- FCA’s Business Interruption test case result-a reputational challenge for the insurance industry
- CII Forum to ensure insurance meets expectations of consumers
- Swiss Re introduces triple-digit internal carbon levy to support transition to net-zero emissions in operations by 2030
- Munich Re US white paper wants to know: "Can We Use Lessons Learned from COVID-19 Pandemic to Mitigate the Risks of Climate Change?"
- Aviva to sell a majority shareholding in Aviva Singapore to a consortium led by Singapore Life-but retain 25% shareholding
- Insurance Europe publishes response to a consultation by the EIOPA on the (re)insurance value chain and new business models arising from digitalisation
- Latest IDF report demonstrates the power of innovation and technology in closing the protection gap at micro-level expired
- Sasria chooses Guidewire to support strategic business objectives expired
- Old Mutual upgrades to new SSP Insurance Platform in Zimbabwe expired
- Xceedance and Oasis LMF offer on-demand exposure analysis services for US earthquake, flood, and hurricane catastrophe models expired
- Insurance Europe publishes its high-level views in response to a consultation by the EC on an intra-EU investment protection and facilitation initiative expired
- Lloyd's appoints Schoberth as US Market Development Director expired
25th March 2020
CII advises on how to prepare for claims surge
How insurers should prepare for surge events by identifying seasonal patterns of activity is covered in the latest Society of Claims Professionals good practice guide.
As the profession faces a surge in claims as a result of the coronavirus pandemic, the Society published the guide which details how insurers should establish a “Surge Group” to be adequately prepared for surge events and maintain service.
The guide details six activities which must be actioned when handling a dramatic increase in claims activity: These activities are:
1.Use predictive data wisely.
2.Manage staff levels appropriately.
3.Get in the mindset of the customer.
4.Identify at-risk customers.
5.Provide accessible and consistent information.
6.Follow-up with a post-surge service.
Jeremy Trott, non-executive director of the Society of Claims Professionals, comments “The sudden outbreak of the coronavirus pandemic took a lot of us by surprise, but it has served as a reminder to the insurance profession that we need to be adequately prepared for the unexpected.
“It is during times of public concern that the role of the insurance profession becomes the most important to the public. It is vitally important that insurers remain in a constant state of preparedness for a surge event so that our clients can be helped as quickly and effectively as possible.”
For more information, and to read the full Good Practice Guide, please visit: https://www.socp.org.uk/learning/learning-content-hub/articles/surge-events/91218
CII Trends(290 articles)