News

Summer 2016

DOCOsoft Going for Gold!

At DOCOsoft we believe that sports are good for both body and mind, a great way to unwind after the rigours of a tough day handling claims.

We are quite a competitive bunch at DOCOsoft and are very much looking forward to this year's Olympic Games in Rio. According to organisers, we can look forward to 42 Olympic sports, 306 events over the course of 19 days, yielding 136 medals for women, 161 for men and nine mixed medals.

Phew, that does sound exhausting, for some of the athletes anyway with the exception of the golf players who, let's face it, have it pretty easy! Sports success though is about having a vision to succeed and a strong work ethic to make the most of an innate talent. The aim is to win and stand out from the crowd.

Likewise, Insurers and their claims departments need to stand out from their competition. Anyone can compete, but to compete successfully in the Insurance landscape, the right tools and the vision of an Olympian are required.

Risk profiling technologies such as Telematics devices are causing a lot of excitement. Initial scepticism has been replaced with respectful admiration as the results begin to speak for themselves. Unfortunately, the secret weapon of Claims Analytics still flies under CEO radar.

Write Back technology however, is already playing a major role in modernizing Managing Agents' claim operations. In this newsletter, we discuss how our modern day claims practitioner Olympians are investigating new ways of being more customer-driven and profitable.

DOCOsoft, for example, is adding new strings to its archer's bow in the form of new data-powered modules and functions. So we invite you to join the claims conversation in this Summer issue and Go for Gold with DOCOsoft!

Write Back Update:
Gold Plated Claims Market Stability

Write Back came of age in May 2016 and again earlier this month when its DOCO Claims version of the system sailed through a crisis caused by the unavailability of the Market Central Services system (IMR and ECF). All Market Carriers that are yet to on-board with DOCO Claims Write Back were massively disrupted and unable to handle any claims transactions during the outage.

DOCOsoft's Write Back clients were relatively unaffected by major technology issues which shut down all ECF central system claims handling for most of a working day and at sporadic times lasting up to two hours in the two to three week period that followed the May outage. Users with Write Back capable systems were able to continue with their day jobs and the market was soon realising the benefits of systems which offer new claims market stability.

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To Hell and Back with DOCOsoft!

DOCOsoft's ambitious crew of claims software developers have decided that the best way to launch our 2016 Charity of the Year is to enter a team in the forthcoming Hell & Back on September 10th 2016. For those London market claims handlers out there that are unaware of this event, Hell & Back is an endurance challenge, with a gruelling 7km run in the Dublin/Wicklow mountains fraught with dangers and obstacles.

For more info see http://www.hellandback.ie/ and note that this particular event is named the Hell and Back Titan as all the challenges in the series are named after an ancient Greek mythological figure. All money donated will go to DOCOsoft's chosen charity, which is Macmillan Cancer Research. It's also worth emphasising that this is a challenge, not a race, so we will be helping each other throughout the event and do our best to make sure everybody makes it across the line!

DOCOsoft Clients Lift Off with Write Back System

DOCOsoft is pleased to announce that we have entered into a multi-year contract, won via a very competitive tender process, with Markel International to provide a new Write Back enabled Claims Management System, which is designed to increase efficiencies in claims handling and cost management, as well as provide enhanced reporting functionality. The Write Back enabled system allows Markel International to operate fully from within one internal system without recourse to central market systems; the IMR and ECF. The claims management system went live on schedule and within budget on 22nd June 2016. This is the first phase delivery of a larger programme of change within Markel Claims to include a full Peer Review module, future integration across possible multiple platforms for non-bureau claims management and processing.

Hannah Purves, Claims Director Markel, commented: "DOCOsoft has demonstrated that they can meet our bespoke claims management system requirements. They have worked closely with our team, have been responsive and flexible to our business needs and the result is a system which will help us in revolutionising the way we handle claims in Markel"

In more good news, long-standing client Managing Agency Partners (MAP) have also entered into a multi-year contract with us to provide a new Write Back enabled Claims Management System. The system went live on schedule and within budget on 11th July.

MAP Head of Claims, Ian Springett said: "MAP has always been reliant on systems because technology plays an essential role in driving the effectiveness of our focussed and lean operating processes. Our new claims management system is a key technological component that enables MAP to deliver an efficient, high quality claims service and assists in satisfying many regulatory requirements."

















Decommissioning of ECF1: Proof of Darwinian Claims Evolution?

In the wake of the news that ECF1 decommissioning is imminent, DOCOsoft Business Development Manager Graham Sheppard analyses what it all means for claims teams and looks back to a pre-historic world of strange unevolved creatures - Neanderthal spreadsheets, primitive workflow modules and lesser spotted workbaskets!

