Magicman in LV= deal

Magicman are extremely proud to be awarded a 2 year contract for surface repairs with LV= (Liverpool Victoria) and look forward to working with the prestigious insurer. This is the second contract Magicman have won with a major insurance provider in the last 6 months. Demonstration, if such were needed of the now proven cost savings and reduced claim cycle times that are achieved when choosing Magicman’s repair methodology over goods replacement or cash settlement.

Chipped, dented, scratched, worn, burnt, cracked, holes, scuffs, splits and stains are just some of the key descriptors for our service which when used with word recognition software enable fast and accurate assessment of claims.

The benefits of this new and innovative approach over traditional replacement or cosmetic repairs have become increasingly attractive to insurance companies looking to make significant cost savings. In one claim Magicman were able to reduce estimated replacement costs of over £300k down to £10,000. Average savings over replacement are between 50% and 80%. With other major insurers either currently in or seeking to start proof of concept trials with Magicman, LV= will surely not be the last.

Claim cycle times are significantly reduced by repairing damaged items in situ instead of sourcing replacements. The claim cycle is further reduced by the use of Magicman’s intelligent app (available on smart phone, tablet or desktop) to review damage remotely. This app eliminates the need for inspection attendance in over 95% of cases making claim validation almost instant. Another significant benefit of the app is its ability to identify fraud by analysing the photographs signature data enabling exact location details, time and date of the picture.

Magicman’s delighted CEO Mark Henderson said:

“After almost 12 months of trials I am both pleased and grateful that LV= have now committed to move our relationship on to a permanent footing. I believe that Magicman have demonstrated over time how our bespoke solutions have helped to reduce average claim values. By working in partnership and understanding other perils we hope to design and implement further claim cycle benefits in the future for other parts of the insurance business. It feels like the insurance industry is on the verge of a major change in how claims are resolved, and Magicman is right at the centre of this process. It’s a new and sustainable way of conducting business. These are exciting times for us.”

Magicman would like to thank Ulrike Lucas (Sourcing & Supplier Manager) and the senior management team at LV= for all their hard work and encouragement over the past 12 months and for helping to bring this deal to a successful conclusion.

#magicman #insurance #LV #londonvictoria #damagerepair #worktops #kitchens #bathrooms #floors