SBS Group
SBS provides Digital Validation, Repair and Replacement services for Property Contents & Gadget claims and have a track-record of deploying digital solutions.
About SBS Group
The SBS proposition is fundamentally about 3 things:
- to streamline claims processes,
- improve customer service and
- reduce claims liability.
Operating in the UK and partnering with all the leading UK Household Insurers, SBS’s systems are highly portable as they actively explore new opportunities to build-out into Germany, Netherlands and Mainland Europe.
Since 2018, SBS have invested in Artificial Intelligence, 3D Printing, Self-Serve, Automation and System Learning to fuel business growth – SBS Group’s core proposition includes: validation, repair & lowest-cost replacement of all types of Property Contents, Personal Possessions & Gadgets – ranging from Carpet to Jewelry. IT to Smart Phones. TVs to Fridges to Sonos.
See SBS’s Anywhere Enabled Integration in our Content Exchange
About this Partner
- Artificial Intelligence – built into their core operating system. Using data analytics to identify legitimate claims, AI protocols to identify the lowest cost, fastest claims solutions based on the type of claim / commodity and whether the item is suspicious / legitimate and / or repairable.
- Digital Claim Solutions – slashing the average claim lifecycle for complex claims from over 28 days to just 4 days. With a Net Promoter Score of 80+%, the service is delivering very high customer satisfaction with over 90% of customers saying they’d recommend our services. From the insurer’s perspective, the cost-savings are substantial, achieved through reduced loss adjuster costs and inspection fees.
- Self-Serve – launched in Q1 2019, with encouraging results. Customer usage and opt-in c. 70%. Digital triage to streamline legitimate claims, whilst suspicious and high-risk claims are routed to expert claims handlers for further investigation.
- Easy, accurate validation of the item a customer is claiming for.
- Identification of the lowest cost like-for-like replacement.
- Automated triage to identify if an item is repairable and whether economical to repair.
- Immediate cash & digital voucher fulfillment solutions next-day delivery of replacement products
- Fraud & suspicious claim activities – algorithms picking-up on inconsistencies and concerns around the probability and plausibility of the claim.
- Recognized at a number of prestigious industry events over the last 5 years, including the British Insurance Awards and the Insurance Times Awards. Recent award successes are summarized below.
- Insurance Times – Tech & Innovation Awards 2020: Best Use of AI Winner, Best Use of Technology for Claims Customer Experience Winner, Fraud Solution of the Year Winner
- UK Gov – Trade & Industry 2020 Awards for Innovation: Business Impact Awards – CAD Design & 3D Printing Jewelry Insurance Claim Winner
- CII British Claims Awards 2020: Insurtech Award – AI Digital Claims Processes Winner, Outsourced Partner of the Year Finalist
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