So decommissioning of ECF1 is at hand! The recent notice from the LMA is that as planned, and on the back of the successful delivery of the Claims Awaiting Action (CAA) function to ECF2 in February 2016, the ECF User Group is reminding all users of the decommission of ECF1 (Lloyd's only) claim agreement screens from 26 June 2016.

According to the LMA, Managing Agencies that have not yet planned or conducted the migration of current Lloyd's ECF1 users to ECF2 should seek to undertake this process as soon as possible. The phased decommission will start on 26 June and will continue until all users no longer have access to the service. What does it all mean for claims practitioners though?

Compliance with Lloyd's Claims Management Principles, Minimum Standards and other regulators and governing bodies needs to be managed better. We need better control and management of the experts we appoint. We need stringent audit reporting. We need effective control of the claims we are handling, our own claims team's performance and the brokers we deal with. We need financial reconciliation to ensure we have the very latest true financial position of a claim. We want to manage our customer and client meetings with effective customer relationship management.

In short, Management Information has taken on a whole new importance. Claims Managers want more, as do the claims handlers. The technology should support them to be able to concentrate on what they do best – handling a claim. They want a simple to use system that guides them through processes like manager approvals of above authority claims, peer reviews, diaries, static claim reminders, and Expert appointments.

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New London BA Appointment

Dublin New Hire

As DOCOsoft seeks to expand its London Operations team we are pleased to welcome Alex Brown who has joined DOCOsoft's London Office following working for two and a half years at a software house where he was an account manager for a major London market carrier. Alex will be a client facing Business Analyst for DOCOsoft supporting the growing London team - as it builds on recent successes with Markel and MAP going live with Write Back, and other customer projects – and will be supporting new clients in and around EC3.

Alex studied medicine at University before deciding that his talents were more business and analytics focused rather than hippocratically inclined. He joined DOCOsoft because of the company's ambitious plans for the future.

We are also pleased to announce growth in our Dublin centre with the appointment of Gavin O'Mahony

Gavin has joined us as a Technical Support Engineer in the Dublin office. A Fresh 2016 Computer Science Graduate from DIT, Gavin is eager to learn and grow in DOCOsoft's rapidly expanding Dublin team. He aims to combine both his technical ability and strong communication skillset to bring a high level of service to our customers.

Outside of the office, Gavin has a keen interest in sports and fitness having played rugby and football at schools and club level for over 10 years. He also enjoys keeping a close eye on politics and current affairs.

The Value of Expertise in Claims and Technology

A fascinating and recently reported claims case shows why London market carriers value their Experts so highly, but it can be a dangerous job for some of them. The case also demonstrates the huge importance to claims practitioners of maintaining and managing electronic archives containing full and un-redacted information on losses.

It was reported that the UK High Court struck out a claim brought against 10 Lloyd's insurers by a Greek ship-owner in a dispute over the loss of the Brillante Virtuoso in 2011. In a judgment handed down on the 10th May Mr Justice Flaux said the story given by ship-owner Marios Iliopoulos was a "complete fabrication" and that he had deliberately misled the court.

Insurance Insider reports that the case centred on an electronic archive containing full and un-redacted information on the loss of the ship, which the claimant had failed to produce to the court despite a court order. Iliopoulos said the archive had changed hands several times with other parties, and therefore he was unable to provide it to the court or the defendant's lawyers.

Flaux said he did not believe the claimant's story of the "to-ing and fro-ing" of the archive. "In my judgment, Mr Iliopoulos was always unwilling to hand over the archive, irrespective of whether there was a court order." he said in the judgment.

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Solvency II: Data Management and Disclosure Challenges

Compliance with certain aspects of Solvency II such as data management and disclosure provides many challenges, not the least of which is the investment in new technology systems needed to support it, writes DOCOsoft Systems Analyst Paul Jordan. Factor in greater regulatory complexity, with legal rules shifting from spelling out a series of provisions to being a principles-based system with significant implications for claims departments in particular, and it is easy to see why there is a thirst for information on the subject.

A key aspect of Solvency II disclosure is regulatory reporting into the Prudential Regulation Authority in terms of both private and public reporting that can be made available to everyone, including additional reporting made in confidence to the PRA. Under Solvency II, Pillar 3 requirements will be very substantial both in terms of the amount of data needed and also the severity of deadlines to get the data to the PRA. To support these requirements, the technology systems that underpin a lot of the work being done on Solvency II will need to be intuitive and flexible.

