March 2021 Covid-19 Client Update
31 March 2021: Welcome to the latest (and hopefully last) edition of our Covid newsletter. Whilst the great majority of our staff remain home based and we continue to use video technology to support our adjusters, the content is focusing on the fact that some form of return to pre-Covid life is, potentially, not too far off.
However we cannot be complacent or assume that our working practices will not continue to be affected for some time – indeed our vrs partners in Europe are suffering a third wave and international travel is likely to remain greatly restricted for some considerable time yet file.
Whilst recent developments indicate that the government Covid route map will be achieved, the focus of QuestGates throughout the pandemic has been, and will remain, to maintain our high levels of service whilst recognising and seeking to alleviate the impact on the health and mental welfare of our staff, clients and their customers. We will however continue to monitor the position and keep everyone advised of any actions that we need to take in response to the ever changing landscape in which we find ourselves.
I Love Claims – Environmental Webinar
QuestGates has been a long-term supporter of I Love Claims and we are delighted to have become the platinum sponsor of the latest I Love Claims webinar series, which spotlights the specialist areas of both Environmental and Agricultural claims where QuestGates are a market leader.
With both of these specialist areas continuing to adapt to change as a result of legislative, political, economic, climate and technological transformation, the webinar series is a great opportunity to share knowledge and hear from experts across the insurance sector on how the industry has adapted and continues to adapt to the challenges posed by these claims and their impact on wider society.
The first webinar of the series focused on environmental claims and the risks, exposures, legal and regulatory issues that these claims can present.
There was representation on the panel from an underwriting, claims, legal and remediation perspective which resulted in some really interesting discussion around policy coverage, cost, the customer and service. The feedback from the first webinar has been excellent and will be followed up upon in the next Webinar “The Changing Face of Environmental Claims” which is due to be broadcast on 8 April at 11am and will focus on current and future considerations for the sector and how this could impact customers, brokers, insurers and the claims community.
Attached is a link to register for this webinar: https://us02web.zoom.us/webinar/register/WN__jXB-n3sTGaB8jk6QZ-FIA
The series will continue to broadcast every two months throughout 2021, future sessions being:
May: “EIL and Agricultural Pollution Claims”
July: “Agricultural claims – a niche area of insurance specialty”
September: “Agricultural Claims – responding to and leading change”
The final webinar in November will showcase a complex Agricultural EIL claim and be used to illustrate the various issues that have been discussed throughout the series. We will update you on the detailed content of each webinar prior to broadcast throughout 2021 and encourage you and your colleagues to watch each webinar or even consider participation!
2021 BIBA Conference is coming
This year we will be attending, as scheme providers, the virtual BIBA conference, which is being held on 12th & 13th May. We are proud to have been selected as BIBA’s preferred supplier of valuation services for the last eight years and we look forward to advising brokers on how we can help to ensure their clients maintain correct sums insured on Buildings, Plant, Machinery and all Other Contents, Business Interruption, Fine Art, Jewellery and Antiques.
The theme of the conference, Strengthening Resilience, represents the strength and determination of the insurance sector and will feature in much of the keynote and seminar discussions. After the year we have all had, bouncing back by minimising risk is a key focus of ours, particularly our continuing drive to eradicate under insurance.
You can register to attend the conference by clicking below:
https://www.biba2021.co.uk/
Also, Alistair Steward, Matt Wade and Lucy Simpson will be attending the conference on behalf of QuestGates and if you would like to arrange a virtual meeting with us at BIBA, please contact us below on:
alistair.steward@questgates.co.uk
matt.wade@questgates.co.uk
lucy.simpson@questgates.co.uk
Forum of Insurance Lawyers
‘We are proud to announce that we have become a Trade and Industry Partner of the Forum of Insurance Lawyers (FOIL). We recognise the core aims of FOIL mirror those of ourselves with an emphasis on promoting best practice within the Insurance profession. FOIL has long been recognised as a voice for the Insurance community and we clearly understand the benefits of becoming their Trade and Industry Partner, for us and for our clients and their customers.
