Airmic members want insurers to go extra mile on claims
Airmic members want their insurers to go the extra mile when it comes to customer service around claims, Zara Ismail, head of business development, claims, Liberty Specialty Markets, told a press conference at Airmic’s annual conference, being held in Edinburgh this week.
She also unveiled the findings of a new report, called Moving to pole Position: The future of claims (Pulse survey report). One of the key takeaways is that members want more than just money – they also want value, expertise and good communication through the claims process. “Claims teams should not only come to fore when there is a problem. They should be involved before that,” she said.
Airmic regularly conducts a series of pulse surveys among its members, to gauge insurance market conditions. Results from the latest survey conducted in May 2024, focused on claims, the results demonstrated how important claims service level are for Airmic members in choosing their insurer, and that they want the claims team of their insurers to be involved in the tender, quotation and renewal process.
Some of the other headline findings were that claims service level scores are important for more than half of respondents – insurers need to present and communicate them more clearly to buyers.
Third party administrators (TPAs) are valued for their specialist knowledge that could result in the best outcomes for claimants and their organisations.
Cutting edge technology can further automate the traditionally time-consuming claims process for all parties – but nearly three quarters of respondents are not prepared to challenge claims decisions made by artificial intelligence (AI).
The end of the current hard market cycle is in sight – but some lines of insurance such as property, casualty and motor are still seeing premium increases.
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