The future of claims is about elevating the customer experience, and insurers that aggressively pursue digital enablement today will be primed to excel tomorrow.
Digital technology has become critical to provide core claims services during lockdown. Verisk is at the forefront in this field with a full range of claims solutions.
Despite the challenges of the pandemic, it has also kickstarted operational and societal changes that have showcased that Lloyd's can adapt to a more digital environment.
As the FCA signposting rules encourage insurers to direct potential business elsewhere, insurers may need to re-evaluate their cover.
Crucial questions remain over whether insurers have in-house capacity and expertise to develop fit-for-purpose solutions, or if they should opt for an industry partner.
While the world faces logistical challenges from COVID-19, insurance claims will continue to occur, and weather-related catastrophes will not abate due to the disease.