Many of the issues which FOIL are engaged in are central to the complexities within our own claims handling functions. With the current growth of our Complex Loss and other specialist claims divisions in mind, this gives us the opportunity to review and consider consultation response to key areas within the industry. By working alongside FOIL we look forward to assisting strengthen and develop their aim to shape public policy and endorse best principles and practice, for the benefits of members and their clients’.
Real Estate Update
Despite the current challenges presented by the hard market and Brexit, the QuestGates European Real Estate division continues to prosper. Since joining the vrs network in late 2018 as the UK & Ireland representative, this organisation has given us the platform to become an International Loss Adjuster, and through the development of their new European claims management system – COP, we can now extend our full services to continental Europe.
As a result, we have forged some great partnerships with many of the key UK and European Real Estate brokers, underwriters, MGA’s and Insurers and have won over 40 new accounts since Lockdown 1 last March. These clients extend themselves from flagship Skyscrapers in the City of London, UK & European Regional Shopping Centres, Luxury Flats & extensive industrial estates throughout the UK & continental Europe – a full offering of everything “Real Estate”.
Much of the market commentary is focused on what a post Covid world will look like for the Real Estate sector, with speculation on potential negative impacts on commercial properties given the move for increased homeworking & lease breaks within tenancy agreements. This is one of the reasons why we need to keep strongly focused on the clients we have won and are working with. In this respect we have invested and created a UK & European Real Estate claims handling team, offering a “One Stop UK Shop” for all things “European”. We also now have an agreed Claims Procedure Manual to ensure full consistency of operation across the whole of Europe which we manage through our arrangements with vrs Partners. The flexibility of QUBEConnex and COP enable the delivery of bespoke MI suites in multiple currencies, as per the client requirements in “real time data” and we strongly believe that our outstanding claims management services and MI delivery can only help our clients retain/win new business.
Both pre Covid and post Brexit, a flow of investment into major European cities has continued, so the opportunities are still very much alive for further growth as long as we continue to do all the right things.
Underwriters are continuing to push for rate uplifts which means our clients will look all the more closely at the claims service they receive and expect a clear demonstration of value. vrs QuestGates are now regarded as a “key” Real Estate player in both in UK and Europe and that is down to the hard work and service delivery which has been executed by all of our claims handlers and adjusters over the past couple of years.
Sustainability
Our target is to be carbon neutral by 2027 and we aim to achieve this through a combination of internal initiatives such as driving digitalisation and our engagement with suppliers to look at new, innovative building techniques and reducing landfill waste.
Recognising the role that we all play in ensuring that we leave the world a better place than we found it we launched our Environmental & Sustainability Plan in 2020 and we have set ambitious environmental goals to ensure continuous improvement. Our key targets to achieving this include:
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15% reduction in travel by driving digitalisation to maximise positive impact on the environment.
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Agile and flexible working with a target of 75% of workforce homeworking.
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30% reduction in energy use.
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25% reduction in landfill waste from building repairs couple with “smart” building repairs.
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Process enhancements to ensure 100% reduction in use of paper.
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20% increase in use of electrical vehicles
Of course, any change has to be meaningful, so we are in the process of considering proposals from specialists in this area to act as consultant and help ensure compliance with our published aims.
Sustainability
Our target is to be carbon neutral by 2027 and we aim to achieve this through a combination of internal initiatives such as driving digitalisation and our engagement with suppliers to look at new, innovative building techniques and reducing landfill waste.
Recognising the role that we all play in ensuring that we leave the world a better place than we found it we launched our Environmental & Sustainability Plan in 2020 and we have set ambitious environmental goals to ensure continuous improvement. Our key targets to achieving this include:
-
15% reduction in travel by driving digitalisation to maximise positive impact on the environment.
-
Agile and flexible working with a target of 75% of workforce homeworking.
-
30% reduction in energy use.
-
25% reduction in landfill waste from building repairs couple with “smart” building repairs.
-
Process enhancements to ensure 100% reduction in use of paper.
-
20% increase in use of electrical vehicles