1. Claims Service:
Background
Munich Reinsurance Company of Africa Limited has been operating in South
Africa for more than 40 years, although the Munich Re (Group) was active in the
Continent, via Munich Re in Munich, for some years prior to commencing the
Southern African operation in Johannesburg in 1968.
The Head Office of Munich Re in Africa is in Johannesburg, South Africa, with
a client service Life office situated in Cape Town. In 1997 Munich
Mauritius Reinsurance Company was established as a wholly-owned subsidiary
of Munich Reinsurance Company of Africa Limited, in order to best cater
for our clients across the Continent and the Indian Ocean Islands. Munich
Re, Mauritius, based in Réduit in the business hub of Mauritius, has Client
Management offices in Accra – for West Africa - and Nairobi – for East Africa.
What we
do best.
Create competitive
advantage
Deliver service
and
solutions
Leverage the strength
of
Munich Re
FAQ’s About Munich Re’s Claims Service:
Reuben Chikudo, Non-Life Claims Manager
A1:
Munich Re’s claims philosophy is that we “pay what we owe” and settle all
valid claims efficiently and effectively. When we assess incoming claims, we
proactively look for reasons to pay and pay quickly. We value the quality of
service to our clients by being solutions oriented. Our interaction and inter-face
with clients is consistently professional, courteous and polite.
With our head office in Mauritius, supported by our client management
offices in Nairobi, Kenya and Accra , Ghana, we are closer to our clients to
allow us to deliver a claims service at international best practice to our
clients all the time. This diverse network distribution also enhances our
feedback and communication channels to the benefit of our clients.
A2:
Cash call requests supported by all necessary documents, require special
attention and Munich Re settle these immediately and not later than five(5)
working days. Clients have the security and comfort that Munich Re has the
ability and willingness to make all urgent payments on demand.
Normal claims are also settled quickly and not later than ten(10) working
days. Munich Re’s continuous improvement investment in technology
resulted in the claims Electronic Approval Process(EAP), recently rolled
out, which will certainly shorten settlement turnaround times to the benefit
of our clients.
However, with respect to more complex and large losses, Munich Re takes
proactive initiatives to partner our clients as value-added consultants for a
smoother claims management process, including experts panel identification
and recommendations, reserving, interpretation of policy wordings and
clauses as well as continuous improvement reviews, etc
A3:
Initial acknowledgement of all correspondence and communication, is done
within 48 hours. This is followed by a more substantive response within
five(5) working days towards the satisfactory resolution of the claim. Munich
Re uses all modes of communication including telephone, e-mail, post and
meetings, and often a combination of these, as appropriate. We give
regular feedback to our clients on the progress of claims.
A4:
Munich Re appreciates that clients are looking for sustainable results from
their claims operations that can simultaneously support growth, service and
profitability(Value!). Munich Re’s claims service, is a value creator and busi-ness
enabler, aligned to support these key objectives.
Q1:
What is Munich Re’s
claims philosophy?
Q3:
What about Munich
Re’s response times?
Q5:
What other claims
services does Munich
Re offer to its clients?
Q4:
How can Munich Re’s
claims service support
clients’ growth and
profitability goals and
objectives?
Q2:
How quickly does
Munich Re settle
claims?
A5:
Munich Re offers the following free value-addition services, thus enhancing
our opinion leadership and visibility to our clients:
