Claim Central Consolidated acquires Livegenic

Wednesday, 7 October 2020 (AEST): Claim Central Consolidated Pty Ltd (Claim Central), a pioneer in claims fulfilment technology, today announced the company has completed an acquisition to acquire the remaining shares in Livegenic Inc. (Livegenic), an industry-leading virtual collaboration platform for insurance.

Claim Central has been a key investor of Livegenic since 2017 and has now acquired the remaining shares in Livegenic that Claim Central does not already own, bringing Livegenic into the Claim Central Group as a wholly-owned subsidiary.

Livegenic’s cloud-based, real-time video collaboration and adjustment solution streamlines communications between P&C insurance organisations and their customers. Livegenic is most notably integrated within the Guidewire marketplace.

After years of co-developing and incubating together, founders Brian Siemsen (Claim Central) and Olek Shestakov (Livegenic) feel that now is the perfect time to bring both businesses together in what they describe as the final piece of their mission to deliver a faster and smarter claim experience.

“Livegenic’s remote virtual inspection software is a fantastic addition to the Claim Central solution set. This acquisition further enhances our ability to settle claims quickly, fairly, and on an increasingly remote basis. With the onset of COVID-19, there is a greater need for improved claims tracking and virtual claims handling than ever before, and Livegenic certainly fulfils that need”, Claim Central’s Group CEO Brian Siemsen said.

“Current market trends make this an excellent time to accelerate the growth of our claims ecosystem and this acquisition allows us to deliver the technology on a global scale”.

Livegenic will become a wholly-owned subsidiary in the Claim Central Group but will continue business-as-usual by maintaining its own brand identity, headquarters location, and staff/leadership including Olek Shestakov as Managing Director (Head of Livegenic). There will be no material impact on Livegenic’s existing clients.

Mr Shestakov said, “We are very excited to join the Claim Central family and are looking forward to all the new ways that we will work together. This acquisition provides new resources that will enable Livegenic to further enhance our services, expand our platform, and support our customers across the industry. Working with Claim Central will allow us to offer a truly end-to-end inspection and collaboration solution that elevates and expands claims servicing operations globally.”

 

Media contact:
Jessica Srbinoski
Claim Central Consolidated    
+61 429 191 108   

 

 

About Claim Central Consolidated
Founded in 2000, Claim Central Consolidated (Claim Central), is a global leader in property, motor, cyber and SME insurance claims services, technology and data & insights. Our market-leading technology solutions are completely transparent, simplifying and speeding up the claims process while significantly improving customer service on behalf of Australia’s leading insurers.
We’ve been recognised as the winner of Insurance Innovator of the Year in the Fintech Business Awards 2019, a finalist in Fintech Australia’s Finnies Awards 2020, winner for New Product Innovation in The Australian Business Awards 2017, and the Australian Financial Review’s 8th Most Innovative Company in Australia in 2016.
For more information, visit: www.claimcentral.com.au

 

About Livegenic
Livegenic is a global provider of cloud-based, real-time video solutions to property and casualty (P&C) insurance organizations which connect every part of the claims ecosystem. The award-winning platform streamlines communication between in-house and external adjusters, appraisers, contractors and policyholders, provides field video loss documentation capabilities, and delivers customer self-service solutions.
Available hosted or white-labelled, Livegenic helps field claim professionals receive claim assignments and document claims even in unconnected environments. Livegenic’s patented video technology engages claims professionals with customers to improve the customer experience, lower handling costs, mitigate business-related risks, and reduce complexity in the claims process.
For more information, visit: www.livegenic.com

Excellence in Insurtech 2020 Finalist

We are excited to announce Claim Central Consolidated is a finalist in the “Excellence in Insurtech” FinTech Australia Awards for 2020. The FinTech Awards recognise and reward the Australian FinTech community
by honouring innovation, growth and collaboration, with over 211 award entries in total.

EXCELLENCE IN INSURTECH – Sponsored by IAG

1WordFlow
Coverhero
Claim Central Consolidated
Medipass
Truly Digital Insurance Contracts
uBind
FreightSafe
Open – Insurance 


The category winners will be announced at the virtual ceremony on Wednesday 28 October. To view the full list visit: https://lnkd.in/gczVEk5

Hamish McLennan joins insurance-tech start-up board

Hamish McLennan has joined the board of Claim Central Consolidated, which has tapped Macquarie for a third seeding round out of the United States.

