Press Releases
Private & Business Motor - Processing enhancementsMedia Release - 15 february 2005
Competitive Rates In 2005, and the years ahead QBE Commercial are working on removing the 'roadblocks' in personal lines insurance. We have introduced competitive rates, competitive products, great claims service, systems enhancements and fewer referrals. Think "QBE Commercial - Private and Business Motor" when quoting motor business - you will be pleasantly surprised.
Referral Reduction We have become aware that one of the main causes of referrals in c.change/Sunrise is the selection of miscellaneous accessories (MSC). As you know, when MSC is selected it triggers a referral back to QBE Commercial for assessment - this takes up valuable time for both QBE Commercial and the Intermediary, and in many cases the referral is unnecessary.
To resolve this issue we have implemented a more concise accessory list, so there are more to choose from and less need to select MSC. By using these new codes we can reduce the level of referrals by over 40% - saving you and us a lot of wasted processing time.
Please refer to the attached list for the additional accessory codes.
We are also working on further refer reduction initiatives relating to vehicle age, driver's age and vehicle value/accessory value percentage leeway. We will inform you via eXcelerator when these changes will also be implemented.
Protected NCB on New Business
We recently made changes to the way the Protected No Claim Bonus works on new business. You will see this change when you process new business, as below:
- Instead of the current question saying "Protected NCB", the question will read: "3 years, no at fault claims, protect NCB?".
- If you want to protect the NCB, and that client has not had any at fault claims for 3 years, select YES.
This change applies to all motor products, including farm, where sedans, 4WD and vehicles under 3000kg GVM are written.
The new text applies to the "Confirmation of What You Told Us" document (MPA only) and the Quote Letter (all motor products).
Note: There is no change to schedules or other printed documentation. The new text applies to all transactions including Quotes It does not affect any Commercial Motor products.
If you have any questions about the changes, please contact your local QBE Commercial Representative.