Claims Leakage

Household claims leakage

While insurers have invested considerable time and effort in controlling motor repair costs, the cost of household insurance claims has often been neglected in comparison.

In CWMC’s experience, insurers are missing the opportunity to save between 20% and 30% of their household claims handling costs through:

Increased training of claims handlers, many of whom have no experience of home ownership themselves
Tighter controls on repair specification and rectification costs
Better identification of fraudulent or inflated claims
A greater focus on identifying and pursuing recoveries
More efficient claims handling practices
Use of specialist technology tools and rules-based settlements
Reimbursement of VAT only on production of a receipt for completed works

CWMC can audit your household claims files to give you a true picture of claims leakage and recommend process improvements that enable you to not only make significant cost-savings but also improve levels of customer service - the second most important factor after price in choice of insurer.