In this IIL claims presentation, Andrew King and Neil Greaves discuss how the claims journey changed for both insurers and insured during the pandemic. The discussion focuses on the changes adopted during the pandemic, the long-term implications and the future of the claims process.

Description

The world of insurance was not prepared for COVID-19, a pandemic that brought the world to a standstill. Although most insurance policies had limited cover, there were a large volume of claims that needed urgent attention and the restrictions in place and the volume of claims required adoption of new handling processes and implementation of new measures.

Claims were investigated remotely, policy cover had to be reviewed in detail and the claims process was automated due to the large volumes of claims. The presentation will discuss how these changes were adopted by both the insurer and insured and how this might impact the future of commercial claims.

Learning objectives

• What issues were faced in the claims process?
• How were these issues tackled?
• What lessons were learnt?
• What changes has this pandemic brought to the insurance market?

Speakers

• Andrew King ACA, FCILA, Retired, (Formerly Head Forensic Accounting Services – Global Technical Services, Crawford)
• Neil Greaves ACII, ACILA, Managing Director, Marsh