LV= opts for ISO’s Claims Outcome Advisor
LV= has announced that it has signed an agreement with Insurance Services Office (ISO) Limited allowing LV= to take advantage of the ISO Claims Outcome Advisor (COA).
By utilising this technology, LV= will be able to provide more accurate and consistent claims settlements, as well as enhancing its claims process efficiency.
Two years ago the firm acquired Highway Insurance, which used COA as its personal injury claims assessment system, with the present agreement widening the scope of COA’s usage by LV=.
LV=’s Director of Claimant and Technical Services Martin Milliner explained that the contract with ISO was simply a case of broadening the usage of COA, as it had been seen to work very well within Highway Insurance.
Milliner particularly highlighted the reduced time it takes to handle a claim as one of COA’s advantages, a consequence of the integrated communication system between the stakeholders involved in a personal injury claim.
COA has proven highly popular in the UK motor insurance market, and last year ISO revealed that it was the leading personal injury claims evaluation solution, with most of the country’s top 25 insurers utilising it.
Category: Insurance News
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