How SWG Prioritizes Effective Claims Reporting

October 27, 2021

In less than a decade, McKinsey & Company has forecasted that the leading claims organizations will combine and harness the best attributes of artificial and human intelligence to eliminate blind spots. (1) SWG's goal when handling claims is to offer the best technology and human expertise possible. That is why we joined forces with the International Programs Group (IPG), a third-party administration company that serves the London market within SCM Insurance Services.

With IPG, SWG makes better business decisions and can maximize efficiency. The best part is that this partnership directly benefits brokers and their clients. Read on to learn how working with IPG helps SWG's clients have a positive claim experience.

Stronger Together

As a member of the SCM network, and with a thorough knowledge of both the local and London markets, IPG can provide all the services that SWG clients require with regards to claims management and claims administration. Our offices in Vancouver, Toronto and Montreal are staffed with 70 examiners including senior specialty risk examiners who oversee high-end complex losses together with our experienced generalists. IPG also offers claims services in both English and French throughout Canada. In addition to experienced generalists, the team also includes over 100 employees who specialize in high-end complex losses.

Providing Informed and Thorough Claims Procedures with Diverse Expertise

With IPG's Third-Party Administrator (TPA) service, the most comprehensive network of adjusting firms in Canada is at your disposal. As part of its claims handling process, IPG also engages third-party professionals, including lawyers, engineers, contractors, and surveyors, to produce a refined and customized business environment.

In addition to domestic insurers, SWG represents a broad range of Lloyd's syndicates. Each of them has its own relationship with adjusters. IPG respects these existing relationships and works with them to ensure they comply with the requirements of the insurance companies and syndicates. Our brokerage team can tap into this partnership's wide range of expertise and experience to help our clients.

Prioritizing Accuracy while Driving Efficiency

South Western Group's fast claims process is beneficial to both the insured and the insurer. Thanks to IPG's claims management system, the process is even more efficient and accurate. IPG's claims management system is an end-to-end, user-friendly system that provides complete access to all program activities and information. Web-based and real-time, the IPG system can be accessed 24/7. Whenever necessary, IPG's robust IT infrastructure supports its employees working remotely. As a result, IPG is able to operate at full capacity and deliver services as usual to its clients. The IPG claims handling process even incorporates electronic funds transfer (EFT) in order to drive greater efficiency. Paper cheques are no longer required for payment issuance and delivery, which results in a reduction of wait times and cost savings.

In addition to the investment SWG is making on the underwriting management side, IPG's Claims Management system is able to provide valuable information regarding claims and risk management for our business. Hundreds of existing fields can be customized within IPG premade MI templates, and additional fields can be added to capture custom data. Opta Information Intelligence, IPG's sister company, provides predictive analytics and data management that helps SWG better understand business and claims risk.

By providing timely, efficient and proactive management of claims, SWG can administer payments quickly and ensure a smooth payment process. There are very few disputes, and when they do occur, they are resolved quickly.

Responsive Claims Handling Provides Peace of Mind to the Insured

Among IPG's claim management services are claims reporting, claims adjustment, financial tracking, quality assurance, and customer service initiatives. So, how simple is the claims process? Insureds have easy access to claims intake with SWG and IPG. Through automated notifications, IPG will keep the insured well informed on how their claim is being handled and what's happening throughout the entire insurance process. Customer notifications can be as detailed or as brief as the customer desires.

Following the broker's notification of a claim, IPG contacts all parties to discuss the best course of action. IPG oversees the entire claim process in order to ensure that there is no unnecessary delay in resolving any claims issues. IPG also pays indemnity and expense claims from its Trust Funds. IPG is strongly committed to providing both the best customer service and outstanding claims handling for the insured at all times.

Claim reporting services are available 24 hours a day, 7 days a week, for your convenience. There are several ways to report a claim:

Emergency Claims Services (ECS):

ECS is 7/24/365 staffed by licenced adjusters

Phone:

Call toll-free at 1-866-794-5463

Email:

Send all claims details to claims@swgins.com, please include the following information:

Insured Full Legal Name

Insured Contact Number

Policy Number

Brokerage Name

Brokerage Contact Name

Brokerage Contact Number

Description and comments for claim

Any supporting documents

Visit https://swgins.com/page/claims.html for more information.

Content is current as of the date of broadcast and is subject to change without notice.


Sources:

  1. https://www.mckinsey.com/industries/financial-services/our-insights/claims-2030-dream-or-reality