The interactive platform curates real-time data on travel restrictions, supply chain disruption, social and economic regulatory change and government advice
Software organisation McKenzie Intelligence Services (MIS) has created an interactive Covid-19 incident dashboard specifically for the insurance and reinsurance sectors to support claims teams, exposure managers and loss adjustors.
The intelligence-based dashboard visually presents a variety of data sets that clearly maps the various impacts of the coronavirus outbreak – the data can be examined in real-time, downloaded, or rewound to see how a situation has evolved.
The analysis featured in the dashboard, which includes information collected from the start of the outbreak in January 2020, covers travel restrictions, supply chain disruption, social and economic regulatory change, government advice, cancelled events and the overall spread of the virus.
Dashboard users will also be able to find information such as:
- Denial of access start and stop dates.
- Civil shutdown start and stop dates.
- Level of infection in the local area.
- Emergency orders from authorities.
The dashboard has been designed, in particular, to aid the claims process by helping claims teams handling any affected class of business to understand the Covid-19 situation at the time a claim occurred. This could be useful for property business interruption, denial of access, event contingency and liability claims, MIS said.
Vicky Mills, chief product officer at MIS, added: “We sense claims will begin to arrive en-masse, stretching teams that are now geographically disparate and adapting to new working practices.
“As a result, teams may not have access to the usual office resources to deliver the collated data that will be vital to providing the unique and trusted claims service that is central to the industry and its ethos.
“A safe pair of reliable and trusted hands are required now to capture the data, store the data and make it available for usage, in a way that the market understands and can help with claims clarity and payments.
”A TPA or claims adjuster can use the information, which is updated daily and sourced from verified sources only and drills right down to US county level, for example, to inform their decision making and add to their file as evidence. The dashboard and portal will also provide a link to the source of the data, so a copy may be downloaded.
”A key benefit here will be one trusted version of the truth, rather than relying on inconsistent search engine results and trawling back over time through the huge number of sources out there.”
The dashboard has been developed following conversations with Lloyd’s market participants – MIS stated that these firms will be the early adopters of the new platform.
Forbes McKenzie, founder and chief executive of MIS, said: “We are proud to be able to direct our resources towards assisting the industry and its clients manage the ongoing challenges presented by this unprecedented event.
“Thanks to the detailed intelligence we’re gathering from our trusted team of experts in both claims processes and infectious disease mapping and response, we hope to make an important difference to claims teams and exposure managers as they continue to map the impact of Covid-19.”
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