VClaims, SCOR’s advanced claims automation solution, has just been recognized “Innovation of the Year” at the 7th Annual ALUCA Life Insurance Excellence Awards in Sydney. As one of the most prestigious prizes for L&H Underwriting & Claims teams in Australia and New Zealand, this award recognises significant contributions to underwriting, claims, rehabilitation, and other areas of the life insurance industry that can ultimately have a positive impact on policyholders and society.

In 2023, SCOR introduced VClaims with the goal of addressing long-standing pain points for insurers and policyholders in the claims process. First launched in Australia and New Zealand in partnership with Adviser Connect, the solution has since been expanded to more markets.

While a lot of effort has been put into automating the underwriting journey over the last several years, claims has remained a mostly manual process across the world. More often than not, this has unfortunately resulted not only in expensive back-office operations for insurers, but also in strong variations in service levels, errors, onerous information requests, delays, lack of additional support for those more vulnerable, and a feeling of being kept in the dark for claimants.

Using extensive data analysis, expert knowledge and rules, and state-of-the-art technology, VClaims aims to improve the claims lodgement process, expediting payments, and alleviating the burden on claimants. The initiative is helping to establish new benchmarks for improved customer satisfaction and operational efficiency within claims processing.

“VClaims integrates cutting-edge technology and comprehensive data analysis with deep insurance expertise,” says Paula Bourke, SCOR’s Deputy L&H CEO for ANZ Markets. “This holistic approach has allowed our teams to create an advanced claims automation solution that enhances the claims experience and operational efficiency, while also fostering trust, transparency, and risk mitigation, adding value beyond financial gains. We’re thrilled to have been recognised with ALUCA “Innovation of the Year” and I believe this speaks to our team’s commitment to proposing creative solutions that improve industry standards for claims processing and customer-centricity.”