Mr McLennan joins a board which includes Macquarie Group head of principal investments Australia and New Zealand Richard Turner and Envest founding partner and managing director Greg Mullins.

“Claim Central is an absolute ripper and one of the best technology companies you may not have heard of,” Mr McLennan told The Australian Financial Review.

“I was approached in market. The growth is explosive and we have a tight and very professional board. I was attracted to the fact that Claim Central is a disrupter in the insurance industry and insurance is a massive market opportunity globally.”

Mr McLennan is chairman of Australian Securities Exchange listed digital property classifieds business REA Group, media company Here, There & Everywhere, and sporting body Rugby Australia, while also sitting on the board of funds management group Magellan.

Claim Central is a technology platform which connects insurers, customers, trades and services to speed up the claim process and reduce costs for insurers.

“We’ve got customers in the US, South Africa, New Zealand, Australia and Europe,” Claim Central founder and chief executive Brian Siemsen said. “We’ve been able to acquire, buy and build out partnerships.”

“In 2019 we broke through the $100 million barrier for the first time, and then at the end of the FY20 financial year, we’ve just landed at a bit over $150 million revenue … we also recorded record profits last year.”

Mr McLennan will act as a mentor and coach for Mr Siemsen, who has been running Claim Central – through its different iterations – since 2000, when he was playing rugby league for the South Sydney Rabbitohs.

“[The board] wanted someone who could bring in brand, marketplace development experience and somebody who understood the property space as well. Hamish was an absolute glove fit,” Mr Siemsen said.

“As we look to build out these marketplace platforms in insurance in other geographies and other adjacencies, he’s been a catalyst to figure out what that means … every insurer across all of these geographies are looking for ways to make it faster, better, cheaper. Cheaper for them, but also faster and better for customers.

“We just happen to have a platform that’s able to do that.”

Claim Central is working through a series-C round of funding, but focusing on US investment, where it has been growing its client base of insurers since 2018. The process is being run by Macquarie’s US office in New York.

Read the full article here

Claim Central hires former WeGoLook execs to lead North America

Jacksonville, FL – August 19, 2020 – Claim Central Consolidated (Claim Central), a pioneer in claims fulfilment technology, is pleased to announce former WeGoLook executives Robin Roberson and Kenneth Knoll have joined the company as managing directors.

While a growing number of claims insurtech solutions are available today, adoption remains low. Claim Central is committed to providing industry-leading digital claims technology to insurance customers around the world, and recently built on the success of the ClaimLogik claims tracking suite by launching a technology and services marketplace to help carriers, independent adjusters (IAs), and third-party administrators (TPAs) access and operationalize modern claims handling practices. 

The ClaimLogik marketplace facilitates the combination of technology and services to deliver solutions that meet rapidly evolving policyholder expectations and improve claim handling efficiency. From virtual inspections at the time of loss to managed repair programs, ClaimLogik provides the building blocks needed to improve technology and service accessibility for claims organizations of all sizes.

“There is a greater need in the market for improved claims tracking and virtual claims handling than ever before,” said Brian Siemsen, group CEO for Claim Central. “Robin and Kenneth have extensive experience launching, scaling, and leading an innovative claims insurtech company and we look forward to having their input into strategy, roadmap, and growth plans for Claim Central and TradesPlus in the future.”

Roberson has over 25 years’ experience in sales and building businesses, most recently as co-founder and president of Goose & Gander, a boutique consultancy firm, and partner at BuildArray, a no-code risk management and operations platform. As co-founder and CEO of WeGoLook, Roberson grew the business to over 45,000 contractors before its acquisition by a global TPA firm.

Knoll comes to Claim Central as the former CEO and co-founder of Goose & Gander and managing partner at BuildArray. Knoll was previously the COO of WeGoLook where he led market strategy, product innovation, and international expansion. Knoll forged leading industry partnerships with Guidewire, Duck Creek, CCC One, Symbility, Xactware, and others to bring on-demand and virtual inspection solutions to customers within and across existing insurance ecosystems.

