Our aim in establishing Xcelerate has always been to do things differently; to question the approach and methodology used in the recoveries industry today and make a conscious effort not do things a certain way just because that’s the way they’ve always been done.
We have designed and built our file management system called ‘Elixir’ from the ground up. The workflow is seamless: from a call centre environment, taking care of negotiations, settlements and disputes in liability and quantum, through to an in-house legal management team.
Our primary focus at Xcelerate is business interruption assessments and verification of third party demands.
Recovery potential will exist if a third party has acted negligently causing damages to a person and or their property.
Negligence operates very differently between motor vehicle and property claims.
It is much easier to determine liability in a motor vehicle accident – a third party’s negligent driving causes an accident resulting in damage. Classic examples are: hitting another vehicle in the rear; failing to give way at an intersection; reversing into another vehicle; and conducting a U-turn into the path of another vehicle.
There are occasions where there is insufficient evidence to determine liability and matters are settled on an each bear own basis.
Property claim recoveries are, by their nature, more difficult. The fact that a third party has caused damage does not mean that they have acted negligently.
Xcelerate has developed a methodology to ensure that the recovery process is as effective and efficient as possible. We have developed the systems to reduce recovery times and costs, and an employment model that ensures that we find and retain the best staff.
The process begins with the quick loading of new files into our system and actioned within 48 hours.
Rather than send countless letters that are often ignored, Xcelerate always attempts to contact third parties by phone. In fact we have strict staff KPIs which measure the number of calls our people can make in comparison to all actions completed. The aim is always to speed up the recovery by making contact with third parties – contact that can’t easily be ignored.
If we have had direct contact with a third party but the third party is ignoring our demands, we will recommend legal intervention with prior consideration of the claim value. Escalating a matter and forcing the third party to resolve the issue quickly has helped our clients to recover on matters that they would have previously written off.
While we always attempt to resolve matters amicably, we never hesitate to escalate a matter to legals.
Xcelerate has its own internal legal department led by a qualified Litigation Manager supported by para-legals. Prior to referral to Solicitors, the litigation team assess each file to ensure that we have sufficient grounds and evidence to commence legal proceedings. Xcelerate have developed detailed evidence and expert analysis checklists that drive our advice to clients and the litigation process.
An integral component of legal file management is to ensure that costs are always contained. Automatic warnings within Elixir ensure that we are aware as soon as the legal costs on a matter reach 30% of the claim value. We can then review the matter to ensure that it is not becoming uneconomical to pursue.
Xcelerate also maintains a single law firm in each jurisdiction. By referring all work through a single firm, we have managed to create greater economies of scale. Services levels are higher, response times a quicker and legal fees far easier to manage.
XIR maintains a strict training programme to ensure compliance with the:
XIR holds section 60 Trade Practices Act and professional indemnity insurance.
A third party has the ability to pay using:
Trust Account funds are disbursed on a bi-monthly basis. Trust funds are sent via EFT or cheque and include a cheque summary report and tax invoices for accounting purposes.