Claims
Catlin continues to be an acknowledged leader in claims management.
Catlin’s claims philosophy is to protect the interests of policyholders through the handling of claims swiftly and fairly. Catlin believes that this philosophy best serves policyholders as well as Catlin itself.
Whilst many other insurance carriers operate their claims functions on a stand-alone basis, Catlin believes one of its key differentiators is the integration of its claims management staff with underwriting and actuarial functions. Working in parallel leads to shared information and insight, which benefits policyholders.
Recognising that effective claims management attracts and retains profitable client relationships; Catlin focuses its claims services around the following principles:
- Advisor management – procuring the best outcomes through the management of long-term relationships with outside advisors, including claims adjusters and attorneys;
- Case management – adopting a proportionate approach to those issues which matter most, peer review and adherence to management philosophies and procedures to achieve outstanding outcomes and reserve accuracy;
- Service – adopting behaviours and attitudes to attract and retain business through service excellence;
- Process discipline – designing proportionate processes to enable both flexibility and control of risk; and
- Continuous development – continually improving staff skills and knowledge through personal, technical and legal training.
Catlin’s claims capabilities are organised with claims teams in each underwriting hub worldwide. These teams report to the Group Claims Director, and the claims professionals within each underwriting hub adhere to an agreed set of Catlin core practices and philosophies.
In most instances the Group outsources the handling of high-volume, low-value claims, subject to rigid service standards. Large, volatile claims are handled by Catlin’s own staff.
Catlin’s London continues to be win accolades for its high levels of service.
Catlin once again was ranked as providing the highest-quality claims services in the London market, according to the full-year 2009 results of the Gracechurch Claims Monitor, the largest independent survey of London claims brokers. Catlin has consistently ranked as on top in each of Gracechurch’s claims surveys beginning in 2007. Among the 201 claims brokers interviewed by Gracechurch during 2009, 31 per cent said that they would highly recommend Catlin to their clients based on the quality of claims service offered. That is more than double the performance of any other London market insurer.
Gracechurch says: “Catlin’s claims team has exceptional service performance an is the clear market leader in terms of recommendation. Catlin strengths: professionalism, size of team, availability and speed of service.”
Catlin's also was named ‘Claims Team of the Year’ in the 2009 London Market Awards sponsored by the daily insurance newspaper Insurance Day.