HDI Global has showcased development of a new initiative to help streamline small value claims.

The project aims to address issues surrounding growing costs, increased workloads, and other challenges.

Claims Manager for Property and Operations Natalie Storer says low-value claims can be easily processed.

“Low value claims are a fact of life, but they don’t have to be difficult or slow,” she said. “The key to streamlining these claims is knowing what information is required and having a dedicated submission system.”

HDI Global estimates that up to 60% of the insurer’s current claims are small claims valued below $10,000.

Despite the small value, the quantity of claims has required HDI Global to bring in new approaches to facilitate them.

As proposed, HDI’s Fast Track claims will target low-value marine and property claims.

“We are planning to go live in June with a dedicated channel for claims submission and dedicated claim handlers,” Ms Storer explained.

Described as a “work in progress", HDI Global expects to expand plans with online lodgments and automated payments mentioned as ways to further reduce the length of time for claims to be processed.