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Recoveries Corp began its operation with a focus on insurance recoveries in 1991. It is Australia's largest insurance recoveries company by volumes referred, funds returned and boasts a client portfolio of tier 1 and 2 insurers including Allianz, CGU, GIO, IAG, Lumley, Suncorp, Wesfarmers and Zurich to name a few.
Recoveries Corp's commitment to its client's and to the industry at large was recognised again by the Australia and New Zealand Insurance Awards when it was named a 2010 finalist in the category of 'Service Provider to the Insurance Industry'.
Recoveries Corp specialises in claims recoveries and claim file audits (subrogation of losses incurred due to third party negligence) in the following insurance classes:
- Motor Vehicle
- Household and Commercial Property
- Construction
- Workers Compensation
- Liability - public, product and professional
Clients benefit from Recoveries Corps suite of flexible business services which can be employed as a stand-alone offering or a fully integrated end to end collection model.
- Claims recoveries on current portfolios
- Claims leakage reviews on current and closed portfolios
- Instalment management on current portfolios
- Consultative reviews of clients business processes, with recommendations on protecting against claims leakage and better managing the claims recovery function
- Performance reviews, with benchmarking against Best Practice and industry standards
- Recovery process management on an integrated management or outsourced provider basis
- Legal services, when needed, to enforce recovery collections through its incorporated legal practice, Mason Black Lawyers
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Why Major Insurers Partner with Recoveries Corp
Insurers recognise that Recoveries Corp has the systems, processes and expert staff to successfully manage their claims recovery results. Outsourcing the claim recovery process enables insurers to maximise their returns and markedly improve their bottom line without overloading internal resources.
Outsourcing to a professional recovery company gives insurers the peace of mind that the extensive and complex regulations under the Privacy Act and ACCC are being strictly observed by collections staff. It is also the solution to a number of challenges that are typical in the insurance industry and for those managing insurance claims:
- Recruiting, training and retaining quality staff
- Developing sophisticated IT systems
- Developing and maintaining quality processes and management systems
- Controlling costs and achieving efficiencies
- Implementing regular reviews and benchmarking their performance
- Ensuring their company culture is observed in the recoveries process
Clients who retain Recoveries Corp benefit significantly from:
- Recovery Corp’s 19 years of experience in the insurance sector
- The business vision, values and systems that have made Recoveries Corp number one in insurance recoveries
- A team of intensively trained insurance specialists and legal practitioners
- Infrastructure to support large contracts and large file loads
- Proprietary owned collection software and an IT business unit that can provide tailored solutions to each clients requirements
- Substantial investment in training supported by three full time dedicated training officers, an onsite training room, an intensive induction program and an RTO approved training program
- Quality Assurance (AS/NZS ISO 9001:2000), that ensures its processes meet government regulations and client specifications
- Complete transparency, with 24/7 client access to their files
Recoveries Corps reputation for reliability, efficiency, transparency and its value driven business model provides confidence to all clients partnering with Recoveries Corp.
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For more information about Recoveries Corp please contact 1300 663 060 or via webinfo@recoveriescorp.com.au.
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