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LMI to expand ClaimsComparison

LMI Group is to expand its website comparing insurers’ claims services, adding more than 20 classes including business interruption, directors’ and officers’, industrial special risks and business pack.

The ClaimsComparison site will now survey brokers, service providers and insurers’ customers to assess their claims experiences.

LMI founder and MD Allan Manning says these claims must be current or have been finalised within the last three months.

The site was launched last August with awards for home and contents, small business/farm insurance, private motor and private travel, using data from the Financial Ombudsman Service (FOS).

Professor Manning says the survey enables it to assess segments not handled by FOS, so more commercial lines, including professional indemnity and strata, can be covered – plus pet, boat and various motor classes.

Survey respondents will rate insurers’ performances in terms of speed – from acknowledging claims to final payment – proactivity, accuracy and fairness.

Professor Manning told insuranceNEWS.com.au he plans to link the site with LMI’s subscription-based PolicyComparison service, so brokers “will then be able to talk about the quality of the policy and the quality of the claims service”.

The separate ClaimsComparison site will continue offering free public access.