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Tuesday, August 1, 2000
Broker partner

Mutual & Federal says it is keen to work in partnership with “all sections of the broker community” in the emerging e-business environment. A test phase covering claims information is currently being conducted with the help of a range of intermediaries, from large, nationally based operations to small, locally focused brokers.
The pilot system gives test-phase brokers access to sections of the insurer’s web-site, enabling them to check the status of certain claims made by their clients. This is the first stage of the company’s initiative to improving communications with brokers.
Jonathan Golding, AGM, E-Business, notes that the system is ‘scaleable’, meaning for example, that any future business development, such as the acquisition of CGU, can be anticipated and included in the overall scheme without dificulty.
“Brokers will use such systems because they see benefits for themselves and the consumer in terms of service quality, speed and efficiency,” he observes.
Indeed, the emphasis on e-business claims management goes to the heart of Mutual & Federal’s business. “The company pays out more than R2 billion in claims a year,” he explains. “We handle more that 1 500 claims per working day, and estimate that four out of five claims of less than R5 000 are settled within 24 hours.
“For us, claims’ processing is a key core competency. So it was natural for our pilot phase to focus on our claims service. In due course other operational aspects will be incorporated into the e-business model.
“The potential for improved service efficiency is enormous. These become more significant when you factor in the potential for co-operation with our major local and global shareholders, Old Mutual and Royal & Sun Alliance.”

Copyright © Insurance Times and Investments® Vol:13.7 1st August, 2000
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