Chaucer signs five year agreement with ISO

• Solution enables Chaucer to achieve significant 16 per cent decrease in year-on-year personal injury settlement costs

Chaucer Insurance, a leading UK Lloyd’s motor insurer, has signed a five-year licence agreement for the Claims Outcome AdvisorTM (COA) solution from Insurance Services Office (ISO) Limited. Chaucer has confirmed its commitment to ISO’s personal injury claims management solution after the first year of use yielded a 16 per cent decrease in average year-on-year lower level personal injury claims settlement costs.

COA empowers Chaucer’s claims handlers with more information, which allows them to increase accuracy and consistency levels and avoid leakage in managing personal injury claims. It provides a medical encyclopaedia of injuries and their associated long-term effects, which helps Chaucer to interpret medical reports more accurately.

Nick Burnap, Claims Director for Chaucer, said: “COA has already made a real difference to the way our company operates. In a year, it has enabled us to achieve a significant 16 per cent decrease in our year-on-year lower level personal injury claims settlement costs – an accomplishment that made us extend our commitment to ISO and its COA solution.

“COA supplements our claims handlers’ skills and knowledge bases, providing them with a good research and reference tool that enables us to have more detailed management information and therefore more efficient claims management processes,” he continued. “For example, COA empowers our claims handlers to be more effective during negotiations with third parties as we are able to compare and contrast claims made by geographical region or a particular solicitor. COA provides the information to look at settlements by individual or team and identify more serious personal injury claims earlier in the process.”

Joe Pendle, Director of Client Services for ISO, said: “Chaucer Insurance is one of many companies in the UK already reaping the real business benefits of the ISO Claims Outcome Advisor solution. Personal injury insurance claims are difficult to quantify, but with COA’s understanding of over 18,000 medical conditions and 14,000 occupations, claims are being dealt with far more consistently and accurately than ever before. Chaucer’s decision is a further endorsement of ISO’s second-generation web-based claims handling technology and highlights how COA is fast becoming the solution of choice for claims handlers and claims management.”

About Chaucer
Chaucer Insurance is the UK motor division of Chaucer Holdings PLC, a prominent publicly quoted company trading within the Lloyd's market, with offices in the City of London. The company began trading in 1965 and by 2000 its development had led to the re-branding of Chaucer Insurance and included a move to its prestigious new offices in Whitstable, Kent.

About ISO Claims Outcome Advisor™ (COA)
ISO Claims Outcome Advisor™ (COA) is the industry’s first personal injury claims management solution that manages the multiple dimensions of organisations’ personal injury claims portfolios. COA understands the severity and recovery implications of over 18,000 medical conditions — including injuries, treatments, complications and pre-existing conditions — and 14,000 occupations. COA helps claims handlers, managers and actuaries manage the unique and complex medical, legal, and occupational issues presented by personal injury claims, and helps ensure appropriate financial arrangements are agreed to and implemented. Claims handlers can manage all aspects of a case from first notice of loss to return-to-work plans, rehabilitation and damages.

About ISO
Insurance Services Office (ISO) Ltd, is the UK subsidiary of Insurance Services Office, Inc. Insurance Services Office, Inc. is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, estate agency, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. Around the world, ISO's services help customers protect people, property and
financial assets. ISO's customers in the UK include Admiral Group, AXA Insurance, Chaucer Insurance, Highway Insurance, Lloyd's, Rubicon Corporation and Zurich Financial Services.

For more information on ISO products, contact ISO at Info.uk@iso.com, or visit ISO at www.uk.iso.com.

For more information please contact:

Mark Strang, ISO Tel: 01252 761055 mstrang@iso.com

Manuela Whittaker, IBA – PR for ISO Tel: 01780 721433 mwhittaker@iba-europe.com