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QBE speeds property claims, appoints Sedgwick

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QBE has appointed Sedgwick as its sole principal loss adjusting partner as it introduces new technology that allows it to streamline property claims decision-making and cut costs.

The insurer says its “Property Decisioning Tool” can quickly assess likely claims complexity and repairs, while also immediately engaging the right supplier to start the recovery, reducing the reliance on external loss adjusting partners.

The tool, one of QBE’s first data-driven products to be developed in-house, has completed pilot testing and is ready to go into operation.

Crawford & Co, previously one of the principal partners with Sedgwick, will continue as one of five other firms contracted to maintain geographic capability and capacity.

McLarens and Charles Taylor will also continue to be contracted, while new arrangements will be in place with YDR and Technical Assessing to supply specialist services.

The changes are part of a number of initiatives being introduced through QBE’s “Brilliant Basics” improvement program.

Chief Claims Officer Jon Fox says the new “decisioning” tool challenges the traditional claims model by automating non-complex claims, improving and speeding up the recovery process.

“We know that today’s customer is seeking quality of service and speed of service – and both at the same time,” Mr Fox said.

“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.”

The process changes will also drive a shift from 85% reliance on national builders to focusing on local and regional providers for commercial and residential work.

A QBE spokesman says there will be no impact on staffing levels.

“It just means we can increase the number of customers we can service and also reduce the claim lodgment time, so the customer gets a better experience and the claims officer gets more time to think and act,” he told insuranceNEWS.com.au.