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A New Cross-Border Service for Large Losses

Insurers pay substantial amounts on cross border claims every year. Of course they want to maintain control on how these claims are assessed and checked, especially when it comes to large losses. Therefore, CED has formed an International Large Claim Management Team to review files concerning large losses . These reviews provide optimal guarantees to CED customers that their large claims are dealt with in the best way.

Insurers pay substantial amounts on cross border claims every year. Of course they want to maintain control on how these claims are assessed and checked, especially when it comes to large losses. Therefore, CED has formed an International Large Claim Management Team to review files concerning large losses . These reviews provide optimal guarantees to CED customers that their large claims are dealt with in the best way. 

“Check and Double Check”
Insurers want to have a comfortable feeling regarding their claims in other countries. For years our customers can rely on the skills and experience of CED Claim Handlers in other countries for accurate loss reserving, strategy, negotiations and settlement. CED believes that ‘Check and Double Check’ is of utmost importance, certainly when handling and settling large losses. That’s why we have installed the International Large Claim Management Team (ILCM). The ILCM team consists of our most experienced claim professionals from different countries, performing file reviews across CED's international network.

Extra service on top of existing quality
In most cases these losses concern Third Party Personal Injury claims from foreign nationals. The ILCM team pays special attention to loss reserving, compliance to standard service levels and procedures, fraud detection, file strategy, reporting and invoicing. The audit results are captioned in a file review report and any suggestions for improvement are communicated with the Country Manager concerned. With the ILCM team CED adds an extra service to its cross border claim settlement, providing optimal guarantees to our customers that their large claims are dealt with in the best way.    

Valuable results
Each year 25% of the files which have been identified as large losses are reviewed. Results from the 2014 - 2015 ‘Check and Double Check’ audit show that files across the Network  are in capable hands where it concerns the technical aspects of the work. Suggestions for improvement of the communication with clients (uniform report templates, regular updates) have been included in the managements action plan for the current 2015 - 2016 year.

As from 1st October 2015 customers will be notified when one of their large claims have been subject of a recent review by the ILCM team.

For more information, please contact Jos Peeters,  Operational Director Claims Europe at CED: jos.peeters@ced-claimexperts.nl