Conversation management for commercial property claims
AXA is to pilot VFM's anti-fraud claims screening process on commercial property. In a pilot concluded earlier this year, about 45% of household claims made to AXA were not paid after the claimants were screened using VFM's conversation management technique.Of the 45%, 33% of claimants withdrew their claims, about 7% of claims were not pursued and more than 5% of claims were repudiated.An AXA spokeswoman said commercial property claims were well suited to the VFM system. "As the cognitive interviewing process is where we already have measured success - and where we have refined the process to suit our needs - we looked first at which areas of business would best benefit from using this technique," she said."As a result, commercial property will be the next class of business that we are going to pilot. "We are also in discussion with our broker national advisory group to gain customer input and establish if any changes need to be made before proceeding."It is understood that AXA may also roll out the VFM pilot to travel claims."Due to the success of the [earlier] pilot we are now looking at other classes of business, to see what is the best approach to tackle fraud, as it may vary from class to class," the spokeswoman said.VFM's conversation management process determines whether a claimant is genuine by using applied psychology.
VFM's screening processAccording to VFM, the process includes the following elements:
