Mike Mackenzie, Pro Global Head of UK Specialty Claims, shines the spotlight on how local authorities and public sector bodies can save money for the public purse by streamlining their insurance claims processes
Having the right insurance in place helps the public sector deliver services more efficiently, and provides resilience to this pillar of our economy. However, the public sector insurance environment is complex, covering multiple liabilities and claims management processes can be costly and time consuming.
And unlike central government, local authorities can’t rely on the strength of the public sector balance sheet to finance insurance and insurance claims – they instead work independently to manage the risks and liabilities they face, relying on the insurance sector for resilience and support.
Strong controls and efficient processes are therefore essential for public sector bodies and local authorities to maximise the benefits of existing insurance arrangements to avoid unnecessary financial losses, or higher costs related to delays to claims for instance.
Public sector squeeze
The public sector is facing funding cuts and squeezes across the board, sharpening everyones’ focus on driving operational efficiencies. However, this process in itself can often represent a significant challenge and drain on resources across many Public Sector disciplines – this is because the market is fragmented, creating risks, disconnect, duplication of effort and inefficiencies.
Actually achieving efficient claims management in this scenario of complexity and fragmentation requires an innovative approach to ensure costs are managed effectively, overall spend is controlled and outcomes add tangible value.
Then there is the challenge of handling data. Cyber, data security and other emerging risks create a significant challenge for public sector disciplines, and a lack of a robust digital strategy will undermine effective risk management.
So what is the solution?
Clearly there is a strong need for an integrated public sector claims management platform presenting a single version of the truth; offering reduced duplication; efficiency through automation and cyber security.
It’s much easier to say that than to successfully achieve this, particularly in-house with an already overstretched team! But the team at Pro are here to help – our claims management platform is backed by our dedicated team of insurance claims experts.
Secure by default, the claims management technology we deploy reduces the need for sensitive materials to be shared outside of a secure domain, while providing automation and enhanced data insights for users to help augment decision-making.
At the same time, our experienced and dedicated team have worked across the insurance sector transforming claims management processes for decades and are on hand to support untangling the complexity of public sector insurance claims while saving money for the public purse.
Find out about our innovative approach to ensure public sector claims costs are managed effectively, overall spend is controlled and outcomes add tangible value. Visit our Public Sector page