Charles Taylor’s automated claims solutions are enabling insurers to outperform
Recent claims surges, such as those caused by tour operator collapses, Australian bush fires and Covid-19, saw Charles Taylor successfully managing as much as a 400% increase in claims volumes, thanks to automated solutions that included Electronic Notification of Loss. These preserved settlement times and freed-up claims staff for complex cases.
Charles Taylor continues to enhance its integrated automated solutions for multi-sector, low-value global claims after reporting that over 30% of its personal lines claims have been automated to some degree since 2018. Its insurer clients can access optional end-to-end digital processes in line with their capabilities and needs, to complement a range of alternative claims choices, including settlements-by-phone.
Charles Taylor’s bespoke automated services include digital registration of notification of loss and policy validation, claims creation, claims handling, payment authorization, provider invoice processing and reimbursement. Robust digital fraud detection indicators are integrated into the process.
Other non-customer-facing areas of automation have long-been utilised by Charles Taylor for low-value claims, including a choice of fully-automated immediate payment options, ranging from BACS to Vitesse.
Ian Latham, business development director for Charles Taylor, comments, “This increase in automation is part of Charles Taylor’s commitment to provide a full suite of technology solutions for insurers, brokers, MGAs, and distributors, to transform both their operating models and their customer experience.
“We have developed algorithms to adjust simpler claims, whilst ensuring continued access to human expertise to adjust large or complex losses. Spend is tightly managed, with improved insight on claims gained through analytics.