Case Studies
- Case Study - Reinsurance Collections: An Australian insurer requested 3red's assistance with reinsurance collections from worldwide reinsurers. 3red contacted seven target reinsurers located in Europe, Asia, Middle-East and Australia and successfully negotiated collections totalling over A$18,000,000.
- Case Study - Claims Operations Management Assessment: A financial institution based in Australia requested the services of 3red to assess the management operations of their outsource provider of claims management. 3red developed a good relationship with the outsource provider to gain an insight into their management operation and audited a number of claims files. 3red's assessment of the outsource provider's operation provided the client insurer with the information to negotiate a better deal on the cost of claims management when the contract was renewed.
- Case Study - Run-Off Operations Management: Since its inception in 2006 3red has managed all aspects of the run-off of Reinsurance Australia Corporation, now Calliden Limited. 3red has successfully managed the run-off to a stage where the administration has now been returned to Calliden. 3red continue to provide advice and assistance to Calliden on one-off issues where required.
- Case Study - Run-Off Management: 3red was engaged by an Australian insurance company to review and provide advice and assistance in relation to a legacy portfolio of inwards reinsurance business, which has been in run off for many years. 3red conducted a full review of the portfolio and followed up with reinsurers. The outcome of the review allowed our client to book substantial savings at the end of the financial year. 3red have since been engaged to assist with the negotiation of commutations with reinsurers where appropriate in order to bring the old reinsurance book to a close.
- Case Study - Claims Inspections: 3red was initially engaged by a reinsurer to conduct a claims inspection of a ceding Australian insurer in 2006. 3red has developed an excellent relationship both with our client and the client's ceding insurer. 3red have worked in collaboration with the ceding insurer to improve existing claims management procedures. The client reinsurance company has continued to engage the services of 3red over the years to conduct further claims inspections.
- Case Study - Claims Inspections: 3red has been engaged by a London reinsurer to conduct a number of claims audits on various Australian insurers. 3red work very hard to develop professional and collaborative relationships with our client's clients. We have successfully conducted audits allowing substantial savings for the client and continue to be engaged for further work.
