Insurance Ireland members, who account for more than 95% of the domestic insurance market and more than 80% of international life market in Ireland, share knowledge, operational excellence, analytics and more at one place with the objective of delivering efficient operations for the insurance industry.
Shared Services at Insurance Ireland brings its members together to address industry issues on a shared platform. These include:
Research & Statistics
The provision and publication of research, statistics and data analysis is an important part of Insurance Ireland's work and regularly market level information, summaries, reports and data analysis are being provided to Insurance Ireland's members, Central Bank of Ireland and other governmental and non-governmental organisations.
Insurance Ireland members provide to Insurance Ireland by agreement and to the Central Bank of Ireland as a requirement, large quantities of data concerning their business. These data include sales, complaints, claims, premium income all broken down by insurance-category type and by product.
Information received by the Central Bank of Ireland is used to monitor sales and complaint trends within the industry so that it can ensure that its regulatory and supervisory policies remain appropriate.
Information received by Insurance Ireland is used for a number of purposes that are key to the proper functioning of the insurance market in Ireland.
Information relating to claims is shared on Insurance Link, a shared industry database that allows (subject to the Office of the Data Protection Commissioner Code of Practice for Insurers) its users to compare recorded claims with claims history information provided by new claimants against policy-holders. The purpose of Insurance Link is to ensure that information about claims provided by claimants agrees with the information on the database. This is essential to protect claimants by ensuring that correct information about them is held on the system and to protect policy-holders against fraudulent claims.
Integrated Information Data Service (IIDS)
IIDS is a shared members' database that, by arrangement with the Department of Transport, allows its users to confirm the accuracy of penalty point and no-claims discount information provided by customers when they are seeking to renew existing or taking out new motor policies.
Three of Insurance Ireland’s health insurance members – Aviva Health, Laya Healthcare and Vhi Healthcare – have established a standard for the electronic submission and remittance of claims in the private health insurance market. Working with healthcare providers and representatives bodies the aim is to streamline the administration of claims processing throughout Ireland’s healthcare system. The new standard has been published on www.ehealthclaims.ie.
Automatic Number-Plate Recognition (ANPR)
ANPR is a centralised database of all insured vehicles that allows the Garda Siochana to confirm the insurance status of any vehicle. The ANPR is already reducing the cost of motor claims in Ireland.
Insurance Ireland - The Voice of Insurance