SYSTEMS AND SERVICES TO CONTROL INSURANCE CLAIMS COSTS AND PROCESSES

FOCUS

Concourse’s prime focus is to provide insurers and intermediaries with:

  • the services and
  • the systems

to control

  • claims costs and
  • processes

in the intermediated short-term insurance market.

OWNERSHIP AND STRUCTURE

Concourse is independently owned.

Concourse owns the following well-established businesses:

  • Auto Salvage Management (Pty) Ltd - Motor salvage
  • Oxford Claims Services - which incorporates:
    • Oxford Claims Support Services (Proprietary) Ltd - Motor assessing
    • Oxford Claims and Legal Services (Proprietary) Ltd - 3rd Parties/Recoveries
    • Oxford Claims Procurement Services (Proprietary) Ltd – Procurement
    • Oxford Loss Adjusters (Proprietary) Ltd– Loss Adjusting
  • Concourse IT Solutions – which incorporates:
    • Concourse IT (Proprietary) Ltd - IT systems for the intermediated market
    • Aqute Business Intelligence (Proprietary) Ltd - Extract, Transform and Load System
SKILLS

Concourse Group companies have, over the past several years, developed specialist systems, skills and controls to service the short-term insurance market where intermediaries administer insurance policies on independent systems under binder/outsource arrangements.

Concourse offers a solution to the battering which has been inflicted by direct insurers on the intermediated segment, which is under siege. It is staffed by an experiened and dedicated management team.

MARKET SEGMENT

The segment which the Concourse Group services, represents approximately 25% of the short-term market in South Africa and is plagued by:

  • Lack of control
  • Mispricing and
  • Uncontrolled claims costs.
As a result, the segment has suffered poor underwriting performance and several players have recently withdrawn from this segment.

FACILITIES

Concourse operates from:

  • Its head office at Telford Street in Industria, Johannesburg which incorporates:
    • a 10 000 square metre salvage facility and
    • the offices of Oxford Claims Service
  • Branches in
    • Cape Town
    • Durban and
    • Pretoria
  • The offices of Concourse IT in Melrose, Johannesburg.