RSA has partnered up with Validus to use its Verify portal in order to accelerate its claim resolution times.
The decision to adopt Verify has been taken after a successful three month pilot undertaken by RSA. The insurer says that the portal presents an opportunity to both accelerate liability decisions and reduce time to recover subrogated losses.
It added that the market is “inefficient” in its current state as it requires multiple phone and post exchanges between large insurers with complex business structures and challenges. RSA said that using Verify would help reduce the unnecessary frictional costs between insurers and reduce time to settle claims.
“This more streamlined approach is a great benefit for all insurers and customers as it simplifies the over processing of claims decisions,” said the company in a statement.
Ian Currie, the motor and injury claims director at RSA said: “We are excited about the prospects of working with Validus. We are looking to partner with insurers across all subrogation tool platforms as we believe there is a great opportunity to accelerate the resolution of claims across the market.
“The new tool enables us to interact with other insurers more efficiently – ultimately helping our customers This is a great step forward for the whole industry.”