With the increasing pace of change, claims adjusters now find themselves polarized with both extreme challenges as well as tremendous opportunities. Credit: Mego-Studio/Adobe Stock
It's the early 2000s, if you were working in EC3 you might remember the sight of claims brokers queueing, with vast claims folders under their arms, patiently waiting to see the Lloyd's syndicate or insurance company claims adjuster, to discuss the finer details of their clients' claim. Each step of the claims process was discussed and recorded in those cumbersome files, from first notification of loss to final settlement. If the file was lost or damaged there was a major problem. The broker was beholden to the timetable of the claims adjuster – if the adjuster had an early finish the broker would simply have to return the following day and start the process again. Even though we were in a new century little had changed since the beginnings of specialty insurance in a London coffee house in 1688, when everything was done on paper and within a 9 a.m. to 5 p.m. window.
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