“Kenneth and I have years of experience arming remote policyholders and contractors with the tools to capture data on-demand,” said Roberson. “But, the world has changed dramatically in 2020 and now is the time to usher in a new era of collaborative, on-demand and live video data capture for scoping and estimates. With Claim Central, I can continue my mission to provide global, on-demand inspection services without the need for a third-party. It’s much faster, more economical, and easier to integrate multiple technology providers, such as tools for measuring exterior and interior property.”

“The Claim Central team is forward-thinking and determined to deliver progressive platform solutions to a global market,” said Knoll. “I am absolutely thrilled to lead the product vision for North America. This is an excellent time to accelerate the growth of a truly open marketplace. The ClaimLogik platform provides agnostic connectivity to tools and services that elevate and expand claims servicing operations. We are effectively democratizing access to the best technology and service providers in the market and empowering customers to build solutions that fit the unique demands of their individual operations.”

Additionally, distribution channel and risk management expert John Wright and finance and investment executive Paul Yau are joining Claim Central’s U.S. management team as senior advisors effective immediately.












About Claim Central Consolidated (Claim Central)

Founded in 2002, Claim Central is a global leader in property and auto insurance claims technology, services and data and insights. Pioneers of digital claims fulfilment, Claim Central’s market-leading technology solutions are completely transparent, simplifying the claims process and significantly improving policyholder service satisfaction on behalf of leading insurers across the globe. For more information, visit www.claimcentralusa.com.

COVID-19 update from Claim Central Consolidated

 



CCC continues to be very responsive and our Business Continuity Plan (BCP) continues to be executed with precision and rifle focus. COVID-19 continues to disrupt the industry and world, however we are committed more than ever to ensure our people, customers, clients and supply partners are considered in all our responses.

We want to let all of our clients and business partners know that as an essential service provider, we are operating in a business-as-usual capacity during the pandemic.

How we are responding with our TPA, property repair and motor repair services: 

  • We are in a ‘Business as Usual’ state after the Insurance Council of Australia confirmed we are deemed an essential service
  • Our BCP is 100% operational with the entire CCC workforce globally operating remotely (from home)
  • We are very pleased to report that that all phones, internet, hardware, infrastructure is in full surge and is coping with the load and performing
  • Phones have been operational and phone stats have been at an acceptable level with some spikes in call volumes being experienced across different parts of the day. We continue to provide phone reporting stats to the clients that request it. 
  • Productivity levels are being maintained and the team are really doing their part to support this response
  • We have offered family friendly shift timeslots for the staff with school children at home which continues to work really well
  • Scripting and process remains in place across all our property and motor lines to ensure we protect our people, our trades, our service providers and customers
  • Trades and suppliers – we are ensuring that all suppliers are adhering to government guidelines around social distancing etc to ensure the safety and comfort of your customers
  • We have also provided ‘authorised worker’ identification to our trade base to minimise any disruptions to their travel and site access
  • The cross functional team continues to catchup daily. This team is responsible for any rapid response requirements, will make clear decisions, monitor and take control of the situation
  • Our Global CEO Brian Siemsen continues to send out daily videos which focus on motivation, health & wellbeing, operational updates, performance updates and special announcements. These are proving to be very successful and keeping the staff informed.
From a tech perspective we’re also seeing a huge spoke in demand from our clients for our remote video assessing capability, including:

  • LiveLogik, our live video streaming and collaboration platform – the most feature-rich product on the market. LiveLogik allows us to continue on with assessing and customer visual contact if a property cannot be accessed (face to face)
  • We’ve also expanded our Virtual Inspections as a Service offering to cope with the huge surge in demand from insurers – VIaaS involves CCC’s remote desktop assessors connecting directly with policyholders to inspect and assess their claims using LiveLogik

We continue to remain 100% focused on delivering in this time where the industry is still responding to business as usual claims and the back to back CAT’s that we have experienced in the recent past.

Again we want to reinforce that we are pushing a ‘One Team’ mentality and as individuals we all have shared responsibilities, to our role, to each other as colleagues, to the business and to the Australian economy.

