Search
 

Claims Service Will Be Tested By New Risks

A greater focus on service has led to overall improvement in claims performance, but emerging risks will challenge the insurance industry over the next decade.

By Mark E. Ruquet | Updated on June 26, 2012
The greater focus on service in recent years has led to overall improvement in claims performance, which comes just in time to address new and emerging risks that will undoubtedly challenge the insurance industry over the next decade, according to the chief executive of Willis Group Holdings.

Speaking at the recent Swiss Re Americas Claims Conference held annually in Chicago, Ill., Joe Plumeri, chairman and chief executive officer of Willis, applauded the audience of senior claims professionals in attendance on a steady improvement in performance as measured by Willis’ own carrier-rating system: the Willis Quality Index.

The company initiated the index in 2007 to give insurance carriers direct feedback on a range of their services. The average score for claims performance across areas such as attitude, technical support, and timely approval and payment, has increased steadily over the last three years, Plumeri noted.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.