360 is underpinned by Claim Central Holding s multi-award winning claims management technology an end-to-end platform that provides total claim handling and supply chain management transparency, reporting, cost control and analysis for insurers and brokers. It is the first platform of its kind and unmatched in the insurance industry. The technology ensures we can do what others in the industry cannot match: Provide our clients claim staff with their own interactive Claim Management Application to view, monitor, communicate and report on how their policyholders claims are being managed Provide policyholders with their own unique Claim Tracker Application where they can log in and view the progress and next steps of their claim in real time Provide total supply chain management & optimisation solutions using our Suppliers Wanted, Builders Wanted, Trades Wanted and Products Wanted technology platforms Provide live performance scorecard summaries across the complete claim cycle including contents, property, commercial and assessing Provide real time claim performance business intelligence dashboard Provide automated communication to all key stakeholders in a claim via SMS and email Performance manage national supply and trade networks using purpose built trade partner repair management technologies, to improve quality and service Total independence and transparency in the claims handling process due to strict scorecarding and performance measurement analytics Four levels of downward pressure on cost before repairs commence 10
Our world-first claim management processes and technology add real business value to our clients.
our claims management technology Overview Claim360 is underpinned by Claim Central Holding s multi-award winning, industry leading technology platform. The platform is Australia s first intelligent, automated building repair management system purposebuilt for the insurance industry. It reduces claims lifecycles by up to 37% on industry standards. The platform streamlines and automates each step in the claims process and provides insurers, customers and trade partners with real time and accurate information about the status of a claim. The system includes separate modules for each stakeholder in a claim, so that all parties can track the job progress at any time while Claim360 books, manages and completes the job. It also guarantees a consistent national service delivery across all regions, plus downward pressure on costs, thanks to its complete supply chain management solution. The platform also controls the procurement, retention and scorecarding of trades to ensure the best results in terms of cost control, quality and service. FEATURES With the help of Claim Central Holdings innovative technology platform, Claim360 offers: Guaranteed 60 second customer contact Automated SMS and email claim status update to client, trade partner and customer Smart virtual estimator booking system Reports and estimates submitted from site Automated emergency secures and specialist reporting arranged from site Automated smart repair scheduling on every claim Virtual and visual mapping of claims in progress and status alerts Smart trade network management system Automated client progress reporting Intelligent client analytical and performance data capture Automated contractor scorecarding benefits Reduction in claims lifecycles by up to 37% due to automated systems and procedures Lower average claim costs through increased efficiencies and automation, as well as four levels of downward pressure Increase in client and customer service standards thanks to proactive communication Higher quality of work through automated QA Receive real time and accurate claims information Smart analytics and performance data capture on one particular claim or all claims received 12
Our system has won multiple national and international awards, including: Winner, Asian Insurance Technology Awards: Best Newcomer 2011 Winner, Ernst & Young Entrepreneur of the Year: National Emerging Category Winner 2011 Winner, Australian Business Awards: Product Innovation 2011 Winner, ANZ BRW Private Business Awards: Excellence in Management Innovation Practices 2010 Finalist, Anthill Smart 100: Australia s 100 Most Innovative Products 2010 13
IMPROVING YOUR 5 KPI S Our purpose is to meet the changing needs of the property insurance market which is looking for innovative claims management solutions that deliver a full spectrum of real economic value across the five key market drivers of the industry: Cost Control Industry leading building and property assessments Quality of Work Quality is ensured through a structured QA program and cost and claims handling cost (spend measurement and scorecarding of all repair work. management across the assessing expenses and indemnity spend). Claim Lifecycle Reduction Transparent Client Communication As with customers, we also have the ability to keep insurers and brokers up to date on the progress of their quality lifecycle customer 37% reduction in property repair lifecycles from the claims with proactive communication via web, SMS point of approval for $0-$25k. or phone in real time. Clients are also able to track Customer Care AND EXPERIENCE Through our technology platform, we have the ability to keep policyholders up to date on the progress of their and measure vital details through live performance reporting, analytics and analysis of the complete supply chain. client claims with proactive communication via web, SMS or phone in real time. 14
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A new way of doing business in the insurance industry
For further information, please contact: Brian Siemsen CEO, Claim Central Holdings Phone: 0416 016 650 Email: bsiemsen@claimcentral.com.au Greg Johnson CEO, Cerno Phone: 0447 477 525 Email: greg.johnson@cerno.co www.claim360.com.au