Derek Martin a senior member of Zurich's Asia-Pacific claims team talks to Post ahead of his speaking slot at the Claims Conference Asia - Singapore.
Post: Describe your role
Derek Martin, pictured: As chief claims officer for global corporate, Asia-Pacific and chief technical officer GI claims, Asia-Pacific my role involves the provision of strategic, technical and market facing claims leadership, coordination, direction and support across all lines of our GI business.
This involves the technical oversight of large losses, attritional losses, case reserving and exposure management. This includes the provision of financial authority, technical talent development and training, industry representation and the implementation of best practices across all Asia-Pacific countries.
I work closely with the regional underwriting and distribution teams. I'm based in Sydney but am on the road every other week travelling to our businesses throughout Asia - in particular to China, Hong Kong and Singapore.
What do you enjoy about your role?
The people and the diversity. We assist people and businesses in their time of need, this is both challenging and rewarding.
Where can the claims process be improved?
The claims process could benefit from a healthy investment in new technological platforms that could operate without borders to create a scalable and more efficient workforce, serving our customers 24/7.
Claims still requires more visibility and relevance as a factor when customers and brokers place business. We need to continue to invest in our claims people and look at ways to attract some of the talent that goes elsewhere in the financial services arena.
What do you like about Singapore?
The opportunity in the insurance space and Zurich's Singapore team.
Derek Martin is a keynote speaker at the upcoming Claims Conference Asia - Singapore on 10 September. See here for more details.
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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