Motor Recovery Project – A RiiG Limited Case Study
A top 10 UK general insurer had a shortfall in subrogated recoveries. The insurer was using an outsourced facility, but one which extended only to claims where liability was not disputed. Any claims subject to a liability dispute were returned to the insurer to be dealt with by its Business As Usual team. The insurer was not party to RIPE.
There was concern that under the existing agreement, insufficient focus was being given to recoveries and the insurer reached out to RiiG Limited.
Over 4,000 claims were identified by the insurer for review between mid-September and the end of the year. The insurer notionally targeted a minimum of £1m to be recovered from a percentage of these cases during this period.
RiiG Limited’s Response
An initial one-man consultative investigation, lasting four weeks was undertaken to identify the prospects of recoveries.
A team of four handlers was then deployed; this was increased or decreased as circumstances dictated to pursue the recoveries over the remaining 11-week project.
During the project, the RiiG Limited team conducted a review of all 4,000 cases and identified those cases which fell within the project’s pre-agreed parameters.
Recoveries were achieved on nearly 800 claims, representing 19% of the original case load.
These claims had a total value of just over £2.6m and a total of £1.4m was recovered by RiiG Limited by the end of the project. In addition, the remaining files were worked and progressed as far as possible towards settlement, with further recoveries anticipated in due course.
The project was deemed a great success. The insurer requested that RiiG Limited commence a further project and also asked RiiG Limited to train the client’s own employees, who were to then to set up a designated recovery team.
|Published: Wednesday, 3 February 2016
||Categorised as: Case Study