indemnis Implements ISO Claims Outcome Advisor to Differentiate from Competitors in Handling UK Motor Claims
JERSEY CITY, N.J. and LONDON, U.K., January 28, 2019 — Verisk (Nasdaq:VRSK), a leading global data analytics provider, has today announced that UK third-party claims administrator indemnis has successfully deployed ISO Claims Outcome Advisor® (COA™) and the MoJ application-to-application interface for its UK customers. indemnis handles UK motor claims for companies, including a leading Danish insurer.
By implementing Verisk automation technology, indemnis can streamline claims handling and generate financial savings for its customers. COA advanced analytics support and enhance the expertise of claims-handling staff by helping them control claims spend and providing detailed performance monitoring.
ISO Claims Outcome Advisor is the industry’s leading personal injury claims-handling solution and provides a unique level of “know your opponent” analytics to help reduce life cycles and limit overvaluation of claims ranging from £1,000 to £25,000. The MoJ application-to-application system provides indemnis with a proven interface with the Ministry of Justice process, allowing users to settle claims without exiting the COA portal.
“As the claims-handling market becomes increasingly competitive, advanced technology solutions such as COA will allow third-party administrators to stand out from the crowd with a compelling service offering,” said Joe Pendle, managing director of Verisk claims. “The fast and effective deployment of COA for indemnis is testament to our first-class support, combining expert project management with close collaboration from our first contact through end-user training and ongoing customer support.”
Verisk has provided indemnis with extensive project support and collaboration, delivering remote training, system market calibration, and on-site demonstrations to ensure a smooth deployment. The solution is fully scalable, capable of evolving in line with ongoing indemnis business growth in the UK.
“At indemnis, we look to supplement the extensive industry experience of our claims handlers with advanced technology that will deliver strong ROI,” said Stephen Mullen, managing director of indemnis. “Deploying ISO Claims Outcome Advisor at the start of business operations has allowed employees to benefit immediately from a best-of-breed solution. The unique analytics delivered by COA offers indemnis a clear competitive differentiator and technical advantage over rival third-party administrators, evidenced by glowing feedback from our customers.”
indemnis is an IT led Third Party Administrator acting for Insurers and Managing General Agents, providing an outsourced claim handling service within the Commercial Motor Market. Combining its own innovative, inhouse claims handling system with best-in-breed open market technology and value adding partners allows indemnis to produce market leading claim outcomes on behalf of their clients. indemnis invests significantly in its people, recognising technical claims experience must be at the highest level to fully complement and maximise the IT opportunities that exist within the claims handling process.
Located in Glasgow, indemnis recently relocated to larger offices in the centre of Glasgow Business District to allow for continued growth and new client acquisitions. For more information, please visit www.indemnis.co.uk.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index. In 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.
For more information, contact:
Simon Woolley, IBA – PR for Verisk
Tel: 01572 757932