Former NIA Chairman Unveils New Claims Handling Firm
Ebere Nwoji
Insurance Technocrat and former Chairman of the Nigeria Insurers Association, Mr Gius Wiggle has unveiled Carest Consult firm to pioneer a new vista in claims management and strengthen the value chain in the insurance industry.
The new company, according to Wiggle, will drive and deliver a new experience for uninsured victims of accidents, policyholders, insurance companies and corporate institutions.
Specifically, Wiggle said Careest Consult will assist victims of motor or workplace accidents to get compensations against the insurers of the motor vehicles or their principals against their liability insurance policies.
He said, “Our services will also include assisting policyholders who were either denied payment, ordered a settlement that is unreasonably low and unacceptable.”
He confirmed that the #ENDSARS riot inspired this new outfit coupled with the existence of many policyholders who do not know the extent of their insurance coverage.
He noted that many people are just buying insurance to satisfy the law without understanding that they should report the incidents or accidents to their insurance companies.
He said rather than that they resort to settling many claims from their pockets whilst denying the insurance industry of data capturing of claims on our roads, construction sites and product liability.
According to him, Carest Consult would also undertake claims investigation, portfolio audit for corporate institutions, and verify the actual risk exposure, risk classifications, coverage provided.
“A comprehensive and quality insurance audit has been found to be beneficial to corporate institutions saving time, money and resources at the time of any eventuality.”
He said, in UK, there are now companies who are outsourcing their claims management to third party companies to save cost or for efficiency.
He added that 2020 Covid-19 lockdown brought about companies exploring options for doing business differently and outsourcing claims management was one of them.
“Given my knowledge of the working process in an underwriting company, insurance companies have neglected a significant portion of their recoveries from claims and lose lots of inflows that should enhance their revenue line and reduce their claims cost”.
“Carest Consult will go further to provide Subrogation Services/Local Facultative claims services to help reduce or eliminate this outlay by engaging with other parties and recover whatever is due to the company that engage our services”.
“Our deep resources also includes arbitration which is an alternative to going to court over a claim dispute, an option we consider has not been fully utilised within the claims management process” Wiggle said.
