CEO: “You can’t automate or outsource the customer experience”



For Brian Siemsen (pictured), global CEO of Claim Central Consolidated (CCC), the benefits of conducting a claims process in a digitally-enabled manner were clear well before COVID-19 hit. Though insurers might have been generally aware of these benefits as well, the pandemic quickly made it clear that tools such as virtual inspections were now a necessity rather than a luxury, allowing CCC to flourish.

“The minute COVID-19 happened and insurance organisations began to settle on what their digital response was going to be, we experienced a huge surge in demand and use of our technologies,” Siemsen told Insurance Business.

“Even before COVID, insurers were turning to virtual inspections as a way to streamline operations, reduce costs and improve outcomes. In states like Victoria and Queensland, along with other countries including South Africa and New Zealand, we very quickly saw a huge uptake of our Virtual Inspections as a Service (VIaaS) offering among insurance carriers, brokers and other stakeholders in the market,” he added.

Read more: Coronavirus: Claim Central Consolidated expands offering amid “overwhelming” demand

Using the live video streaming and collaboration platform Livegenic, CCC’s VIaaS proposition can be used in property, motor, cyber, and business SME claims assessments. The company employs trained, remote desktop assessors who connect directly with policyholders to inspect and assess these claims, considerably reducing both expenses and the length of claim cycles.

In Siemsen’s view, the adoption of such virtual inspection tools points to the way in which “COVID-19 has simply accelerated the existing trend of insurers seeing the benefits of VIaaS for customer interactions and damage inspection.”

“I suspect that we won’t be going back to having predominantly physical site inspections, and so when we look at the willingness of policyholders and insurers to integrate virtual tools and even some of the real-time self-service opportunities that CCC offers, it becomes quite an exciting time to be at the forefront of such a trend,” Siemsen noted.

CCC isn’t resting on its laurels, however. The company is currently working on a number of digital solutions that will ideally enable certain mundane, repetitive tasks like data duplication to be minimised for brokers.

Read next: Claiming the future

“We’ve got some great partners in the broker space who are really looking not just to solve problems in the current environment, but to work out how they can use these tools that we’ve made available so that brokers and policyholders don’t have to go back to duplicating information and constantly dealing with administrative tasks,” he said.

One such tool that CCC is currently examining is virtual reality (VR), which Siemsen believes could be a gamechanger for claims processing.

“If you have the ability to capture a 3D, immersive walkthrough of a property that’s been damaged and can share this visual along the claims handling chain, it can potentially offer massive benefits for all parties involved by getting them all on the same page,” he explained.

“By bringing together the broker, loss adjuster, claim inspector, policyholder and so on, it’s much easier to agree on the best path forward for the customer. It’s clear that VR truly has the potential to improve claims outcomes.”

Though the advantages of VR are clear, Siemsen reiterated that “you can’t automate or outsource the customer experience.”

“There’s a lot of ways in which processes in insurance can be digitised and automated, and it’s something that we leverage to our clients’ advantage at CCC,” he said. “However, there has to be a significant element of human touch in the broker space, and the overarching focus needs to be on claim outcomes that best suit clients.”

Looking forward, Siemsen sees impending regulatory changes as one of the key challenges facing Australian insurers in 2021.

“It’s going to push significant levels of administration-based, regulatory-based and compliance-related activities down into supply and value chains,” he said. “Ideally, that’s going to be met with a level of innovation in regards to technology and automation, but if this doesn’t happen then we could definitely see increased costs coming.”

Angus Cruickshank joins as Head of Claims Strategy

Claim Central is pleased to announce that Angus Cruickshank will be joining the group as Head of Claims Strategy, reporting to the Group Chief Operating Officer and Managing Director ANZ & Africa, Eben le Roux. 


 

Angus will provide technical support and training to Claim Central business heads and team leaders, ensuring the group successfully embed a best-in-class approach to our claims management practices.  

Angus joins from Youi Insurance in Queensland, where he held senior leadership roles over the past four years in assessing, claims improvement, general insurance claims and most recently procurement.  His earlier experience at Suncorp involved managing claims, operations, supply and on-site field operations.  Angus has a deep understanding of the regulatory environment and is well known to many of the major insurers.  He is also passionate about the importance of data analytics and the role of technology. 

