False Confidence to Real Results: Transforming Claims with £190m in Value Identified

The Challenge

The insurer needed to identify opportunities for scale and improvement within its claims function. The objective was to design and execute a programme that would deliver measurable enhancements while making a clear case for investment where required.

An expert with deep industry experience was essential to prioritise improvements effectively, execute changes swiftly, and provide credible insights into operational efficiencies.

Our Approach

Credible Benchmarking

The insurer had been relying on misleading benchmarking data from a large management consultancy. These flawed models created a false sense of performance, leading the business to believe it was operating more effectively than it was. Given the unique nature of the UK claims market, it became evident that the consultancy lacked the necessary expertise to benchmark effectively.

Our consultant implemented a KPI-driven approach to measure customer outcomes and claims financial performance, shifting the focus beyond regulatory compliance to true operational excellence.

Identifying and Addressing Inefficiencies

• Conducted a comprehensive review of end-to-end claims costs, which had not previously been measured.

• Building a customer-centric claims culture to drive better experiences and outcomes.

• Rationalising the supplier network for greater efficiency and oversight.

• Assessing and modernising the claims technology, addressing outdated systems and lack of supplier integration across the claims journey.

• Enhanced recoveries, repairs, and salvage strategies, and ensuring that the insurer fought more effectively for non-fault claims.

Resulting Business Benefits

Financial Benefits

• £190m in annual claims indemnity overspend identified. 

• £42m in savings realised within six months.

Long-Term Transformation

• Refreshed strategy and multi-year roadmap.

• A simplified and more agile claim function.

• Establishing a culture of continuous improvement within the claims team.

• Embedding technology-driven decision-making to support faster, more effective claims handling.

• Developing training programmes to equip teams with the skills, knowledge, and accountability needed for the future.

By driving both immediate cost savings and long-term operational improvements, our consultant has positioned the insurer’s claims function for sustainable success.

Next Steps

Unlock the full potential of your claims function with expert-driven optimisation. At Camelot Consulting, our independent consultants deliver measurable savings, operational efficiencies, and long-term improvements. 

Contact us today to discover how we can help you optimise costs, streamline processes, and future-proof your claims strategy.