20 Sep 2016
Auto & General is the first Australian insurance provider to implement an advanced home insurance claim workflow and estimating system, in partnership with data and analytics company CoreLogic and cloud-based software group Symbility Solutions.
Antony Dunstan the Acting Director Claims & Assessing of Auto & General, commented, “The Symbility system enables Auto & General’s home assessors to scope and price repairs in minutes, utilising sophisticated software, world class analytics and a panel of builders and suppliers who meet strict quality and performance guidelines. Auto & General prides itself on high performance with high integrity, and we look for the same in our partners. First and foremost, they need to be customer focused, and we have spent almost two years ensuring we have the right system and suppliers in place.”
Mr. Dunstan continued, “Auto & General has provided insurance to over 1.5 million customers in Australia since 2000, and is seeing rapid growth in its home insurance customer base. The company is constantly investing in smart solutions to improve the customer experience and streamline operations, as it continues to grow market share. We believe this solution provides a sustainable competitive advantage and we are already seeing major efficiency gains and a much faster turnaround in approval and repairs. Customers love it.”
CoreLogic, a leading provider of residential and commercial property information, is the value-added reseller for the Symbility product suite in Australia and New Zealand, and will focus initial deployment on insurers and its supporting vendor network.
Since the acquisition of Cordell in 2015, CoreLogic has been able to integrate the vast Cordell construction cost data sets and align it with Symbility insurance claims workflow and loss estimating software.
CoreLogic Executive General Manager Insurance, Stephen Mitchell, said, “Combining this construction cost data and analytics, together with Symbility’s collaborative platform, means Auto & General can enable a market-leading claims experience for policyholders, while expediting a reduction in home claim complexity and costs. This project now successfully links property and construction data across the entire underwriting and claims ecosystem.”
“Symbility’s technology is paving the way in simplifying and streamlining how property claims are estimated and settled," stated James Swayze, CEO, and Symbility Solutions. “We are pleased that Auto & General, one of the key players in the property insurance industry in Asia Pacific, have decided to put their confidence in our products and services through our partnership with CoreLogic.”
Symbility is currently being used by Auto & General’s assessors in Queensland and will shortly be rolled out across the country.
Auto & General: Kimberley Moody, Corporate Communications Manager: Kimberley.firstname.lastname@example.org
CoreLogic: Mitch Koper, Head of Media and Communications: email@example.com
Key statistics, tables and graphs
available in PDF format
At a time when digital innovation and a focus on customer experience is permeating all aspects of our lives, building insurance has been somewhat left behind.
The second application Loan-to-Valuation Ratio (LVR) Index, from Equifax and CoreLogic, reveals a continuing downward trend in the national average application LVR.