Ventiv Technology

1 4 | 360º Aon eSolutions UK-headquartered Tesco, one of the largest retailers in the world, operates more than 6,000 stores worldwide. Serving millions of customers every week and employing over 300,000 staff members, the potential for accidents is ever- present. Tesco was looking for a way to use their risk and insurance data to be able to quickly identify root causes of accidents, target loss prevention initiatives and help make risk financing decisions more precise. ADOPTING RISKCONSOLE The main objectives Tesco set out to achieve by implementing a risk management information system are threefold: » To minimise and mitigate the frequency and severity of accidents to customers and staff, » To quickly and appropriately compensate customers and staff if they were legitimately injured, » And, reduce the average cost of personal injury claims. To achieve these objectives Tesco needed to gain control over its claims data, which was supplied from the insurance companies who managed the claims, and be able to analyse all elements of the claims lifecycle."In order to implement effective risk management procedures, we needed to improve how we aggregated, used and analysed all our claims data," says Neil Almond, Systems and Data Manager in the Insurable Risk Team at Tesco PLC. CORRECT SYSTEM SELECTION "We looked at several risk management information systems and decided on Aon RiskConsole. This was because of our existing relationship with Aon and the stability and work-man-like nature of the system. Since I joined Tesco in 2009, I can't think of an instance when the system has let us down," says Almond. Tesco then worked with Aon eSolutions to examine the existing data landscape and determine how to best structure the claims data in RiskConsole. Almond says: "In order to give ourselves the best opportunity to effectively reduce accidents and lifecycle costs, we have to ensure the data entering the RiskConsole system is correct. This means causation options and all the data fields have to be clear and provide the claims handler with an intuitive and explicit route for entering an accident." "The time and effort spent during the design stage has paid dividends. We're now provided with a complete view of the overall claims environment that we can trust. From this we can focus our energy on tackling the main causes of claims first, and in the most effective way," adds Almond. INSIGHTFUL DECISIONS The data and reporting capabilities from RiskConsole enables Tesco to analyse all elements of the claims lifecycle. Importantly, this includes how claims and the claim experience differs across the whole of the company's operation. "We run many reports looking to identify the main causes of our retail and distribution claims, but also on the operation to manage our claims and the financials. The richness of the data has enabled us to put together a number of unique initiatives, such as our 'safer place to shop and work' programme. RiskConsole quickly shows us whether our initiatives have had a positive effect or not," explains Almond. In fact the new programme has significantly reduced the number of accidents customers were having within the retail operation, which was previously the biggest driver for claims within Tesco.

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