Revolutionising travel insurance claims technology
Flexibility, adaptability, and scalability – keywords that really matter when it comes to system development
Lodestone offers a state-of-the-art travel insurance claims solution built on a modern and flexible web architecture using Microsoft stack for stability and scalability. Its user-friendly configuration capabilities ensure adaptability to various needs, whilst 330 APIs across the platform allow for ease of access to external services. The system is multi-tenanted, accommodating claims for multiple partner brands, and is adept at handling multi-currency, multi-language, and multi-country requirements.
Case Study 1 – Hollard Insurance (Australia)
Hollard Insurance company was named by the Australian and New Zealand Institute of Insurance and Finance (ANZIF) as Australia’s top general insurer of 2019. In 2017, Hollard began actively focusing on growing its travel insurance business, starting off small and partnering with a growing base of distribution partners.
Lodestone was able to provide an economical and yet efficient claims system that could integrate into the multiple different policy systems of its distribution partners. Our multi-tenanted Appsure platform allows for a fully branded customer experience at each touch point in the claims process; whilst all claims-related functions were managed by a single team on just one platform across two countries. In addition, a high proportion of claims are processed instantly to the point of payment by the platform’s high levels of automation and straight-through processing.
Head of Travel for Hollard Orion Riggs said of the integration: “Hollard prides itself on rapid innovation and customer service. Lodestone has been a terrific partner of ours on our journey. They have enabled us to grow our business rapidly by on-ramping new customers quickly and easily, and by providing a very good travel insurance claim system for our business. They develop rapidly, accurately and with minimal issues. Not only are they able to deliver what we ask for, they are proactive and bring with them market-leading ideas and capabilities, such as in claims automation and machine learning.”
Case Study 2 – Trawick International (USA)
Trawick International is a leading US travel insurance provider. They cover both US citizens travelling abroad, and foreigners visiting the US. Products include trip protection, trip cancellation, travel delay, and travel medical. Trawick International has been named one of the Best Travel Insurance Companies three years in a row by Forbes Advisor (2021, 2022, 2023).
Trawick International was using a combination of several software solutions to manage the total claims process. There were different solutions for travel claims, medical claims, correspondence, and customer service desk. Integration with external parties was limited, and in some cases very manual.
In 2021, Trawick International management saw a demo of Lodestone’s highly automated and integrated specialist travel claims solution and recognised the opportunity to extend the travel claims solution to also cover US medical claims. This was a challenging undertaking, involving integration to the US medical provider EDI network, as well as integrating to two medical cost containment services, OFAC control checks, and third-party payment services. All of these additional features and services were successfully achieved. This was made possible by the system’s modern architecture, which allows custom components to be added, and external services to be integrated seamlessly via API.
Lodestone Solutions aims to continue to lead the way in revolutionising travel insurance claims processing.
November 2023
Issue
In this issue of ITIJ we look at how software is changing insurance delivery for a new generation of travellers. We consider the importance of understanding local culture, and what can go wrong when you ignore it. We examine the challenges of China’s healthcare system, plus we ask if there should be an international standard in medical assistance. This issue we also look at the case for legal assistance for students, and finally, we give you an insider’s guide to Barcelona – home to ITIC Global 2023.
Lodestone Solutions
Lodestone Solutions is a Sydney based IT company specialising in insurance systems, machine learning and claims process automation. We are the provider of a highly regarded specialist travel claims system.
Lodestone’s client base includes leading travel insurance brands in Australia, New Zealand and the USA. Based on our recent successful expansion into the USA, in 2023 we intend to grow our client base in Asia Pacific, the UK and Europe. Our client support teams are based in Australia, the Philippines, Vietnam, India and the USA.
Lodestone is ISO27001 certified.
