Background

In July 2023, Frad was assigned by an insurer to provide technical support for overseas claims of a Chinese large group and handled insurance claim from all over the world related with the group. The group had set up multiple operation centers around the world. However, when its local employee handled insurance claims, due to limited knowledge about insurance policies and language barriers, plus on less known about local insurance industry, the claim usually cannot be dealt with properly. The above conditions directly led to a low loss compensation rate and high case handling time, affecting the enterprise's overall operational efficiency and financial health.

Service Content

Claim Handling: Assisted the enterprise in handling overseas insurance claims. Increased case closure rate over 25% and a loss compensation rate over 42%. Average case closure time reduced from 79 days to 68 days.

Assistance in Recovery: For cases involving third-party liability, we utilized local resource networks to recover losses from relevant parties, successfully retrieved over CNY 1,300,000.00.

Risk Mitigation: Frad risk management team provided risk mitigation services by organizing and analyzing a large number of past claims cases of the group, summarizing the causes of high-probability and high-loss accidents, and offering optimization and rectification suggestions. At the same time, analyze common dispute points in the claims process and propose policy optimization suggestions.

Education and Training: Organized a series of training sessions to enhance frontline employees' risk awareness, taught them how to understand and interpret insurance terms and learn operational method in the claims process.

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