New Property Insurance Platform Identifies Indemnity Claims Leakage

Global insurers can effortlessly improve the accuracy of property damage estimates and payments, reducing account-level loss ratios.

SPARTANBURG, S.C., Oct. 24, 2023 /PRNewswire/ — Insurtech, Loss Data Solutions, LLC has developed an automated platform that UK-based syndicates can use to control indemnity claim leakage, a major driver of costs.

Tony Scow, co-founder of Loss Data Solutions, says the idea was sparked after a meeting with a leading Lloyd’s syndicate. The syndicate focused on managing subrogation, legal spend, and loss-adjusting expenses but not on managing indemnity claim leakage. This was a problem because indemnity claims leakage – i.e., over- and underestimating property damage – is a significant cost driver.

“In the U.K., delegated claims administrators (DCAs) typically review loss estimates line-by-line. Unfortunately, their experience can vary. This can lead to inaccurate estimates, which are often accepted without a thorough review,” Scow says. “In the U.S., insurers commonly use consistency guidelines when estimating property damage. By bringing this capability to syndicates in the UK, Loss Data Solutions enables more accurate indemnity payments,” he adds.

The process is simple. The DCA’s claim examiner sends a property damage estimate to Loss Data Solutions for an automated review that compares the estimate against a proprietary ruleset. Within just a few minutes, the claim examiner receives a red-lined estimate that identifies any line items outside of established guidelines. For example, the program can suggest missing items, flag measurement and quantity errors, and suggest alternative line item usage. The examiner then revises and resubmits the estimate.

The automated estimate review increases DCA oversight while reducing DCA expenses associated with a line-by-line review and avoiding potential indemnity leakage. The result is improved account-level loss ratios. In a sample of 1,000 estimates from claims closed in the last 24 months, the estimated total came to $112,097,466 and the potential leakage came to $11,349,838, or 10.12% of the total.

In addition to proof-of-concept results, Loss Data Solutions has also completed a very successful pilot and is in the initial implementation stage with multiple Lloyd’s based syndicates.

Loss Data Solutions captures data from both estimate submissions to provide clients with an interactive Power BI Dashboard. The syndicate can analyze the data, and the DCA receives performance and participation feedback. The Power BI Dashboard data is available before bordereaux submission and is also useful when evaluating reserves.

About Loss Data Solutions:

Loss Data Solutions, LLC was co-founded in 2022 by Tony Scow, a patent-holding insurtech entrepreneur who, along with the rest of the Loss Data Solutions team, leveraged decades of field adjusting and third-party claims experience to build a process that enables global syndicates to take control of indemnity leakage in property claims. For more information, contact Tony Scow at
 or +1 210-862-6407 or visit

SOURCE Loss Data Solutions