Volume Claims Service

Volume Claims Service

Volume Claims Service (VCS) is a market-wide service for handling low value, high volume claims across all classes of business, which aims to increase service quality. VCS will allow managing agents to focus their own claims resource on more complex losses and, over time, create a claims talent pool for the market. As one of only two accredited service providers for VCS, Crawford will provide a cost-efficient method to quickly settling claims without sacrificing technical or reserving accuracy.

Services Include

  • Marine and Aviation claims handled by our dedicated specialists based in our London, U.K. office, who have been recruited from the Lloyd’s market
  • Accident & Health, Property and Casualty claims handled through our dedicated claims management center in the Milton Keynes, U.K. office

Benefits

  • Ability to access a flexible resource for peak time overflow, new product lines while internally building resource, or a desire to reduce fixed costs
  • Enhances the reputation of the Lloyd’s Market for fast and fair claims handling and establishes claims as a source of competitive advantage for the market
  • Faster settlement times that will lead to lower indemnity spend and faster reserve releases
  • Allows managing agents to focus scarce claims resource on more complex claims where real value can be added
  • A clear culture of claims ownership through to resolution of the claims
  • Better management information at no extra cost and potential for data to be used for bench marking and trend analysis
  • Reduced point of contact for brokers with better communication and improved settlement times for their clients

Contacts

Richard Day
Head of Lloyd's and London Market
T: +44 (0) 20 7265 4014
Richard.day@crawco.co.uk