Latest Insurance
- S&P Global reports says reinsurers were left wanting more despite global reinsurance pricing gains at January renewals
- Bloomberg Intelligence report indicates US BI claims trial cases direction
- Insurance Europe publishes response to EIOPA on a potential methodology for the inclusion of climate change in the Solvency II natural catastrophe standard formula
- Aviva announced its plan to become a Net Zero carbon emissions company by 2040s
- ABI comments on publication of Statutory Instruments to amend Civil Procedure Rules and introduce Whiplash Tariffs
- COVID-19 and sustainability will be key insurance themes in 2021, says GlobalData
- Whitespace joins forces with Verisk’s Sequel to accelerate digital transformation of the global specialty market expired
- Juniper Research suggests value of premiums generated by InsurTech platforms will exceed $556bn in 2025, from $250bn in 2020 expired
- Core Specialty partners with Duck Creek Technologies for increased speed to market and operational efficiency expired
- EIS partners with esure Group to expedite its digital transformation expired
- Sapiens CEO reports on financials expired
- SiriusPoint launches with over $3bn in capital expired
13th January 2021
CII Society of Claims Professionals prepares for New Normal
Trend
The Society of Claims Professionals (SoCP) has revealed plans for how it will assist members both individually and collectively get used to the new normal of working in 2021.
January marks two year since the launch of the Society of Claims Professionals, a dedicated professional body created by the Chartered Insurance Institute for individuals who work in claims.
Jeremy Trott, non-executive director of the Society of Claims Professionals, said the professional body recognises that firstly claims professionals need to ensure they keep up to date with all of the technical aspects of coverage and how what we have on cover might actually play out from a claims perspective.
He said: “Let’s be honest– utside of a few industry experts, there were few that truly understood business interruption cover and all that it entailed; and this is only from one very specific perspective–pandemics.
“We now need to review what other key aspects of cover we need to consider going forward, and work with underwriters and other areas of the business to drive forward both policy and technical developments across our businesses, with simplicity and transparency at their core, for both customers and employees.”
Secondly, Trott said claims professionals need to consider more leadership and behavioural support, as the various restrictions and working from home on a more permanent basis have changed the way the sector operates.
He said “We’ve gone from everyone in an office to everyone from home and will probably morph into a hybrid of the two during the coming years, with a variety of different models being set up. How do we ensure that we are thinking about all of the regulatory, welfare, customer, technological, training and induction concerns moving forward, and provide support to our membership?”
Thirdly, Trott said the society will assist members think about the changing skillset that this new normal will require by producing good practice guidance and by providing a forum for the advancement of new ideas, career development and professional qualifications.
He pointed to the way COVID-19 accelerated technological development but noted other aspects–including data, AI and customer expectations–all need to be considered when pulling together a programme of support for claims professionals moving forward.
Trott concluded “Whatever we need to do should come from clear and simply explained policies that we deliver on in the key moment of truth of making a claim. Small steps towards building back this trust, with some strong messaging about how many claims we do pay out on, will slowly and surely rebuild trust.”
CII Trends(320 articles)
Regulatory/Government/Trade Assocs(8080 articles)