EDITORIAL

‘The importance of data…’

Dear clients, friends, and contacts, In these home-working times, we have noticed that many decision-makers want to gain more management information and go in-depth to see how these data help them to face future challenges. It is clear that managing at a distance requires more insight into KPIs and, as we have noticed, many managers are preparing themselves for the ‘after-Covid-period’ and seek the help of data to make new decisions.

For management and operational purposes

At CED Cross Border Claims, we encourage this trend and are happy to contribute to more and better insights of business processes. I remember during a course at a well-known institution where they said that investing in data (analytics) is the difference between successful and failing companies in the present and the years to come. We at CED have, therefore, put in place a wealth of management information, using our own analytics for management and operational purposes. A recently added feature of our management information is, for instance, the geographical overview of where accidents happen. This metric, for example, allows us to better service your insured by ensuring that loss adjustment is effectively and sufficiently available in areas of higher claim volume.

Strategic choices

For you as clients, we are happy to deliver the requested information and where possible go that extra mile. Because we know that good data will allow your organization to set goals for performance and at the same time see what is happening in the market, enabling you to make better choices. We recently were pleased to deliver insight to a client about how much the average cost of claims in the UK market compares to the averages we see on claims handled by CED UK. Clearly, we want to know how we are doing for our clients, and our client wanted this information to decide how to decrease their combined ratio regarding foreign clams. Benchmarking ourselves like this ensures we continually optimize our own claim processes and also ensures financial certainty for our clients.

Data- and client-driven

In this third edition of our e-zine, we gladly share our data-driven mentality. Our Operational Director, Robert de Waard, will tell you more about our processes and how we steer your KPI’s. Innovation is key here. We are proud that one of our valued clients wants to share their insights as well. Our new colleagues from Eurexo in France have joined CED and broaden our added value. Last but not least, we gladly give you more information about some interesting topics just before the summer comes and offer you updates regarding our Cross Border Claims business.

A natural thing

I wish us all to flourish from sharing information. I especially wish you all, a beautiful springtime in which growth will be a natural thing, just as in nature! Warm regards, Karin Korstanje Managing Director CED Cross Border Claims

Do you have any comments, questions or ideas regarding this? We are happy to receive your feedback!