For further information on Claim Central Consolidated’s COVID-19 response, please contact Matthew Lawrence at mlawrence@claimcentral.com.au

5 secrets to easier claims

Since 2001, Claim Central Consolidated has been a champion of creating easier, faster and cheaper claims outcomes for insurers, brokers and their customers. Here we take the 10,000ft view of what we believe are the 5 key secrets to easier claims.

1. Customer connection is #1


Everybody seems to share the same problems when it comes to insurance claims – lack of visibility, poor communication and very little connection to what’s happening in the claim. All too often, claim staff get so swamped with menial tasks and admin that the customer gets forgotten and frustrated.

The Chartered Insurance Institute (CII) (London), Public Trust Index, 2018, found that the top priorities of insurance customers are:

  • Having a claim settled quickly (76%)
  • Having a claim handled in a respectful manner (71%)
  • Having control over the way a claim is settled (69%)


Trust is the key to a great claim experience and the best way to build trust is through more visibility and better communication to create a more connected claim experience – before, during and after the claim.

Claim Central’s emphasis on building trust through technology has helped Insurx, our TPA claims management business, achieve industry-leading results in 2019 – with a +52 Net Promoter Score for one major client and an 87% home insurance claims satisfaction rating for another – results that have been almost unthinkable up until now.

A few examples of ways you can help your customer to feel in control of their claim:

  • Real-time customer sentiment & feedback – allowing customers to give feedback at every stage of their claim in real-time helps keep the claim on track and pre-emptively mitigates the risk of a poor experience.
  • Customer portal access – allowing customers to see where their claim is at and what the next steps are to finalise the claim. When there is a vacuum of information the customer tends to assume the worst – but by presenting complete transparency they know they have nothing to fear.
  • Keep it quick and simple – allowing the customer to sign and upload documents digitally, make excess payments via their mobile, or connect in real-time via video streaming, are all ways to make the customer’s life easier.

2. Take advantage of technology


Technology alone is not a magic bullet to achieving better claim outcomes – if it’s not based on a strategy of ‘customer-first’ coupled with a strong digital foundation and workflow, you won’t be able to achieve a connected claim experience.

A good example of this is our live video and collaboration platform LiveLogik, which allows claims to be finalised in a fraction of the time of the traditional process. With features such as live video streaming, digital document signing, mobile excess payments, on-screen measurements and drone integration, the first 72 hours of a claim are drastically reduced through real-time connection between the customer and claims manager. By integrating LiveLogik into our workflow and our claims management ecosystem (including ClaimLogik and Hello Claims), and by proactively providing desktop assessing capacity to handle the additional volume of this channel, we are able to take full advantage of LiveLogik’s capabilities. Without this integration into the core digital foundation of the business, the benefits would be greatly reduced.

Some technology innovations to look for in the next twelve months include:

  • AI – utilising predictive analytics pre-event and post-event to reduce losses and cut cycle times
  • Digital workers that far outperform their human counterparts in redundant repeatable tasks
  • VR technology not only at claim time but also for training purposes


3. Take control of your supply chain


Your suppliers are the lifeblood of any claim and taking control of your supply chain through digital channels is a key way to not only improve your claims process, but create scalability also. A few examples include:

  • Competitive tendering – setting up your ecosystem to optimise the tendering process through competition, is a key way to drive down claims cost on both materials and labour.
  • Digital scorecarding – by measuring every interaction between your supplier and the customer, you are better able to track the quality of their work and also their professionalism and customer service. What’s more, by tying scorecard results into your allocation process you can proactively drive better performance through incentivisation.
  • Digital access – allowing trades to participate digitally through the entire claim process not only drives engagement but also improves lifecycles. From initial onboarding, through to online claim tracking, photo & document uploads, live video streaming and invoicing – you make their lives easier which makes your life easier.



4. Generating insights from your data


Over the last couple of years the integration of data models and insights into the claims process has moved from descriptive and diagnostic reporting (which retrospectively tells you what happened and why); to a more predictive and prescriptive model. Predictive analytics helps you anticipate what will happen, while prescriptive analytics helps you to respond effectively to those likely events. So the data analytics journey within claims is evolving from a reactive one to a more proactive one. In essence, we as an industry can put data into the hands of frontline staff who can consume it to determine the best outcomes for customers and clients.

