Insurance Business Review: Specials Magazine

Queensland’s natural wonders define its identity, but its residents know all too well that living in this region comes with seasonal challenges like hailstorms. These events test the resilience of homeowners and communities as they rally to restore and rebuild. For many property owners, however, the most daunting task isn’t physical repairs but navigating the complexities of insurance claims, where resilience takes a different form. Storm Support Services—an independent intermediary and end-to-end claims management firm—offers a lifeline in these moments. It provides free damage inspections, takes charge of the entire claims process on the property owner’s behalf and connects them to licensed, vetted builders across Queensland to carry out repairs. “We focus on recent cases, generally within the last year, but we can backdate claims if necessary. From there, we manage the claim entirely and even cover the client’s excess up to a certain amount, allowing property owners to focus on recovery rather than unexpected expenses,” says Max Sollmer, general manager. This commitment to client-centricity, combined with over a decade of expertise in insurance product disclosure statements, Insurance Council of Australia guidelines and relevant legislation, has made Storm Support Services the go-to partner for Queenslanders recovering from storm impacts. A Helping Hand When You Need It Most Hailstorms hit hard, but insurance red tape hits harder. Once the skies clear, claims for hail damage are often denied, with insurers frequently citing insufficient evidence or disputing that the damage doesn’t meet their criteria. This issue has become increasingly common, especially during quieter storm seasons with fewer major hail events. ... Read More

“Life is what happens to us while we are making other plans.” This quote by Allen Saunders encapsulates the plethora of unanticipated uncertainties that loom big in people’s lives. When we consider the dangers that may befall us in today’s world, we realize how vital the insurance sector is. Against the backdrop of the global pandemic and volatile economy, insurance businesses are readily harnessing the benefits of InsurTech. The continuous evolution of the InsurTech sector is marked by the entry of new players with cutting-edge technology in the insurance market. Further, the commercial application of tech has not only created umpteen opportunities but also rendered solutions to friction and pain points in the customer experience. This is where Proclaim, a claim management specialist company, comes into the picture with a progressive model coupled with claim analytics solutions. Based in Melbourne, Australia, the company outsources claim management services across all lines of general commercial insurance to two main classes of clients – first, self insured larger companies like Property Trusts and large retailers (corporate), and insurance companies and their underwriting agents (insurance). Proclaim pulls unstructured data into a coherent package by leveraging data analytics, enabling clients to interrogate their claim portfolio performance. The data analytics can also reveal the claims profile to the insured and collect a wide range of information to assure a better understanding of the risk, including types of damage or injuries experienced causes and locations by state. Proclaim uses Microsoft Power BI to provide clients with superior insights into their claim and risk portfolio through data visualization. ... Read More