QBE signs five year deal for personal injury solution

QBE has signed a five year contract with ISO to use its Claims Outcome Advisor solution, designed to provide support to claims handlers in the valuation of personal injury claims.

QBE will use the system to manage personal injury claims across its entire U.K. casualty and motor operation, generating significant business savings each year. Policyholders will experience an improvement in claims settlement times.

The insurer signed the contract with ISO following a year-long evaluation of the COA system.

QBE expects considerable benefits from deploying the software, which will allow greater consistency in settlement values across the board. The COA solution will also provide improved management information, enabling both underwriters and claims handlers to make better informed decisions.

The valuation range for claims handled through COA is based on QBE's own claims settlement profile, making it unique to QBE and aligned with QBE's claims management strategy. QBE has also signed-up to the COA Bureau Service offered by ISO.

Andrew McBride, claims director at QBE Europe said: "We conducted a thorough and lengthy evaluation of COA over 12 months, and the benefits proved to be significant. We expect savings to run into millions of pounds each year. The system represents a major step forward for the QBE Claims team, which is already acknowledged as a leading centre of expertise in the business. The system will also provide a new level of information support to QBE's European operations."

Joe Pendle, director of client services for ISO, added: "Being chosen by one of the most respected insurers in the industry is a great endorsement of the proficiency and capabilities of COA and our support team. COA works to be consistent, objective, and accurate in the evaluation of personal injury claims based on the available medical evidence. Claimants will benefit from faster and fairer settlements. This consistent process helps our clients to realize significant savings."