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The Claims Lifecycle: Gallagher Bassett’s Industry Leading Approach

28 April 2022

John White, Partnership Manager at Gallagher Bassett Australia discusses Gallagher Bassett’s unparalleled experience and approach to supporting insurers with complex claims portfolios. Q: GB has a proven track record of reducing the average cost of liability claims for clients. Can you tell us the approach GB takes to reduce average claims costs? John White (JW): … Continued

Leveraging Technology and Innovation to Accelerate the Claims Lifecycle

28 March 2022

To avoid shortcuts, many across the industry are welcoming the advancement of intelligent claims technology and data-driven tools solutions. Despite insurers’ delayed adoption of new technologies, for those wishing to see accelerated claim lifecycles and get ahead, combining the power of technology and innovation with human insight may just be the winning formula. Together, predictive … Continued

How to Restore Customer Faith in Insurance Post-Pandemic

28 March 2022

Light is now on the horizon for the industry at large, as most insurers anticipate an accelerating economic recovery and additional technology investments in 2022. To capitalise on the opportunities at play, underwriting agencies will need to be nimbler, work faster and make customer service their top priority in the new year.   Read on for … Continued

How Insurers Can Pivot Beyond the Pandemic

22 February 2022

Gallagher Bassett’s Partnership Manager, John White, reflects on the volatility of the past 18 months and shares his key learnings to help insurers forge a strong path forward.   “Even before the pandemic, the insurance industry was ripe for disruption. With changing legislation and new players entering the market, the pandemic acted as a catalyst for … Continued

The Importance of Partner Sourcing to Unlock Growth 

22 February 2022

From changing legislation to industry operations, sourcing the right partner for your business has never been a more essential strategy for improving operational efficiencies, developing talent, and unlocking growth potential.   One thing that is for certain, is that trends, both local and global, will continue to reshape business operations across every corner of the … Continued

Award-Winning Innovation: Introducing Gallagher Bassett’s Health and Wellbeing Hub

4 February 2022

To help employers address this challenge, we’ve developed a tailored Health and Wellbeing Hub, which empowers businesses and employees to take charge of their mental and physical health.   This platform helps your employees make time for proactive and preventative care to support them to bring their best selves to, and from, the office.   Recognising that … Continued

KEY WORKFORCE PERFORMANCE TRENDS TO WATCH IN 2022

4 February 2022

The transition to a remote workplace against a backdrop of new and evolving financial, political, regulatory, technological and climate-related risks will create a ‘sink or swim’ scenario for organisations and a flow-on effect on their employee engagement and performance. Employers who can ‘swim’ will create high-performing workplaces, resilient employees and safe work environments. Read on … Continued

PROTECTING YOUR WORKFORCE AS THEY RETURN TO THE SKIES

4 February 2022

While corporate travel is expected to have a slower return to normal than leisure, conferences, trade shows and meetings are starting to permeate calendars and schedules. There is only one thing left to plan: what happens when your employees find themselves in a cross-wind between restored liberty and the ever-changing border regulations? Read on to … Continued

THE BOTTOM-LINE KILLER: HOW TO REDUCE THE COST OF ABSENTEEISM

4 February 2022

We know for every day sooner an employee can return to the office, at least $578 in direct costs is saved. It is in everyone’s best interest if the injured worker’s workplace supports them to overcome injury – whether it physical or psychological – and return to work in a timely, safe and sustainable manner. … Continued

Making the Most of Virtual Mediation to Resolve Claims

19 January 2022

There’s no doubt mediation can be an effective tool for settling claims. However, until recently, online mediation was often discounted in the belief that discourse via video conference was not as effective as a face-to-face discussion. Although that may be true in some respects, the current environment has proven that online mediation can also work … Continued

Adding Value In 2022: How Partnered Claims Models Create Value for Insurers

19 January 2022

Third Party Claims Administrators (TPAs) help insurers, Government, corporations, and self-insured companies reduce their Total Cost of Risk (TCOR) and secure better outcomes for all involved. Commissioning a specialist team to handle your claims management process can reduce risk and offer a flexible and cost-effective way to respond to a backlog of claims due to reduced … Continued

How to transform your talent retention process

19 January 2022

From adapting to remote working and the frequent lockdowns of the recent past, complying with evolving State and Federal Government health regulations, and managing complex mental health issues, we’ve had to redefine what it means to ‘come to work.’  Despite the challenges this market poses for insurers, it also presents a tremendous opportunity to modernise … Continued

