Cost and efficiency should be key industry concerns

Costs and efficiency are a key focus for clients of Charles Taylor Insurance Services, Jody Baker, commercial director, Charles Taylor Specialist Claims Management and James Savill, business development director, Charles Taylor Insurance Services, told Monte Carlo Today.

“They are looking at their P&L and where they can make savings,” said Savill.
“That’s the opportunity for outsourced providers at the moment it’s really a matter of maximising that opportunity and trying to build a solution that is going to fit in with the insurers’ models.”

Baker agreed, adding that the company’s office setup, which includes a new office in Bournemouth on the south coast of England and an office in London EC3, enables it to respond flexibly to clients’ needs.

“Particularly in the area I’m in at the moment, a lot of the driver is around cost and how clients can save money,” Baker said.

“Claims is one of the areas they look at for that, and some insurers are looking at offshore.

“What we offer is the security of a London quality service, with the flexibility of the resources we have in London, and on the south coast of England, and in our other offices as well.

“It’s exciting we are pulling that together now in the past we were based in multiple offices in London; we are now in one base in EC3 which has really helped with collaboration across the group.”

He added that the company recently unveiled its new corporate identity, with the business split across three pillars: insurtech, claims services, and insurance management. It now aims to expand into its core markets.

“Another core element is the internationalisation of that business. There is a big opportunity within our business to operate at a much more international level,” he said.

“In what are potentially uncertain times, we are a business that can move quickly, and we are of a size where if the right people believe it’s the right thing to do, we can do it.

“Our larger clients might have to go through a very long-winded lengthy governance process to make something fairly simple happen, but they can give us that problem to solve for them very quickly,” he concluded.