- Briggs steps down at Aviva-other senior management changes
- Fitch says US property/casualty(P/C) industry returned to a modest statutory underwriting profit in 2018
- Willis Reinsurance Index down 10% to $335.7bn at 2018 year-end
- Hiscox Cyber Readiness Report 2019 indicates sharp increase in the number and cost of cyber attacks is the key finding in a study of more than 5,400 organisations across seven countries
- Consumer Intelligence survey highlights UK customers overwhelmed by insurance information
- FCA publishes Feedback Statement summarising the responses received to its Discussion Paper - ‘A duty of care and potential alternative approaches’
- Majesco reports its annual customer conference crushed attendance records-announces partnership with DataRobot expired
- Majesco announces wide range of ready-to-use partner apps available in the Majesco Digital1st EcoExchange marketplace expired
- S&P Global Ratings and Guidewire Software announce increased collaboration to inform cyber security factors expired
- AmeriTrust chooses Xponent Underwriting Workstation from Intellect SEEC for underwriting transformation expired
- Travelers reports strong first quarter expired
- Trust Re holds AGM and welcomes new ceo expired
14th April 2019
LMA and PwC release report "Claims Workforce of the Future-London Market"-new supplementary skills and processes required
The Lloyd’s Market Association(LMA) and PwC have published a report, following engagement with London Market carriers, on the transformation of their claims departments.
The report, entitled "Claims Workforce of the Future-London Market", found that while high-calibre technical claims handling skills are prevalent, a better balance is needed between those and various supplementary skills such as data analytics and customer experience management.
Other key findings include:
-new skills and processes are required to successfully transform the London Market
-a shift in emphasis is needed by insurers to be much more customer-centric
-technology is not a panacea: culture, processes and approach need to change
-better support is required for claims staff to adapt to the ‘new world’.
Lee Elliston, Claims director, LMA comments “Technology is bringing sweeping changes, challenges and opportunities. It is enabling process changes, as part of the market’s transformational efforts, to keep pace with ever-increasing customer expectations. However, the analysis and insights within this report clearly highlight that better supporting people to adapt, develop and lead in modern claims environments is crucial. This will help further the transformation of claims in the Lloyd’s and London Market, to deliver a modern, world-class claims service to our customers”.
Download the report at: http://www.lmalloyds.com/LMA/Claims/Claims_Workforce_of_the_Future.aspx
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