Over the last 12 months the general insurance market has been tested to the maximum dealing with the...
Over the last 12 months the general insurance market has been tested to the maximum dealing with the volumes of claims following the flooding events of 2007. It has been a time of great challenge in the claims industry, but also of innovation.
While the claims industry, and loss adjusters in particular, have been focusing on delivering the insurance product to all those affected by the flooding, they have also needed to continue to deliver to the many thousands of policyholders following the usual range of incidents.
Looking forward, the insurance industry is facing up to the changed economic circumstances, which put an even greater emphasis on efficiency, productivity and value and as a result, most insurers are implementing radical, structural changes across their businesses.
Consequently, insurers are generally reviewing their strategies and seeking to improve the efficiency of the claims process, both to reduce costs and increase the quality of service to the policyholder.
In this climate of change, we are continuing to innovate to bring forward more relevant and higher value initiatives to meet the twin challenges of efficiency and cost control, and to meet the increasingly diverse needs of the market.
It is likely that 2009 will see an increase in general claims activity as the pressures of the current economic downturn impact. All in all, the next 12 months promise to be just as challenging and interesting as last year.
We are pleased to be sponsoring, yet again, Post's UK Loss Adjusting supplement. We look forward to learning the lessons of the various flood reviews that are in progress, conscious of the fact that although, overall, the industry performed very well, there are always improvements to make.
We also look forward to seeing how our competitors did and how the market has developed in light of an unprecedented range of challenges.
We hope you find the supplement informative and interesting.
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