47% Productivity Improvement in the Claims Management Area
Customer
IAG New Zealand
Challenge
Insurance fraud, and the time taken to investigate it, was an increasing strain on resources. IAG needed to do more with less and show proof of the added value and cost savings.
Solution
FRISS Enterprise Investigations
Results
47% productivity improvement in the claims management area
Case volumes have grown three times, while maintaining the number of staff
Achieve better investigator throughput
Being able to look at all the different metrics, KPIs and SLAs throughout the investigation in one solution
Customer
IAG New Zealand (IAG NZ) is the New Zealand operation of Insurance Australia Group Limited, one of the largest general insurance groups in Asia-Pacific. It is the country’s largest general insurance provider. IAG’s field officers are responsible for investigating and assessing thousands of insurance claims every week. The company’s Claims Services group provides back-office support to a large field team of investigators and assessors. Insurance products are sold directly to customers, predominantly under the State and AMI brands, and through intermediaries such as insurance brokers and authorized representatives, through the Lumley and NZI brands. IAG NZ’s Claims Services group provides support across all the brands.
Challenge
Dan Barrett, Specialist, Performance and Recoveries, Claims Services, for IAG NZ says like most businesses nowadays, IAG NZ is always looking for greater efficiencies.
“We need to do more with less and we also had the challenge of being able to prove our worth to our investigations team. We needed to show the value we are adding to the business and what cost savings we were delivering.”
Insurance fraud – and the time taken to investigate it – is also an increasing strain on resources. IAG NZ needed a tool to overcome these challenges.
Solution
IAG NZ asked to design tailored business processes to meet the needs of its various business groups across all of its general insurance brands. This included building investigation processes for 20 internal investigators and external suppliers, and more than 50 insurance assessors across New Zealand.
Once the initial training was completed, IAG New Zealand staff needed no further help to further innovate on their own, which resulted in significant cost savings. “This ability for us to make changes to the configuration of the system, test it in training, and quickly deploy it has been fantastic,” Barrett says. “And when we have needed the team they have been very responsive. When we put in a request the delivery time frames have been very short.”
Results
IAG NZ has employed the solutions since 2010 to improve the interface between investigators and assessors in the field and back office processes. They enabled IAG NZ to achieve better investigator throughput and a 47% productivity improvement in the claims management area.
“The solution has allowed us to look at all the different metrics, KPIs and SLAs throughout the investigation process and see where we can add the most value in the business,” Barrett says. “This is the first time we have had a single solution at IAG NZ that allows us to do that. And we can drill down on an individual investigator, team and location throughout the country, which allows us to tweak our business to provide a better service to our clients.”
Case volumes have grown three times since IAG New Zealand started using the investigations solution, with the same number of staf