For Claim Central Consolidated, our ability to analyse claims data to identify bottlenecks has seen huge improvements in our long-tail claims reduction. In 2019, through our data analysis, we were able to pinpoint specific pain points in claims greater 60 days and take the appropriate measures – resulting in a reduction of 74% in open long-tail claims over a 3 month period.

An integrated data and analytics strategy can help you to:

• Connect data from multiple sources to create a 360° view of a claim
• Define lead and lag indicators for your key claim KPIs
• Prepare, respond and review catastrophe events through comprehensive weather event monitoring
• Estimate duration targets and cost targets at claim level and segment level
• Plan capacity and utilisation
• Use predictive models to optimise customer, cost and lifecycle outcomes across your claim segments
• Enable early intervention to reduce the impact of ‘off-track’ claims



5. Lifecycle, lifecycle, lifecycle


Like it or not, claim performance outcomes are a direct function of lifecycle. The longer the claim, the greater the cost, the unhappier the customer. As we all know, keeping lifecycle at front of mind is key.

One of the key influencers of total lifecycle is the first 72 hours of a claim when first notification, mitigation and emergency response take place. One of the ways to improve lifecycle at this early stage and get the claim off to a fast start is by using technology that encourages quick and easy interaction between the customer and the repairer or insurer.

Our live video streaming and collaboration platform, LiveLogik, has provided enormous results to our claims performance at Claim Central Consolidated. In 2019 our property repair average time from claim decision to receiving excess and signed scope of works was just 5.5 days (a 68% reduction compared to 17.4 days using traditional methods). Tellingly, 30% of these are received within just 3 hours and 58% within 1 day.

The Future


What will claims look like in 10 years? How much of the claim process will be handled by humans, and how much will be technology-led through robotics and digital workers? How smart will technology be in not only completing processes and tasks, but feeding information into data models to create a continuous loop of improvement?

We’re looking to the next horizon and it’s a lot closer for insurers and brokers than a lot of people think if they are willing to implement a sound digital foundation and a smart workflow methodology. The industry needs to move from a ‘bolt-on’ mentality of piecing together disparate widgets and platforms, to a ‘vision-first’ mentality – starting from the ground up to understand their vision and operational model before integrating the relevant technology to help achieve that vision.


To learn more, please contact:
Matthew Lawrence | Head of Partnerships
mlawrence@claimcentral.com.au
+61 401 063 828

Security First Insurance Selects ClaimLogik to Power Digital Claims Transformation




Jacksonville, FL – February 15, 2018 – Claim Central Consolidated (CCC), a global pioneer in digital claims fulfilment and live video streaming, is pleased to announce the company has been selected as the technology partner to power the digital claims transformation for one of Florida’s largest property and casualty (P&C) insurers, Security First Insurance (Security First).

Named one of Florida’s best places to work by Florida Trend Magazine in 2017, Security First provides homeowners’, condominium and renters insurance across the state. The company has earned a reputation for developing and investing in technology which transforms the customer experience. Over the last nine months, Security First has been exploring claim technology to improve the claim customer experience while lowering claim and operational costs.

“We have a network of strategic partners that enables us to maintain a competitive advantage and deliver an incomparable experience to our customers,” said Werner Kruck, chief operating officer for Security First Insurance. “While exploring potential claim technology partners, we were not only looking for innovation, but also a cultural fit. Claim Central, like Security First, has a vision of transforming the insurance experience, and we are not only adopting the ClaimLogik technology, we’re also reorganizing our operations and implementing their claim management methodology. It’s a major initiative that is going to deliver powerful results both internally and externally, and for the long term.”

Security First is planning to complete the integration by the end of the year. ClaimLogik is an additional layer of technology that will be integrated into the company’s existing claim management system. This implementation will enable Security First’s internal users, external distribution channel partners, and customers to more efficiently connect with the company’s established ecosystem of adjusters, emergency services, and restoration providers on a single platform. The ClaimLogik implementation will also enable Security First to provide complete transparency into the claim process from first notice of loss (FNOL) through to resolution, while enhancing the service experience for customers.

“The ClaimLogik digital ecosystem is something we have never seen before in the U.S. insurance market, yet it easily integrates into our existing claim administration system,” said Kruck. “The flexibility of the technology was very important to us and trying something new, well, that’s just part of our corporate DNA. ClaimLogik will give our customers greater control of the claim process and it will allow them to more quickly restore their properties through a seamless claims experience.”

