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Impact of direct settlement of motor claims on time and costs of compensation The case of Spain

Impact of direct settlement of motor claims on time and costs of compensation The case of Spain. ANA GARCÍA BARONA Technical and Reinsurance Director Consorcio de Compensación de Seguros Warsaw, 7 – 9 May 2008. C.C.S. Motor Vehicle Compulsory Insurance. CCS Functions and Coverage

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Impact of direct settlement of motor claims on time and costs of compensation The case of Spain

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  1. Impact of direct settlement of motor claims on time and costs of compensation The case of Spain ANA GARCÍA BARONA Technical and Reinsurance Director Consorcio de Compensación de Seguros Warsaw, 7 – 9 May 2008

  2. C.C.S. Motor Vehicle Compulsory Insurance • CCS Functions and Coverage • Motor Vehicles Registered • Claim Files • Claims Economic Cost • Sequence of Claim Management • Human Resources Cost

  3.  Public vehicles (on request)  Unaccepted (rejected) private vehicles DIRECT INSURANCE:  Unidentified vehicles(2nd Directive) Stolen vehicles(2nd Directive: optional) Uninsured vehicles (2nd Directive) Winding-up undertakings Disputed claims (Controversy) GUARANTEE FUND:  F.I.V.A. (Insured Vehicles Registry) Information Centre NON INSURANCE DUTIES: I. CCS Functions

  4. I. CCS Compensations

  5. II. Motor Vehicles Registered The estimate of vehicles in Spain in 2007, according to the Directorate-General for Road Traffic (Ministry for Internal Affairs) was: 29,700,000 (plus 2,500,000 scooters) (22,700,000 drivers)

  6. III. CCS Portfolio

  7. III. Total claims submitted

  8. III. Trend of claims submitted by category of insurance (year of recording)

  9. III. Breakdown of claims submitted by category of insurance, year of recording: 2006

  10. IV. Direct indemnities by category of insurance

  11. III. Breakdown of direct indemnities by category of insurance, year of payment: 2006

  12. IV. Trend of direct indemnities by category of insurance (year of payment)

  13. IV. Payouts by type of damage (payouts and accruals)

  14. IV. Breakdown of payouts by type of damage, year of occurrence: 2006

  15. IV. Breakdown of indemnities by type of personal injury, year of occurrence: 2006

  16. IV. Average direct-indemnity per claim

  17. IV. Trend of the average direct-indemnity per claim (year of occurrence)

  18. IV. Cost of sanitary assistance

  19. IV. Breakdown of the cost of sanitary assistance, year of payment: 2006

  20. IV. Cost of claim adjustments by category of insurance

  21. IV. Cost of claim adjustments by category of insurance (year of payment)

  22. IV. Cost of attorneys by category of insurance

  23. IV. Cost of attorneys by category of insurance (year of payment)

  24. IV. CCS Motor Vehicle Insurance Loss Ratio

  25. IV. Status of the claims submitted as of 31/03/2008

  26. V. Sequence of claim management, 2007 (days from occurrence, average)

  27. V. Average time lapse from occurrence to payment

  28. V. Average time lapse from recording to payment

  29. V. Average time lapse from occurrence to claim recording

  30. V. Average time lapse from recording to delivery for loss adjustment

  31. V. Average time lapse for loss adjustment

  32. V. Average time lapse for authorization

  33. V. Average time lapse from authorization to payment

  34. V. Average time lapse for recoveries

  35. VI. Human Resources, 2007

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