Fairfirst Insurance settling claims in record time: Over 1,100 motor claims within one hour, every month

Fairfirst Insurance has introduced a revolutionary virtual assessment technology enabling policyholders to conduct a self-inspection of the damage virtually – by converting their phone camera into video mode, a company news release said.

“Today via (this technology), Fairfirst has become the fastest claim settler in the country by assessing and settling motor claims instantly, thus enabling the company to settle 1,100 claims within an hour and 1,800 claims within a day on a monthly basis,” the release said.

It explained the company believes its core job is to settle claims and it does so efficiently by being fair and fast in its dealings so that people can get back to their day-to-day life. At a time where customers are used to claims being predominantly handled via an assessor visiting the accident site, this proactive approach set new standards in the market.

“The company redefined the whole claim settlement process by completely eliminating the time wasted at the accident site waiting for an assessor. Further, it fast tracked the claim settlement process by providing instant claims,” the release said.

This hassle-free process starts by customers calls being answered in under three seconds by a 24/7 Call Centre to guide them on expediting their claims. Thereafter, the claims experts come onboard to take on the process of handling all claim intimations virtually.

“Therefore, in the unfortunate event of an accident, the customer has to contact the Fairfirst Call Centre on 0112 428 428 who will connect the call through to the claims experts to start a video-based assessment of the damage on real-time basis. As this process is done through the help of smartphones and data connectivity, a customer’s claim can be assessed and paid in full in less than 10 minutes, depending on the nature of the damage,” the release said.

It said additional value-added services provided include a 24/7 island-wide free Roadside Assistance Cover along with access to more than 100 EasyFix garages island-wide for cashless repairs that come with a warranty.

The release said despite being a relatively young brand, Fairfirst Insurance has secured a strong foothold in the market while leading digital disruption in the industry. As testimony to its innovation, Fairfirst Insurance was recently awarded the ‘Best Online Insurance Company in Sri Lanka’ at the Global Banking & Finance Awards 2020.

Fairfirst also achieved the distinction of being the only Sri Lankan company to be listed in the ‘2020 Top Insurance Workplaces in Asia-Pacific’ by Insurance Business Asia – yet another global recognition for Fairfirst in Sri Lanka and coming on the heels of the ‘Most Innovative’ award across the Fairfax Group of Companies located around the globe while also being featured as one of the youngest brands in the ‘Top 100 Brands Directory in Sri Lanka 2020’.

Fairfirst Insurance is part of the Canadian based Fairfax Group. Fairfax, through its subsidiaries, has an international insurance and reinsurance business with a global underwriting reach, longstanding relationships and a broad product range. Fairfax has a strong foothold in the growing insurance and reinsurance markets of Southeast Asia, Eastern Europe, the Middle East, and Brazil.