London, UK - 30th September, 2008 - Salaam Halal Insurance, the UK's first independent Shariah-compliant insurance company, has implemented the ISO Claims Outcome Advisor (COA) expert personal injury motor claims processing system from Insurance Services Office, Inc., (ISO). COA provides Salaam Halal Insurance, which uses a mix of in-house and outsourced handlers to evaluate its claims, with accurate personal injury motor claims information. This ensures greater control and transparency over the entire personal injury claims handling process - whether in-house or outsourced - and enables it to offer fair and consistent settlements to claimants, compliant with the requirements of Shariah law.
All of Salaam Halal Insurance's claims handlers can access and navigate the COA system easily via the Internet with speed and efficiency - alleviating expensive and time-consuming IT project costs. ISO was able to meet Salaam Halal Insurance's training needs for both its in-house and outsourced teams, training them quickly to access COA's encyclopaedia of injuries, medical conditions and occupations in managing the personal injury claims handling process.
"As the U.K.'s first independent Shariah-compliant insurer under our Salaam Halal Insurance brand, we have brought together the very best of UK insurance experience and Islamic finance expertise. Having used COA previously to enhance claims handling best practices, I felt that ISO’s personal injury claims solution would provide our handlers with the necessary understanding of the mechanics of an injury and enhance their negotiation skills," commented Trevor Webb, Claims Director, Salaam Halal insurance. "This knowledge will ensure consistent and accurate settlements that reflect the rightful nature and severity of an injury.
"Because we outsource a significant amount of our claims, we needed a solution that gave us good transparency and control of both our in-house and outsourced claims processes," continued Trevor Webb. "The management information that we can access and analyse through COA is a significant add-on that ensures we are kept fully informed during the settlement process. It also enables us to drill down into areas where we feel we need more information or improvement.
"What is also very exciting about COA is how ISO is streamlining the existing processes between doctors, insurers, and lawyers to dramatically reduce personal injury claims lifecycles. This will benefit the insurance industry and claimants alike," concluded Trevor Webb.
"ISO Claims Outcome Advisor will enable Salaam Halal insurance's handlers to input complete information from medical reports and help settle claims accurately and consistently with information from COA's encyclopaedia of more than 18,000 injuries and medical conditions and 14,000 occupations," said Joe Pendle, Director of Client Services for ISO. "This, together with increased levels of visibility, will provide Salaam Halal with consistent and fair claims evaluations and enable more effective management of personal injury claims."
About Salaam Halal insurance:
Salaam Halal insurance, a trading name of Principle Marketing Services Limited that launched in July 2008, is the first independent, fully Shariah compliant Takaful operator in the U.K. Salaam insurance's mission is to provide the Muslim community with financial service solutions tailored to their needs, beliefs, and principles.
Salaam Halal insurance and Salaam Insurance are the trading names of Principle Marketing Services Limited. Insurance arranged by Salaam Halal insurance and Salaam Insurance is underwritten by Principle Insurance Company Limited, and the contracts based on the Islamic principles of Takaful have been approved by the Shariah Supervisory Committee. Principle Insurance Company Limited and Principle Marketing Services Limited are authorised and regulated by the Financial Services Authority. For further information, visit www.salaaminsurance.com or contact:
Aisling Ward
FD Consumer Dynamics
Tel: 020 7269 7141
About ISO:
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyse, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts and certified professionals. Around the world, ISO helps customers protect people, property, and financial assets. For more information, visit www.iso.com or contact:
Mark Strang
ISO - Business Development Manager
Tel: 01252 761055
Email: mstrang@iso.com
Manuela Whittaker
The PressOffice - PR for ISO
Tel: 01780 721433
Email: mwhittaker@pressoffice.targetwire.com
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