Currently used by 77% of the UK’s motor insurance market, the portal is testament to how well insurers can work together in order to help customers, according to Aviva claims director Andrew Morrish. By the end of the year, the portal is forecast to be utilised by over 80% of the market.
Eliminating the need for correspondence, it matches claims, views on liability, and requests for payment – speeding up the process, with 95% of claims automatically matched and fault agreed within 28 days on 70% of claims. The portal is provided by Validus-IVC and has handled 139,000 Aviva motor claims since its launch.
“The subrogation portal has been a fantastic success which has reduced costs and significantly reduced the time it takes to deal with a third-party claim,” said Morrish. “The portal removes the need for the hundreds of thousands of calls and letters sent between insurers to recover money, creating a much simpler process for everyone.”
The first insurer-led arrangement following the 2014 Competition and Markets Authority’s ruling on motor claims, the portal also involved bi-lateral agreements that prevent insurance firms from charging one another unnecessary costs.
“But there’s still more to do,” added the claims director. “We’d encourage further collaboration between insurers to make the portal work even better and improve the customer outcome.”
