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Claims chiefs reveal reputation concern

Brand reputation, automation and straight-through processing are the top priorities for insurance claims leaders, a survey commissioned by the Lloyd’s Market Association (LMA) reveals.

It shows the highest priority for participants is their managing agency’s claims brand and reputation. More than 90% selected this as a top-three priority. 

Straight-through processing – particularly regarding delegated authority claims – is respondents’ second-highest priority, and automation is seen as an immediate necessity within market-wide modernisation.

“Canvassing the opinion of three-quarters of all heads of claims at Lloyd’s managing agents has clearly highlighted the challenges ahead and the pace of change being demanded of claims departments,” Tony Rai, Head of London Market Claims at Hiscox and Chairman of the LMA Claims Committee, said.

“The [claims committee] undertook this detailed study to gain a clearer understanding of the fast-changing claims landscape, which will enable us to prioritise our efforts to best support the claims community within Lloyd’s.”