RFI_00005_Third Party Administrators

Details

Over the past decade EQC has used lessons from the Canterbury and Kaikoura events to assess its response capability and capacity, and proactively consider potential models for responding to future significant events. EQC is transforming into an organisation that convenes, mobilises and activates a broader insurance response, with a central focus on the needs of the customer.

Historically EQC was not well positioned to respond to large-scale events in a way that provided an optimal customer experience. The model that was used in the Canterbury earthquake sequence created a dual insurance system whereby customers had to make two claims - one to EQC up to a capped level of damage, the other to their private insurer for top up cover losses.

There was no single point of contact or consistent process for navigating different types of repair, claims processes and paths to settlement. Customers also had to deal with multiple parties (EQC and private insurer) passing the claim back and forth. This caused considerable confusion, delays, costs and distress.

Under the EQC Target Operating Model, EQC will make better use of existing market infrastructure, competencies and investment to deliver services. On this premise, previous lessons learnt and the drivers for change see the need to have additional agents to support the customer journey.