Change, recruitment and technology, a prediction of what’s on the horizon in 2022

3 December 2021

2021 was a year shaped by a challenging talent crunch, agile and evolving workforce, and cyber threats – with many organisations feeling the flow on effect on their growth and development. So, how do we wrap up the year that was and ensure 2022 is stronger? Here are the three trends we believe will shape … Continued

GB named on Insurance Business’s Five-Star Insurance Innovators list

2 December 2021

When the pandemic hit, we knew it would be immediately felt by insurers and that an innovative response was needed to alleviate these pressures. John White, Partnership Manager – Gallagher Bassett, said the award recognised how our team treats innovation as a core competency. “When the pandemic hit, we knew insurers could face an increase … Continued

Rain, hail or shine, how to resource surge season

2 December 2021

With the next catastrophic event possibly around the corner, it’s critical insurers have an adequate, flexible and effective team on their side to manage claimant demands. The surge season ahead of us unlikely to be an easy one, with issues surrounding talent retention and recruitment, and claimant demands and needs skyrocketing, there is a perfect … Continued

What actions insurers can take to address workforce participation

22 October 2021

As we begin to make our way through recovery, its critical for insurers to address how they can shape an improvement in retention, participation and employment within their own organisations. Starting to address these challenging trends must start at home, as we’ve seen this trend really impact insurers over the past 18 months. Our team … Continued

How to minimise the effects of surge season with the right talent

22 October 2021

As we head into a new season, property insurers must ready themselves for a spike in complex claims that require highly skilled and experienced loss adjusters and claims managers to manage the volatility of claim surges. We know from decades of experience managing these surge events that this spike will likely see a similar rise … Continued

How data intersects with operational health for stronger claims outcomes

27 September 2021

Jon Winsbury, Executive Vice President – Gallagher Bassett, talks to how insurers can leverage the talent in their business through use of technology. Everyone in the industry knows that bringing a claim to resolution often relies on timely access to medical care, and for more complex or contentious claims, the court systems. This is where … Continued

Why telehealth is here to stay

27 September 2021

Jon Stambaugh, Senior Vice President – Carrier Practice North America, and Jennifer Cogbill, Vice President of GBCare Advisor Team North America, explore this trend and what it means for insurers. Q:          How did the rise of telehealth happen in 2020? Jon:      At GB, we saw a 15% increase in telehealth-related medical bills in the first … Continued

How to effectively accelerate the claims lifecycle

27 September 2021

Through partnering these two factors, insurers can accelerate the claims lifecycle and see a return on their investment. The many factors that influence a claim’s lifecycle – such as severity, complexity, likelihood for litigation – can be effectively predicted by analytic tools that can then feed into a claim professional’s informed judgement on a file. … Continued

In conversation with Kyle Loades: The one factor you can’t survive change without

27 September 2021

John White, Gallagher Bassett Partnerships Manager, covered a variety of topics and audience questions with Kyle and has recapped his key takeaways below.   One of the many wise words Kyle shared with our audience that has really resonated with me was his identification of the critical component that will shape each and every one … Continued

Sneak peek: interview with transformational leader Kyle Loades

24 August 2021

As a reader of Insurer Insights, you get a preview of what Kyle and John will discuss. Make sure you register today to get access to the live webinar on September 7 at 1pm (AEST). John White (JW):       Kyle, what do you see as the biggest future challenges facing Australian companies? Kyle Loades (KL):       Companies … Continued

How insurers can combat the labour and materials crisis

24 August 2021

This pressure has flowed on to insurers seeking to finalise repairs after surge events, who are experiencing a shortage of trades and delays in materials, compounded by COVID restrictions and border closures. What are the contributing factors influencing this crisis? The record low interest rates and government incentives for renovators and new homeowners has seen … Continued

One size fits none: Making the right decisions to get more value from partnered models

24 August 2021

From reducing risk by leveraging specialist expertise, to enhancing profitability during surge periods by having additional people power where and when it’s needed, outsourcing presents a powerful tool. For John McNamara, Gallagher Bassett Australia’s Chief Executive Officer, reliably unlocking the full value of partnered claims solutions calls for creating a unique relationship that respects the … Continued

What insurance carriers can learn from construction catastrophes

26 July 2021

When it comes to the liability and risk of construction projects, companies must consider not just the initial build quality but future-proofing actions to protect developments from natural catastrophes and project failures. From managing premium increases to changing risk profiles, there are some learnings for insurance carriers to ensure they are not left in the … Continued

