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The largest claims management organisation in France
As the core business of the mutual insurance companies having joined the SGAM, claims management was the first co-operation project within Covéa.
Today, Covéa AIS (Assistance, Compensation, Services) manages the claims files of GMF, MAAF and MMA and their partners as part of a pragmatic organisation, in which the two principal objectives are improving services and controlling costs, with direct benefits for the policy-holders: providing enhanced services and keeping tariffs attractive.
It constitutes the largest claims management organisation in France :
- Nearly 20% of the market share, in property and liability insurance
- 4 million claims managed per annum (including 2 million in Car insurance)
- 4,500 employees.
Inventing the future
Reconciling the requirements of cross-functionality, performance and legibility, the structure dedicated to claims management has shown how effective it can be. 95% of its teams work for their own brand name, the others in three Performance Poles: car and material injury claims, material, fire and casualty insurance claims (IRD) and bodily injury claims. These poles manage the common policies and the unified networks of suppliers and carry out growth experiments.
Covéa AIS pursues its strategy in 4 directions (the "4 S") :
• Style of compensation: dispatching, lead-times, initiatives and skills to improve customer loyalty,
• Solidarity with the networks: using the settlement of a claim to obtain further knowledge about customers in order to optimise the response to their needs,
• Slenderness of costs: switching from a rationale based on settlements to managing total loss experience by developing a new concept: Expected Performance compared with Observed Performance,
• Science of Claims: identifying new levers to control costs and quantify the parameters involved in claims, for a finer approach of risks and customers.
It has several major assets :
- its size,
- quality portfolios,
- centralised management on telephone platforms,
- FIDELIA, a proper assistance company within the Group,
- a large number of performance accelerators such as the Internet, Electronic Document Management (EDM) and remote damage surveys (RDS).
Activity 2010 : a bad year for claims
In 2010, all the Group companies suffered from an increase in claims costs for all forms of residential multi-risk coverage. This spike was mainly due to forces of nature. For example, the Xynthia storm sparked completely unpredictable seawater flooding. It led to a gross claims burden higher than the burden of total claims linked to wind damage, despite the fact that ten fewer case files were opened.
Flooding in the Var region and following Xynthia accounted for only 11% of case files, yet 65% of the "natural events" claims burden in IRD. In total, Covéa paid out 221 million euros in services to victims in Xynthia's wake.
Total compensation linked to the climatic events for all Covéa brands stood at 354 million euros (before reinsurance) for over 100,000 claims.
« Its innovative strategy makes Covéa AIS a benchmark on the market. By integrating Assistance, Compensation and Services, it has overhauled the settlement of claims in France with a major asset: its 20% market share as a springboard to design breakthrough scenarios. »
Michel Gougnard, Executive Vice-president of Covéa AIS, Chairman of Fidélia.
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