Ventiv Technology

1 6 | 360º Aon eSolutions SUCCESSFUL RISK MITIGATION PROGRAMMES IMPROVED STORE SAFETY & REDUCED ACCIDENTS REDUCED INDEMNITY SPEND Data analysis has also allowed Tesco to see what aspects of the products sold in store influence claims and the primary locations where claims are occurring. Almond says: "The insights we have literally drive everything we do. We've trialled various types of packaging to reduce injuries in our produce section. We've revised our refrigeration maintenance schedules and increased grit availability so that they align with seasonal weather changes. These targeted actions have resulted in significant gains in reducing the occurrence of accidents." Aside from reducing the causes of accidents, Tesco has also used RiskConsole to actively reduce the number of claims that re-open and the speed at which data is transferred to the claims handling teams. Almond says: "Back in 2009, we identified that our denial policy was probably too robust. The analysis from RiskConsole enabled us to advise our third party suppliers to adjust their policies, which has reduced our re-open rates and had a positive effect on our average cost of claim." Data insights also spurred Tesco to implement a new accident reporting system, which has drastically reduced the claims lifecycle by speeding up the transfer of information to the handlers. Furthermore, Tesco has encouraged store managers to build up a good rapport with the handlers to ensure all the evidence for a claim, such as logs, CCTV footage and witness statements, is provided as quickly as possible. THIRD-PARTY EFFICIENCIES Using RiskConsole, Tesco has had the ability to change strategies and manage claims using a combination of two third-party legal providers and an in-house team. Alm RiskConsole Benefits Tesco's move to Aon RiskConsole has delivered substantial business results: WE'RE NOW PROVIDED WITH A COMPLETE VIEW OF THE OVERALL CLAIMS ENVIRONMENT THAT WE CAN TRUST. " "

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