Finder Innovation Awards 2020

Claim Central Consolidated is proud to be named a finalist in the 2020 “Best Insurance Innovation” category, for the Finder Innovation Awards.

Our recognition as a finalist for the Innovation Awards was based on our Virtual Inspections as a Service (VIaaS) innovation. Virtual Inspections as a Service (VIaaS) involves our remote desktop assessors digitally connecting directly with policyholders to inspect and assess their claims, using our live video streaming and collaboration platform LiveLogik.

The Finder Awards 2020 innovation categories celebrate the success of Australia’s most forward-thinking businesses. Given the difficult economic conditions, it’s more important than ever to acknowledge excellence and recognise creativity and impact across a range of industries from banking and insurance to technology, retail and travel.

The 12 innovation categories recognise improvements, new initiatives as well as innovative responses to the COVID-19 pandemic which businesses implemented in the 2019-2020 financial year.


Read more about the awards here.

Excellence in InsurTech- Winner

Claim Central Consolidated is delighted to be named the winner of the 2020 FinTech Australia Awards for “Excellence in InsurTech”, for our Virtual Inspections as a Service (VIaaS) offering.

Now in its fourth year, the awards give fintech startups the opportunity to be recognised for their work and innovation.

This award recognises the insurtech that has demonstrated the most innovative technologically enabled advances in the insurance industry. 

Claim Central Consolidated’s product/service Virtual Inspections as a Service (VIaaS) involves our remote desktop assessors digitally connecting directly with policyholders to inspect and assess claims, using our live video streaming and collaboration platform LiveLogik.

VIaaS meets every insurer’s need to ensure the safety of all stakeholders during and after the COVID-19 pandemic by removing the need for physical site attendance.

VIaaS allows teams to virtually inspect claims without the need for time-consuming onsite visits – saving time and effort for assessors, while also protecting customers through social distancing. Customers remotely connect with a desktop assessor to document the claim via LiveLogik, allowing the assessor to provide real-time guidance as the customer live streams the damage.

FinTech Australia CEO Rebecca Schot-Guppy said: “Despite the toll COVID-19 has had on our industry, the calibre of entries this year was outstanding.”

To view the full winner’s list click here.

About FinTech Australia

FinTech Australia is a national association for the Australian FinTech Startup community. Our vision is to make Australia the leading market for FinTech Innovation and Investment by working with both sides of Government, Industry and the Australian FinTech community to create a supportive environment and partner ecosystem in Australia and abroad.

Best Insurance Innovation Finalist – Finder Awards

Today, Claim Central Consolidated was honoured to be recognised as a finalist in the Finder Awards 2020 “Best Insurance Innovation” category.

The Finder Awards 2020 innovation categories celebrate the success of Australia’s most forward-thinking businesses. Given the difficult economic conditions, it’s more important than ever to acknowledge excellence and recognise creativity and impact across a range of industries from banking and insurance to technology, retail and travel.

The 12 innovation categories recognise improvements, new initiatives as well as innovative responses to the COVID-19 pandemic which businesses implemented in the 2019-2020 financial year.


Winners will be announced on Wednesday 28 October 2020.

Claim Central named on the 2020 AFR BOSS Most Innovative Companies list

Today, Claim Central Consolidated was honoured to be recognised as one of Australia and New Zealand’s Most Innovative Companies. The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges.

We were honoured to rank 7th on the Banking, Finance and Superannuation list, from over 600 nominated organisations across Australia and New Zealand. The assessment measures a top innovation implemented in the past two years. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that innovation has had.

Inventium also assesses internal elements such as innovation culture, strategy, resources and process, which demonstrate a sustainable and repeatable approach to innovation.

The list can be viewed here

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

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

Features comparison – LiveLogik vs Competitors

The LiveLogik platform is the most feature-rich video streaming and collaboration platform available, with features including instant payments, document signing, drone integration, customised reporting, geolocation tracking, API integration and much more.