THANK YOU FOR SUBSCRIBING
Insurance CIO Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Insurance CIO Outlook
Bev FitzGerald, Chairman and Graeme Shurben, Managing Director, Global CAT ResponseSupporting as its primary client RSA, a major PD/BI Insurer in Chile with over 20 percent market share, Bev FitzGerald, Chairman of FitzGerald Consulting, his director colleague, Graeme Shurben and his team of experienced adjusters carried out an initial assessment of the situation in Chile within 48 hours. Its CAT team of surveyors, engineers, accountants and agri-business specialists helped that insurer manage 30,000 loss notifications.
"The largest single component of all the major losses insured with RSA, which totalled 500 million dollars, involved the Chilean wine industry, a major contributor to the national economy," says FitzGerald. Acting on insights from FitzGerald Consulting's viticulture experts, substantial interim and then early final settlement payments were made to companies in that industry.
With effective mitigation measures, FitzGerald Consulting ensured the protection of a major source of foreign exchange revenue, providing measurable support in the restoration of the country's economy.
FitzGerald Consulting finalized 25,000 homeowner claims within three months and 98% of small and medium claims by the end of 2010. Citizens and industry experts across the globe lauded the prompt response and meticulous effort by Fitzgerald and his team. This will be regarded as the template for managing CAT events worldwide. The feedback from my colleagues at RSA and within our re-insurer and Lloyd’s partners to FCL’s sterling work has been magnificent," says Scott Webb, Group Technical Claims Director, RSA.
“Unlike other loss adjusters, we keep a very low number of outstanding cases. We dedicate our people to deal with catastrophes and to handling other major loss or complex individual claims,” says FitzGerald. With well-established businesses in Spain, Chile and the Caribbean, FitzGerald Consulting also handles conventional loss adjusting projects with a focus on complex property and business interruption insurance claims.
Additionally, using its widespread network of Audit specialists, FitzGerald Consulting designs and conducts detailed reviews of claims handling processes for in-house claims departments and independent outsourced facilities to prevent any leakage. It develops comprehensive reports with numerous recommendations after evaluating the effectiveness of policies, regulatory compliance, and claims spend to provide actionable insights that improve the overall performance of the claims processes.
FitzGerald Consulting's meticulous attention to detail and commitment to ensuring accurate adjustment of claims are the driving force for its success. As global warming triggers catastrophic events in cities with high concentrations of skyscrapers, houses, and factories, the rise in losses is exponential. FitzGerald Consulting is at the forefront in providing specialist claims services with comprehensive expertise and experience to help companies and individuals deal with catastrophes and other major losses as they occur.
|
Share this Article:
Tweet
|
Company
FitzGerald Consulting
Headquarters
London, UK – and Spain, Chile & the Caribbean
Management
Bev FitzGerald, Chairman and Graeme Shurben, Managing Director, Global CAT Response
Description
FitzGerald Consulting Ltd is a specialist insurance claims consultancy and chartered loss adjusting practice. FitzGerald Consulting’s meticulous attention to detail and commitment to ensure accurate adjustment of claims have been the driving force for the firm's success