How TPA partnered models unlock capital and foster carrier growth

15 July 2021

Partnering with a TPA that already has access to industry-leading technology, talent and an insightful view of regulatory requirements can unlock opportunities your business may otherwise not have been able to realise. When it comes to traditional insurance carriers with on-going/live portfolios, there is more pressure to prioritise the deployment of capital and fuel innovation, … Continued

How partnering with a TPA helps carriers meet regulatory obligations

15 July 2021

There is no denying that increasing compliance pressures and numerous (and often frequent) regulatory changes can be some of the biggest challenges faced by the insurance industry. A successful risk and compliance-focused culture and framework, however, can require years of development and numerous resources. Ongoing maintenance is essential; as is ensuring the appointment of a … Continued

People first, process second: A winning formula for COVID-19 response

15 July 2021

Though the response varies in approach and severity for every industry and location, the insurance industry hosted the eyes of the globe as the one to watch – if any industry ought to know how to manage a crisis event, it was insurance. Knowing the need for compassion and care for what their carriers and … Continued

It’s time for employers to consider change

11 June 2021

Why? Because of the prevalence of full time employees who have reported they have experienced symptoms of a mental health condition at work. This means the vast majority of your team has likely come to work experiencing signs and symptoms such as feeling sad or down, confused thinking, reduced ability to concentrate, excessive fears or … Continued

Four challenges we’ve helped clients overcome in the past year

11 June 2021

1. Unexpected changes to severity and claim frequency Just as the insurer industry adjusted to the spike in workers’ compensation and casualty claims from the COVID-19 pandemic, we started to see changes in the severity of auto, travel, and business interruption claims. As a worrying trend in high-speed, high-impact crashes coincided with economic downturns and … Continued

How to drive better claim outcomes utilising performance metrics and data

11 June 2021

Most insurers have two answers to this question: legacy infrastructure is hamstringing their best intentions and it’s difficult to fund rapid technological innovation. So, how can insurers overcome this? 1. Define what data matters to you In a world of increasingly available information and content, there are plenty of data points insurers can pull on … Continued

The challenges and opportunities of virtual management of medical claims

12 May 2021

Prior to 2020, the term ‘telehealth’ was rarely used. Australians were used to travelling extensively for medical care, taking time off work to attend appointments and being restricted to the medical experts they could reasonably access in their local area. The COVID-19 pandemic saw medical service providers embrace ‘telehealth’ options (appointments conducted using voice or … Continued

Returning to the skies: How travel insurance will look different in 2021

12 May 2021

It’s been a difficult year for the insurance industry, but the travel insurance sector has no doubt been one of the hardest hit. The global and local lockdowns have had a significant impact and triggered a spike in claims, disputes, disrupted travel plans and policy interpretation. Now majority of claims have been processed, the limited … Continued

Industry expert appointed to Gallagher Bassett team

12 May 2021

Based in Brisbane, John brings 25 years of sales and operational management experience across Credit Union Australia, Allianz Partners and RACQ. “When I was looking for my next challenge, I wanted to work with a company who was focused on delivering excellence and solutions that impact the future of our industry,” Mr White said. “Gallagher … Continued

How to make best practice underwriting decisions

7 May 2021

While many underwriters and actuaries are expected to have a crystal ball to help them review new and existing business, we share our advice on critical items to consider. Unfortunately, no such crystal ball exists, but there are a few simple processes we can all follow to make best practice underwriting decisions. 1. A customer-centric … Continued

How to partner the right people with the right technology

7 May 2021

But the implementation of such insurtech platforms is hamstrung if organisations don’t have the right people and right experience on hand. It should come as no surprise that automated systems and artificial intelligence (AI) are increasingly taking over the workforce. From self-service grocery checkouts to smartbot chat integrations that tempt shoppers with additional items or … Continued

Global spotlight: How to embrace the post-pandemic era of settlements

7 May 2021

To make matters worse, the inability to source a COVID-19 safe jury and adjust court processes to meet virtual demands has meant the wait for a jury ticket is ever-increasing. Carriers can take back control of this process by engaging in strategic litigation and settlement processes, with our team of experts sharing their top tips. … Continued

What the FCA case means for global policies

12 April 2021

While those of us in the insurance industry believe this isn’t true, we still have significant work ahead of us to overcome this perception and offer trusted, well-received and comprehended policies. The recent Financial Conduct Authority (FCA) case in the United Kingdom brought this issue to light again, with the Court’s comments making it clear … Continued