“In a technology-driven, customer-centric world, insurers are continuously looking for ways to transform the way claims are managed to remain competitive and relevant to their customers,” said Brian Siemsen, global CEO for CCC. “We are delighted Security First has selected ClaimLogik as its technology of choice for this claim transformation project. The process transparency, speed of settlement, and improvement in operational efficiencies will give Security First Insurance a competitive edge now and well into the future.”

# # #

Claim Central opens new Darwin office to support their clients in the Northern Territory

Tuesday 5 December, 2017: Pioneers of digital claims management and live video streaming across the Asia Pacific, Claim Central, today announced it has opened a new office in Darwin to better serve underwriters, brokers and their customers in the Northern Territory.

Wade Eilersen, General Manager – Loss Adjusting Services, Claim Central said: “The opening of the Darwin office means we can better provide easy access to our end-to-end digital claims management and loss adjusting services for all lines of business in the region.

“Our experienced team provides support in all areas of claims management from: receipt of initial instructions, customer contact, claims triage, repair management, settlement right through to the closure of a claim,” he said.

The Claim Central Northern Territory team services Darwin and surrounding areas including Katherine, Alice Springs, Jabiru, and Tenant Creek. In Western Australia, the team will serve Kununurra, Broome and Port Headland, and the islands and gulf country of Northern Queensland.

“Each of these areas is vibrant and what makes the top-end unique. We look forward to engaging with these business communities and better supporting the needs of our clients and their customers,” Mr Eilersen concluded.

The Darwin office is located at Suite C106/19 Kitchener Drive, Darwin.


Claim Central announces three-year partnership with Metroll to reduce average repair costs for trades and insurers


Tuesday, 3 October, 2017:
Pioneers of digital claims management and live video streaming across the Asia Pacific, Claim Central, today announced a three-year strategic partnership with Australia’s leading manufacturer of metal building materials, Metroll.

Under the agreement, Claim Central’s trades and suppliers will have priority of orders and access to discounted roofing, cladding, rainwater, structural and fencing materials.

Travis Dale, Head of Operations, Australia and New Zealand, Claim Central, said: “We’re delighted to have signed a three-year partnership with Metroll, a well-managed Australian business which is renowned for developing high-quality building materials.

“We’re consistently looking for ways to meet more of the needs of our clients through continuous improvement. By forging partnerships with our suppliers, we’re enhancing our supply chain process by providing greater value to our trades, and reducing the average repair claims costs for insurers,” he said.

Paul Jensen, National Business Development Manager, Metroll, said: “Our partnership with Claim Central was a natural fit for us as we pride ourselves on providing building solutions and high quality building products to trades.”

Aviso Group to adopt digital claims management solution to provide brokers with real control over the claims process

Aviso Group


Wednesday, 13 September 2017, (Sydney, AEST):
Pioneers of digital claims management and live video streaming across the Asia Pacific, Claim Central Consolidated (CCC), today announced Australia’s leading broking group, Aviso, will adopt ClaimLogik to digitalise the claims process for their broker network and clients.

Claim Central Consolidated Chief Executive Officer, Brian Siemsen, said: “We are excited to be onboarding our ClaimLogik technology into the Aviso Group.

“By providing complete transparency and full line of sight for all parties in a claim, we are redefining the claims process for Aviso. This will lead to a more informed claims process for brokers, and a better service experience for their clients,” Mr Siemsen said.

Aviso Group Chairman, Barry Fitzpatrick, said: “In a world where businesses are constantly reviewing how to remain relevant to their client base and improve customer experience, an insurance claim is a great opportunity for a broker to demonstrate how they add value to their clients.

“The innovative ClaimLogik solution will provide our broker network with a framework to have real control over the claims process, enabling them to better manage claims for their clients,” Mr Fitzpatrick concluded.

The platform enables insurers, brokers and policyholders to connect with a supply chain of assessors, insurance builders and emergency services – in a logical sequence of automated activity on one platform. It produces information and data which creates a continuous loop of improvement on claims cost, claims handling, quality of repair and customer service.