The risk store’s new Claims Management Analysis Programme (C-MAP) initiative is gaining traction in the market, with the company reporting another two life insurers have signed up to the programme.
C-MAP is an independently conducted assessment of life risk insurers’ or super funds’ claims departments. The risk store says it designed the programme to deliver a structured and transparent analysis of the claims management operations of participating insurers and super funds, “such that a valuable measurement can be made of the true client claims ‘experience’.”
“We’d love to be able to announce who these companies are, however one of the important commitments we make is that the whole programme remains confidential until such time as the insurer is ready to announce the results and what, if anything, they are doing with them” explained Peter Wincott, Managing Director of the risk store.
In response to the growth of C-MAP, the risk store has appointed analyst Murray Amies, who will join risk store founder Sue Laing in conducting the programmes.
“The risk store is thrilled to announce it has secured the services of one of the most experienced former claims and underwriting executives in the business to assist with the further rollout of C-MAP,” said Mr Wincott.
“His appointment will address real industry concerns about the resources available to deliver the very detailed and comprehensive C-MAP results,” he added.
Mr Amies said he was delighted to be working with the risk store, and is looking forward to contributing to C-MAP’s future development.
“C-MAP is not an audit; it is a comprehensive review comprising around 140 different elements, examined both from files as well as company practices and procedures,” said Mr Amies.
“In time, we expect C-MAP results to be benchmarked, similar to the existing rating practice for risk product features. This development will provide a significant benefit for customers, advisers and the industry generally.”
Mr Amies has extensive experience in all aspects of management, risk and administration within the life insurance industry. He has held senior roles with BT Financial Group, Colonial/CBA and AIA NZ, as well as, most recently, acting as consultant to Munich Reinsurance.
