Vero Insurance, part of Suncorp New Zealand, has partnered with CoreLogic to implement Symbility Solutions, a platform that will automate the claims process, and improve the claims experience for customers.
Symbility is a data-driven, cloud-based claims assessment and management workflow solution that will benefit all participants in Vero’s claims process - the insurer, its supplier networks and the policyholder.
“Major events like the Kaikoura and Canterbury earthquakes have shown how vital insurance is for safeguarding New Zealanders homes and financial wellbeing,” said Jimmy Higgins, Executive General Manager for Claims at Vero.
“We’re committed to being there in the moments that matter, to get our customers’ homes repaired as quickly as possible and Symbility will help us achieve this.”
Insurance Solutions Director at Corelogic, Richard Deakin, said Symbility integrates completely into an insurer’s existing system to create a single source of truth for a claim throughout the entire process.
“From first notice of loss, to the assessment process to remediation, Symbility vastly improves efficiencies and delivers a better outcome for customers who need to make a claim on their house insurance,” said Mr Deakin.
“Often the biggest cause of frustration amongst policyholders is not knowing where the claim is at or what the outcome is likely to be, something often remembered very clearly at renewal time. Symbility turns this all on its head, instead offering full visibility of the claim to all participants.”
Jimmy Higgins said Vero was looking for a solution that was easy to use but that also allowed assessment and pricing accuracy, improved management of the claims process, reduced revisits and variations.
“We trialled Symbility and were delighted with the way it improved outcomes for our customers, so we’re looking forward to seeing the very real benefits it will have for our claims handling process, and for our customers.”
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Suncorp Group Limited (Suncorp) today announced that its wholly owned subsidiary, Vero Insurance New Zealand Limited (Vero NZ), had successfully acquired 11.14% of the ordinary shares in Tower Limited in New Zealand (Tower), and is standing in the market to acquire up to 19.9% of the shares in Tower.