Gallagher Bassett expands global presence in Asia-Pacific

9 April 2021

Based in Singapore, Mr Wong will lead Gallagher Bassett’s expansion of risk and claims solutions across the region and the deployment of tailored client solutions to its existing global, regional and Asia-Pacific clientele. “We are witnessing a rapidly changing world, from market hardening, rising cost of risk, distribution and underwriting, and shifts to employment and … Continued

Transferring knowledge in the digital age

9 April 2021

As many knowledgeable professionals plan to retire out of the industry, we expect the industry might see up to a 40% shortfall of suitable talent. So, why is this shortfall growing? Simply put, insurance is not trendy or attractive to new recruits. Carriers are unable to draw in new, motivated and ambitious talent who are … Continued

How to make the right insurtech investments

9 April 2021

As we all moved online to claim, assess, and manage our internal and external stakeholders, insurtech providers rapidly shifted to take advantage of our newfound digital dependence. We believe this rapid acceleration has meant insurtech is close to the inevitable saturation limit that comes with major technology adoption. Just like cars, televisions, and computers now … Continued

How to set your people management processes up for success

10 March 2021

However, those who have fallen behind and failed to change may be exposed to even more challenges as some regions shift to a hybrid home/office environment. In regions such as Australia and New Zealand, where COVID-19 case numbers are relatively low, many workplaces are returning to an office environment. However, this path has not been … Continued

Webinar recap: Understanding the True Cost of Claims

10 March 2021

It’s critical carriers understand the true cost of claims, so they retain customers, lower expenses, and make processes fit for purpose. We now operate in a highly competitive market with only a few, very narrow, differentiators between insurers: claims handling, reputation, and process. We know the claim department and its services are the heartbeat of … Continued

Recruiting Quality Talent for Surge Events

8 March 2021

With talent pools vanishing and quality personnel seeking long-term employment, Gallagher Bassett’s Stacey Williams – Chief Client Officer, Australia – explains how carriers can overcome these challenges to deliver better claims outcomes and talent retention. Over the many years Gallagher Bassett has provided claims management, we’ve learnt a few things about how to handle the … Continued

How the UK’s Financial Conduct Authority case will have global ramifications 

12 February 2021

The Supreme Court of the United Kingdom recently ruled in favour of policyholders required to close as a result of government lockdowns, with costly and wide-reaching ramifications likely for the carrier industry. We knew early in the pandemic that the fallout of COVID-19 would cause considerable change in claims trends and risk exposure in the … Continued

Disrupting the Social Inflation Cycle

12 February 2021

This phenomenon is casting a heavy influence on many outcomes and costs across the global carrier industry and has no easy solution. While the factors that contribute to Social Inflation (SI) are certainly not new, the true impact of the SI cycle is not well understood by many in the industry. So, let’s start at … Continued

Webinar recap: Surge Response – Harness Your Bench Strength and Improve Service Outcomes 

12 February 2021

“Mother nature doesn’t care about COVID”, said Winsbury. “It’s never ending, and it never stops.” “We’ve seen a variety of insurable events – catastrophes, weather events, travel interruptions, volcanic eruptions, fuel contamination events, recessions, even the collapse of major insurers. “And we’re seeing rising insurance costs due to the ever-increasing footprint of us as humans. … Continued

Webinar Recap: Innovate to Meet Evolving Customer Expectations

18 January 2021

In November, our Chief Executive Officer- North America, Mike Hessling, led the latest webinar in our Opportunities and Outcomes series, ‘Innovate to Meet Evolving Customer Expectations and Deliver Improved Outcomes’. Along with our Carrier Practice Leadership team, he shared his thoughts on how carriers can improve the client experience while taking control of the total … Continued

Global spotlight: What we’ve learnt from La Niñas and El Niños

18 January 2021

Scott Newland, General Manager – Government and Long-Tail Claims, has worked through many of these severe weather events and shared his top tips for carriers. Q) What do we typically see during a La Niña or El Niño event? Scott Newland (SN) Typically for an El Niño we see an increased risk for widespread, damaging … Continued

The New Virtual Normal

18 January 2021

Here are our top tips for performing in a challenging, changing and virtual insurance landscape. Put a face to the name Virtual does not have to mean you lose the chance to connect with your team and customers. Many workplace cultures were shaken by the rapid shift to working from home and both new starters … Continued

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