Difficulties with a management company

THE CONTEXT

An insurer delegated the underwriting of insurance contracts (mobile phones and portable products) and claim management to a certain company.

This insurer was then repeatedly faced with difficulties such as inconsistent and incomplete information on the part of the management company, as well as problems with internal tracking.

GM CONSULTANT INTERVENTION

GM loss adjusters specialising in financial risks were asked by the insurer to look back over the previous 4 years and put together a record of the financial flows between the various parties involved (policyholders, management company, insurer, re-insurer), to verify the itemisation of premiums and losses, and to place all the supporting documentation in a central database.

The loss adjusters were able to identify several anomalies, which resulted in significant corrections. Furthermore, they made recommendations to improve the information-gathering process.

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