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Client Focus: Managing marine claims in one clear view

Steve Cloutman

Cargo_ship_claims_management

In the second blog post of our “client focus” series, we look at how Canon has significantly improved its claims management process with the use of Aon RiskConsole. Investing in risk management information software has enabled Canon to adopt a streamlined approach to managing claims across its European and Middle East operations, whilst enhancing visibility through one system and reducing claim lead times from three months or more to a maximum of 35 days.

RiskConsole case study: Canon

About Canon

Canon is a world-leading innovator and provider of imaging and information technology solutions for the home and office environments.

Facts & Figures

  • Canon Inc established 1937
  • Canon Europe established in 1957 
  • Canon Europe employees: 11,000
  • Serves customers in 110 countries across Europe, Middle East and Africa
  • Canon is listed on the Tokyo, Osaka, Nagoya, Fukuoka, Sapporo and New York stock exchanges
  • Canon Europe contributes approximately a third of the company’s global revenue
  • Consolidated net sales for Canon Inc. for the financial year 2013 totalled ¥3,731.4 billion (US $35.5 billion or €25.7 billion*)

Website address: canon.com

Why did Canon adopt Aon RiskConsole?

One of the most critical elements of Canon’s operational management is its claims process. In order to manage the claims workflow and provide greater visibility of all the claims across the European operations, Canon’s management team in collaboration with Aon, introduced a RMIS system, RiskConsole.

RiskConsole was implemented to achieve key goals that included:

  • Reducing the amount of claims information stored in separate spreadsheets and local databases around the world.
  • Identifying trends in loss faster, enabling the business to investigate unusual activity and take preventative action quickly.
  • And, improving visibility of European operations and link all claims data to specific products.

What were the business challenges facing Canon?

Canon typically encounters transport claims, with the majority associated with European outbound shipments moving from a regional warehouse to a final destination.

Prior to working with Aon, Canon’s claims process used a range of individual, separate and country-specific spreadsheets and local databases. Processes also differed from country to country, which meant that consolidating data and extracting useful information was time consuming and left the business vulnerable to human error.

In addition Canon also:

  • Relied heavily upon paper-based documentary evidence of Marine cargo claims.
  • Spent a lot of time trawling manually through filing cabinets filled with paperwork.

What results have been achieved from using RiskConsole?

Implementing RiskConsole has brought standardised claims management practices to Canon. With each country using the same system and inputting information in the same format, Canon has streamlined its claims processes across seven European countries and the Middle East, which in turn provides more insight and visibility of operations than ever before.

With everyone having visibility of the same data, the reaction times of the insurers is quicker and settlement is faster. For example, since implementing RiskConsole, Canon has:

  • Reduced the lead-time of insurance handling – from when the incident happened to when the insurance claim is settled – together with the associated administrative activity. Previously lead times could be three months or more, but now it is a maximum of 35 days.
  • Reduced the amount of time it takes for Aon to receive claim data from actual loss data, which has shrunk from an average of 131 days to just 21 days.

In fact, the process speed has increased so dramatically that there are even examples of claims being settled within a day. For example, the claim is entered in the morning by the local Canon representative, reviewed by Canon Europa in the Netherlands, processed by an Aon claims handler and settled by the insurer in the afternoon. Without a single database shared by all stakeholders this would not be possible.

  • Paperless processes have significantly improved the way in which documents and evidence is shared and the speed with which searches are performed and information located.
  • As well as the claims function, the data in RiskConsole is also used to facilitate other departments within Canon. For example, twice a month the accounts department receives an overview of the amount paid per country per product group for book-keeping purposes.

 Read the full case study

 

Steve Cloutman is the Managing Director of Aon eSolutions' Europe, Middle East and Africa operation. Steve is based in London and can be reached by email at Steve.Cloutman@ventivtech.com.

 

Mar 21, 2014

 | Originally posted on 

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