Claims SCAS pilot goes live
The Claims Lab is excited to announce the SCAS pilot has successfully gone live for the automation of small value settlement transactions for claims with specific lines of business and agreed financial limits. The first claim was successfully processed by the service on 12th May as a very first step towards straight through processing in our technology and business design. This pilot will demonstrate benefits of fewer touchpoints and reduced cycle time for customers, informing our longer term future state solution design for settlement of Claims at Lloyd’s. The pilot also complements the changes to the Lloyd’s Claims Scheme by automating and removing the manual claim handling step by the Lead, going straight from the broker to payment processing.