Renasa’s recently launched IT module.
FAIRFIGHT combines scientific underwriting and systemised claims cost control to allow independent intermediaries to meet direct insurers on equal terms while remaining independent. The module is therefore available to intermediaries operating on all major independent policy and claims administration systems and several platforms as well including all those whose logos appear below.
FAIRFIGHT comprises the tools which are essential for the maintainance of competitiveness by independent intermediaries in their competition with direct insurers. FAIRFIGHT provides independent intermediaries with the benefit of competitive pricing on a sustainable basis. FAIRFIGHT operates in an environment of independent policy and claims administration thereby allowing intermediaries to remain independent while operating with the necessary tools. These are the tools which make the fight fair.
FAIRFIGHT:
- Allows Intermediaries to administer their clients’ policies on independent systems;
- Provides scientifically underwritten prices on these independent systems by:
- Regular extract of data from interdediaries’ systems to analyse experience and rate scientifically; and
- Integration of Renasa’s dynamic rating engine into the intermediary systems to ensure regular update of rates as these are refined by the rating engine;
- Provides systemised claims cost control while leaving intermediaries free to control or monitor the claims settlement process so that efficient service of insured clients is preserved. The module allows:
- Claims to be intimated and claims bordereaux to be generated on the independent systems of intermediaries;
- The workflow of claims settlement to be managed by Renasa which is equipped to deliver the benefits of scale, including:
- Efficient assessing;
- Efficient repair;
- Efficient audit of repair costs to achieve consistent claims cost proficiency;
- Efficient salvage control;
- Efficient procurement;
- Efficient third party recoveries; and
- Efficient third party defences.
|
