Six months in to her role as SX3’s Head of Audit Services, Lorraine Bussey shares insights on the role, the industry and life in general.
What attracted you to SX3?
I had been a client of SX3 within my previous role and had always been impressed by their considerations around the importance and uniqueness of each client relationship, the strong desire to add value and the transparency of their approach.
How have you found the transition from permanent work at MS Amlin to the vicarious world of consulting with SX3?
It was a huge change coming from leading a cross class claims team within a large global insurer to being part of a management team of five, primarily home based (even allowing for Lockdown restrictions). SX3’s extensive experience in helping claims managers transition to consultants has been a great help.
I’ve enjoyed getting to know our associates and clients, working with them (though it would be nice to meet them on a non-virtual basis) and I am looking forward to continuing this during 2021.
Altogether, I have enjoyed the challenge!
What do you hope to achieve at SX3?
For me, it’s about building a business offering of continuous improvement and innovation in our audit model, driven by client needs, industry regulations and market practices.
You are very committed to delivering the benefits of audit. How does a successful Audit look to you?
At the beginning, it is vital to establish a very clear understanding of the whole process with the client, what they seek to achieve and to establish an agreed strategy.
For a successful Audit you cannot just look, you must actively listen. A strong communication process that includes regular dialogue with the claims team, be they internal or external, throughout the process. This is true to the end, when analysing results, determining outcomes and any future actions – it’s very much a collaborative process.
When I get the chance, I still like to roll my sleeves up and do some auditing myself.
How have you found Covid/lockdown?
Before taking on my current role, I had been auditing for SX3 and the first piece of work undertaken from home was somewhat surreal – I kept looking over my shoulder expecting to see other auditors and the claims handlers themselves close by!
Starting a new role has been interesting, meeting my colleagues and learning the ropes often over Teams calls. Regional lockdowns and the various tier systems were challenging in terms of where our associates live and where they could safely travel to for those audits which couldn’t be undertaken remotely.
On a personal level I did start a frenzy of keeping busy, even making crisps during week one, the novelty of which wore off very quickly. I have realised that arts and crafts are probably not for me.
What developments do you see coming down the line that will impact the Claims industry?
It’s a very complicated horizon to scan right now. With most new cars needing to be electric by 2030 this is very much one to watch in terms of insurance products available covering damage and liability risks, a supply chain that meets this and the associated costs involved.
Digital enhancements will, of course, continue, however the pandemic has unfortunately enabled fraudsters to devise yet more scams around test and trace apps and corona virus alerts, so I only envisage cyber risks becoming more prevalent and impacting upon type and cost of insurance cover available. I believe both availability and restrictions of cover will strongly influence claims coming through the digital door.
What is your perfect day off?
My perfect day off would be a quarantine free one, visiting places and people I haven’t seen for quite some time. I love walking and writing, I have a few short stories and a hint of a novel on the go right now.