Sedgwick Australia’s TPA operation gains Lloyd’s and ASIC approval

After completing an extensive, global due diligence process, Sedgwick Australia has been formally approved by Lloyd’s as a Delegated Claims Administrator. This is in addition to ASIC’s confirmation that their Australian Financial Services Licence (AFSL) has also now been granted._x000D_
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These approvals will allow Sedgwick Australia to continue provide their specialist, technology-enabled, delegated authority claims services locally, including to Lloyd’s managing agents._x000D_
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”We are delighted that the process for these applications is now complete and are very much looking forward to the future and doing what we do best – caring for our customers and settling claims.“ said Phillip Dilger, Sedgwick TPA operations manager in Australia._x000D_
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In addition to managing their existing TPA claims portfolio, in recent years, Sedgwick has been engaging with the market, particularly underwriting agencies. This work is to better understand their needs and ensure that the services provided reflect those needs._x000D_
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Perhaps the most significant finding was that many felt the process of appointing a TPA was unduly complex and longwinded – something that is already being addressed._x000D_
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”Sedgwick conducted a global review of procedures in all 65 territories that we operate in and it was clear in Australia, we could benefit by formally documenting our onboarding process’ added Dilger. “in addition to tightening things up, the stricter process allowed us to eliminate some double handling, ensure our documentation was up to date and significantly reduce our go-live times.”_x000D_
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Clearly, it’s only when arrangements go live that the true value becomes apparent and Sedgwick is confident that recent investments in people and technology, will help complement the new regulatory environment and provide further enhancements in customer service._x000D_
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”Our new operating system was designed in-house, to reflect both our values and the requirements of our AFSL, therefore making it far easier to ensure compliance targets are met. Upcoming enhancements will introduce AI for certain functions – removing them from our claims handlers, allowing them to focus solely on caring for our customers when they need us most,” said Dilger_x000D_
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For more information about Sedgwick’s TPA operations in Australia, you can contact Paul Bloxsome at paul.bloxsome@au.sedgwick.com or 0430 273200.