Future-proofed claims management peak performance

About the client

The client is a global insurer providing tailored insurance cover for large, complex risk exposures worldwide – on both Lloyd’s and its own company paper. The client delivers bespoke cover across the risk spectrum. Its highly skilled risk engineers specialise in providing innovative solutions for unusual and complex client needs. The client sees leveraging the skills of its 120-strong team of in-house claims specialists as crucial to its ability to provide an outstanding service to its clients.

Moving to a CMS solution

Following a thorough review of potential providers, the client chose DOCOsoft to implement its claims management system (CMS) in 2020. Previously, its claims team had relied on legacy market technology and had no all-encompassing workflow. After conducting a detailed scoping review and analysis, the client went live on the DOCOsoft CMS in mid-2020. The client manages would typically be managing around 40,000 outstanding claims at any given time – across both the Lloyd’s and London Company Market – so naturally it looked to DOCOsoft’s technology experts to create bespoke solutions to a range of specific requirements.

Taking the next step

The client company prides itself on automating elements of the claims cycle to free its specialist claims professionals to focus on providing support services and responding to policyholders’ individual needs when they need them most. So it’s perhaps not surprising that, soon after moving its claims operations to the DOCOsoft CMS, the client was looking to move to Phase 2 in its programme of claims technology empowerment. In 2021, the client business transitioned to a new version of the DOCOsoft system and worked with DOCOsoft to include additional functionality in a number of areas.

A game changing solution

The client’s claims team quickly recognised the Sanctions Checking module as one of the standout practical benefits of working with the DOCOsoft CMS. Having to sanctions-screen each of thousands of individual claims payments had previously required its adjusters to manually enter and check details on an external website, then download and store the results of each check as a document. This was time-consuming and unproductive work – though vital from a compliance point of view. The solution created by DOCOsoft not only automates that process, but ensures a complete record is available for subsequent audit.

Continuous improvement

Hard on the heels of Phase 2 came the implementation of a third phase in mid-2022, which introduced new core functionality and further additional modules, including the DOCOsoft Gemini Expert Fees solution. The client firm’s claims team in London cite the early integration of Gemini into the DOCOsoft CMS ecosystem as a good example of one of the key benefits of working with DOCOsoft: the way it is constantly in touch with – and taking advantage of – the latest developments in insurance market technology.

The future of claims

Understanding the likely shape of future market developments is key to surviving and thriving in that future. The client sees its participation in DOCOsoft’s regular User Groups as another key benefit. It recognises significant value in sharing thoughts and ideas with an extensive community of industry peers, exploring challenges and opportunities, and hearing the views of DOCOsoft’s experts on developments like Blueprint Two which will shape the claims world in the months and years to come. It’s part of an ongoing collaborative process that creates a pipeline of technological innovation closely tied to the current and future needs of big-ticket P&C claims teams today.

The future of claims

Process automation 

The client’s participation and input to User Group discussions enabled DOCOsoft to develop further automation functionality to meet the carrier’s specific requirements. As an insurance business keen to focus its adjusters’ expertise on claims where they’re able to add the most value, the client company is currently looking at undertaking a fourth phase in 2023.

A valued partnership

“The individuals and the teams at DOCOsoft are great to work with. We can be quite a demanding client, and they’ve always been very accommodating around that. Whenever we’ve gone to them for help with a particular issue, they’ve been great at going away and coming back with a solution that delivers the functionality we need. The ongoing support has been excellent at every stage, and you get a real sense of comfort from DOCOsoft being so closely plugged into what’s coming down the pipe in terms of future market initiatives. Our relationship with DOCOsoft, and with other DOCOsoft users, has always been stimulating and productive, and I look forward to building on that solid foundation in the years ahead.” – Claims Manager, DOCOsoft client