Underwriting teams, claims and their IT departments are delivering new or enhanced risk management systems to cope. The challenge for claims teams, for example, will be to provide accurate data to a lower level of granularity at far more regular intervals than before, from source systems which, in insurance, are often legacy in nature.

This is the area that will be harder for the Lloyd's market in particular, because of the two step process it has to pass through. First of all, the new technology systems will need to collect the terms from each of the Syndicates. There will be a need to review these terms and revert to Managing Agents with any queries and finalise data sets before aggregating the Syndicate level data along with the data held centrally in respect of the assets and liabilities of the corporation to provide to the PRA.

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Lloyd's Claims File Review - What Managing Agents Need to Know

Managing Agents are required to meet the Principles and Minimum Standards set by Lloyd's and this applies equally when ensuring that there is an appropriately detailed, regular file review process. According to Lloyd's the process for claims file review shall be documented and allow for the results to be reviewed with the relevant claims handler.

Under the current system, when a handler adjusts a claim, a percentage of their claims under Lloyd's Minimum Standards MS2 Claims Management have to be reviewed by a peer internally. indeed a number of MAs use external reviewers/review firms for their 'internal' Peer Review required under the Minimum Standards. It might be someone in their team, their manager, or someone in another team that understands their class of business but they will essentially check over work, record what they've checked, and flag any errors they think may have been made.

Internal peer review will continue but under the new system set to go live in October 2016, Lloyd's requires a 'quota' of files to be reviewed by an external independent reviewer against a consistent, market-wide question set. Lloyd's Claims Minimum Standards does not specify the number and/or percentage of files to be peer reviewed. However, it does refer to the fact that a written rationale for the sampling methodology should be in place and take into account; the frequency of review, the open claim count, the mix of business and the claims portfolio. The sample size should be representative.

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DOCOsoft Fails to Locate First Gear at Lloyd's Motor Club Quiz

DOCOsoft was delighted to "compete" in the Lloyd's Motor Club Quiz Night held in April earlier this year. According to the organisers, questions have a motoring theme, but do not require guests to be qualified "petrol heads" The DOCOsoft table was somewhat dismayed to discover, however, that even the combined weight of Jeremy Clarkson, Richard Hammond and James May would have struggled to make the top three tables in this fiendishly difficult and arcane auto quiz night.

Suitably chastened by our complete lack of Petrol Head credentials the DOCOsoft team scuttled off into the night - once the quiz had concluded – on foot. On the plus side, proceeds from the night will go to the charities supported by this year's 2016 Monte Carlo Rendez Vous Run.


Looking forward to Monte Carlo: what can we expect to be debated at this year's Rendezvous in relation to claims?

The 60th edition of Rendez Vous de Septembre is nearly upon us. This special edition will be placed under the High Patronage of His Serene Highness Prince Albert II. Our DOCOsoft roving reporter who will be attending again this year has already noted that the official cocktail party will take place at the Grimaldi Forum Monaco, on September 12th.

The major theme for this year's Rendez Vous is Insurance, Reinsurance - Trends, Cycles and Disruptions. Claims tend not to feature highly on the agenda as the delicious canapes are consumed and the copious goblets of bubbly are coiffed but at DOCOsoft we intend to put that right this year. That's why we have drawn up our own list of trends in claims that relate to the theme of disruption that this year's Rendez Vous seeks to highlight.

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LMA SUMMER QUIZ 2016

Staff at DOCOsoft along with some colleagues and clients gathered enthusiastically at the annual LMA Summer quiz on the 14th June to put the team's general knowledge to the test, seeking to improve on our respectable joint second place finish from last year. We were also seeking to banish the memory of our disgrace at the recent Lloyd's Motor Club quiz by atoning for that performance at the LMA's quiz which is spread over nine rounds, with all the usual fun, games and prizes to be won!

DOCOsoft are quite keen quiz takers so we ended up taking two tables on the night – Old DOCOsoft and Young DOCOsoft. Old DOCOsoft's grizzled quiz veterans were quietly confident that we had the measure of the young pups on the other table even though there were a few nervous mutterings that the opening picture round of Disney cartoon icons and famous characters was not a major speciality.

Those nervous mutterings were confirmed at the end of the evening when the result was revealed. Old DOCOsoft had fallen from the heights of 2015's second place showing to second last in 2016. How the mighty have indeed fallen. Young DOCOsoft, meanwhile, managed a creditable mid table showing in 10th place.

The Old DOCOsoft team is not bitter in any way but there may be some merit in the thinking that the LMA "dumbed down" the questions in this year's quiz to appeal to a younger audience. As for Disney picture rounds, bah humbug!