
Crawford & Co has launched of an automated claims settlement system for the UK livestock market.
Aviva and H&H Insurance Brokers have already begun using the system, which is fully customisable and promises to cut the full claims cycle down from weeks to minutes.
It is designed for high volume livestock losses and offers users a fully automated experience, from first notification of loss through to payment of a valid claim and production of all relevant documentation.
Users submit information on the location, peril and animal type, as well as relevant documentation, including animal passports, fallen stock removal details, and salvage information.
The system then uses artificial intelligence and algorithms to assess the validity of a claim and, where appropriate, instantly approves settlement directly with the policyholder.
Crawford said the system also features a range of security measures to detect and manage fraudulent activity.
Max Perris, agricultural consultant at Crawford and product lead, said: “Through enhanced automation of livestock claims we can deliver significant savings to our clients, greatly reducing resource demand on adjusters, and providing a faster and much more efficient settlement process for policyholders by applying our digital capabilities to simplify every stage in the process.”
Stuart Torrance, claims manager at H&H Insurance Brokers, an early adopter of the new system planning to launch for clients after an initial trial period, added: “The management of livestock in the UK is a much more technology driven, data led operation than ever before.
“Automated claims solutions for livestock-related losses are therefore a natural evolution in how the insurance industry manages these and we are able to enhance our customer service offering by introducing Crawford’s automated settlement system.”
Patrick Dickinson, motor technical consultant at Aviva, commented “Aviva is excited to work with Crawford & Company on a new livestock valuation tool which will help our specialist agricultural claims handlers provide fast and fair claims settlements for our customers and reduce overall claims costs.”
Paul Lofkin, head of agriculture at Crawford, said there is “huge potential” in the sector for the wider introduction of automated claims settlement: “These systems not only introduce much greater efficiency, speed and cost effectiveness, but also deliver a data rich environment that insurers and brokers can capitalise on to analyse trends and developments at both regional and portfolio levels.
“This is only the first step of our strategic plan to continue to develop new innovations that will disrupt traditional claims handling methods and provide our clients with improved service at a vastly reduced cost.”