One of the main questions we hear from insureds when we are evaluating a claim is "I've got my laptop insured for $3,000, how come I'm getting a replacement worth $1,500? Why have I been paying a premium on $3,000 when the laptop's only worth $1,500?"

Whilst we are all aware that the sum insured is the insured's responsibility, too often we see a schedule of IT equipment where the sums insured continually reflect the purchase price year after year when the actual replacement cost is much less in most cases.

The IT Claims Services Sum Insured Review service allows insurers and/or intermediaries the ability to provide their clients with an accurate and up-to-date replacement value for their equipment. This can have the effect of reducing the client's premium and can be seen by the client as an additional service that actually benefits them financially.

Insurers and intermediaries are too often assumed to be finding ways to increase a client's premium. How nice it would be to provide them with a service that suggests a reduction in premium while providing them with an accurate and up-to-date replacement value for their equipment.

IT Claims Services will review your client's schedule of IT equipment and provide a report of the current replacement value.

Market & Indemnity Values

Sometimes customers or Third Parties in a liability claim just want to be cash settled.

We can provide detailed reports outlining the specifications, age and nearest equivalent models of IT equipment with a Indemnity Value (Cost of replacement less depreciation) or Market Value (selling price for similar equipment, specifications, age and condition).

Our core business is that of Third Party Claims Administration, operating on behalf of insurers in the investigation and settlement of their IT and electronic equipment claims.

Our experience in administering claims on behalf of insurers has resulted in a dramatic reduction in settlement costs for those insurers. This is principally due to the standard of claims personnel employed by IT Claims Services and our ability to negotiate set inspection and labor charges with repairers. We have also established wholesale relationships with manufacturers and their recommended suppliers for the supply of replacement equipment.

• We do not merely process a claim; we investigate its legitimacy and source the most cost effective and equitable resolution available.
• We do not blindly accept repair or replacement quotations provided by the client; in most instances we obtain additional quotations from both the original supplier and one alternative supplier.
• Preferred Suppliers will always be given the opportunity to beat any alternative quotation obtained.

As part of the service we provide to insurers when acting as their Third Party Claims Administrator we actively seek all forms of recovery available by way of salvage, dual insurance and negligent third parties.

Our purpose-built Claims Administration Database can be utilised to provide relevant claim statistics to the insurer. Being able to identify repeated loss scenarios and undesirable exposures is extremely useful in determining any required changes to underwriting guidelines and premium rates.

Our claims consultants liaise with the clients and develop an effective working relationship by displaying empathy and compassion while maintaining a professional attitude toward the settlement of the claim.

Our Claims Administration Service allows you to provide a professional service to claims where time may not permit you to!

We can:

• Send claim forms, record new claims and suggest the best information for customers to supply to enable their claim to be processed quickly.
• Notify the insurer of a possible claims.
• Appoint assessors where any authority allows us.
• Keep the client informed of the process and progress of their claim.
• Assist in the review of any reduced settlement or declined claim.
• Assist with any uninsured recoveries against other parties.
• Authorised claims and process payments where any authority is impletemented.

Use our services how you wish for as long as you wish!

• For all your claims.
• For specific lines of insurance.
• Seasonal increases.
• Staff are on long service, parental or extended leave.

Some of the benefits of using this service are:

• The customer remains fully appraised of the process and progress of their claim.
• Leaves the you free to concentrate on other activities.
• Extended hours of operation available.
• Designated phone numbers available and answered in your business name.
• Qualified claims consultants.
• Purpose-built claims administration database and IT system.
• Service level agreement to ensure quality of service provided.
• Full and complete reporting provided as required.
• Flexible arrangements tailored to suite your business.

Our Claims Administration Service is available to all general insurance intermediaries throughout Australia.

Spend more time finding new business, while we support your customers!!

A number of Australia's leading insurers and loss adjusters engage our services to provide expert advice on the assessment of a claim for IT and electronic equipment allegedly damaged by an insured event.

Upon inspection of the damaged equipment we are able to:

• Determine the cause of the damage sustained by the insured equipment.
• Quantify the extent of the damage sustained by the insured equipment.
• Offer settlement recommendations regarding repair or replacement scenarios.
• Provide a written report detailing the results of our investigations.
• Following instruction, proceed with the recommended settlement scenario.
• Offer/obtain salvage for remaining parts.

In most circumstances, depending on the customer's physical location and the description of the damage sustained, and the resultant effect on the insured equipment, we will arrange for the equipment to be shipped to our office for thorough investigation and testing. Our in-house specialist personnel are able to determine if the circumstances that led to the damage as detailed on the claim form by the customer could in fact have resulted in the actual damage sustained by the insured unit(s).

We will also review any repair or replacement quotation provided by the customer, and arrange for a further independent quotation to provide an alternative to the insurer or loss adjuster.

Where customers have preferred suppliers and/or repairers, we will negotiate with the local supplier and/or repairer to ensure that the best possible price is obtained. If the Customers preferred supplier and/or repairer’s price is still greater than ours, we will give that supplier the opportunity to beat our price!