Claims Platform targets "trust deficit"

Risk advisers should consider outsourcing their claims administration so they can focus on providing emotional support to their clients during the process, says AFRM Claims Advocacy. New ‘insurtech’ start-up AFRM Claims Advocacy has signed up 40 risk advice practices to its platform in 2018 after it launched at the end of 2017. The company tracks claims via its digital platform, keeping both clients and advisers informed about the progress of each claim. AFRM Claims Advocacy chief executive Bruno Muraca said the start-up spent its first six months listening to stakeholders – whether they were advisers, clients, superannuation fund trustees or insurers. “Much of that traction can be attribute

Claims Advocacy Service Promoted as Efficiency Driver

Australian Financial Risk Management’s claims advocacy service has driven greater efficiencies within its business, according to the risk-focussed advice practice. In a release promoting the value of its service, AFRM Claims Advocacy(ACA) CEO, Bruno Muraca, gave context to this relatively new service initiative against the backdrop of the Life Insurance Framework reform environment. Muraca identified what he referred to as the seemingly contradictory need for advice businesses to reduce costs (due to the impact of the LIF reforms) while at the same time improve their service delivery. He said every adviser knows the time it can take collating all the information needed to file an insurance c

Advisers, Insurers Need to Improve Efficiency Under LIF

Now that advisers and insurers are operating in the new world of the Life Insurance Framework (LIF), significant focus must be placed on exploring ways to improve the efficiency of their practice, according to AFRM Claims Advocacy (ACA) CEO, Bruno Muraca. “Early in the new financial year is a natural time for all businesses to be examining how to reconcile the seemingly contradictory needs to reduce costs while improving service delivery - and ACA’s suite of services allows advisers to do exactly that,” Muraca said. “Both advisers and insurance companies we are working with have identified significant benefits when using our services. “For example, saving an adviser’s practice up to 10 hours

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