Property insurance platform identifies indemnity claims leakage


The platform automates the review of property damage estimates, comparing them against a proprietary ruleset to identify any line items outside of established guidelines.

Indemnity claim leakage occurs when property damage estimates are inaccurate, resulting in overpayments or underpayments to policyholders. Various factors, including human error, lack of expertise, and inconsistent application of guidelines, can cause this.

LDS’s platform can help reduce indemnity claim leakage by improving the accuracy of property damage estimates. The platform can identify missing items, flag measurement and quantity errors, and suggest alternative line-item usage. This helps claim examiners produce more accurate estimates, leading to significant cost savings for insurers.

In addition to improving the accuracy of estimates, LDS’s platform also helps to reduce DCA expenses and increase oversight. The platform automates the line-by-line review of estimates, freeing up claim examiners to focus on other tasks. The platform also provides DCAs with performance and participation feedback, which can help them to improve their operations.

Multiple Lloyd’s-based syndicates are already using LDS’s platform. In a sample of 1,000 estimates from claims closed in the last 24 months, the platform identified a potential indemnity leakage of 10.12%.

Benefits of LDS’s platform for UK-based syndicates:

  • Reduced indemnity claims leakage
  • Improved accuracy of property damage estimates
  • Reduced DCA expenses
  • Increased DCA oversight
  • Enhanced reserve evaluation

LDS’s property insurance platform is a valuable tool for UK-based syndicates looking to reduce indemnity claim leakage, improve the accuracy of property damage estimates, and reduce DCA expenses. 

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