SCAP - one year in
SCAP one year in
The Single Claims Agreement Party (SCAP) clause has been available to the London Market since February 2018. The usage of SCAP has been analysed following 12 months of market adoption by brokers and carriers. Please find the insight below following data analysis in Q1 2019. The data is supported by common trends that have been identified following the analysis and market engagement.
SCAP Volume & Performance Analysis
SCAP performance – one year in
- there has been 2,015 SCAP claims notified in the last 12 months
- 63% of SCAP claims have been led by a Lloyd’s carrier
- there has been an average service improvement of 3.3 days across all classes
- the Robotic Process Automation (RPA) process, delivered in September 2018, has been enhanced and is now being applied to up to 70% of SCAP claims.
Any complex claim scenarios are being handled by an XCS FTE.
To find out more information with regard to SCAP analysis, performance and the RPA solution please refer to link below.
SCAP Automation - outstanding scenarios