SBS Group

SBS provides Digital Validation, Repair and Replacement services for Property Contents & Gadget claims and have a track-record of deploying digital solutions.

The SBS proposition is fundamentally about 3 things:

  1. to streamline claims processes,
  2. improve customer service and
  3. 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.

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Advantages
  • 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.
Features
  • 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.
Expertise
  • 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