Claims Excellence Awards finalist 2021 Q&A: Keoghs deploys ‘unique’ strategy for credit hire market

Here we feature Keoghs (a Davies Business) entry into the Credit Hire Solution of the Year – Claims Management category.

Keoghs entered its credit hire solution into this category – to see more fantastic Q&As from finalists, click here

What key achievement did your entry highlight?

Our submission highlighted Keoghs ability to positively influence the credit hire market by deploying unique, market leading strategies which targets the business structure of the entity, rather than deliver transactional claims level savings. These strategies not only deliver significant indemnity benefit to our insurer clients (circa £1m of forecasted savings versus prior year, plus year-on-year reduction in overall average spend) but has also led to the introduction of agreements between ourselves and credit hire organisations which seek to remove litigation from the claims process.

Can you share data or testimonials to back up your bid to win?

We provided an example data set within our submission which supports our delivery of £1m benefit to an insurer client. We have also obtained the following testimonials:

“Aviva work with Keoghs on a strategic level within the credit hire sphere. Keoghs’ have established themselves as key partner within our approach to these sorts of claims. Along with a number of high-profile claims being dismissed which have attracted media attention, Keoghs have worked closely with Aviva ensuring challenging cases where costs have escalated out of all control is the right and responsible thing for us to do. We have a responsibility to our premium paying customers to keep our costs low, which ultimately helps reduce pressure on insurance premiums, “ James Driscoll, technical lead, motor damage and credit hire at Aviva.

“Keoghs have provided us an excellent service for us by taking on outsourced work for a problematic claimant company both in terms of indemnity spend and successful strategy implementation. We have received regular communication on the progress of the strategy and the tactics deployed to allow us to effectively manage this portfolio and accurately assess likely outcomes. We anticipate claims savings in the region of £175,000 this year alongside reduced levels of litigation, achieved through excellent teamwork and co-operation,” Mark O’Donnell, third party claims manager at esure.

What sets your firm apart from the other shortlisted contenders?

Keoghs offering to the market, in this space, has been unique. Not only are we the only defendant offering, with the other finalists being Credit Hire Organisations, but we have sought to address some of the severest inflationary tactics that insurers face day to day, from some of the most problematic entities. To achieve this, we have turned the tables by deploying a number of legal applications which have historically been utilised by claimants in order to deliver significant outcomes to our clients and partners which has challenged, and ultimately rectified, errant behaviour. 

How will you celebrate if you are the victor? 

Whilst there would of course be jubilation on the night itself, if we were successful, there is a team of individuals that sit behind and deliver the strategies deployed and garner the results we have been able to share with you. We ultimately look forward, when possible, to celebrating with the team face to face most likely over some food and drinks.