The Covid-19 pandemic presented major logistical challenges to the insurance industry, with many organisations scrambling to activate business continuity plans.
The use of external data can help insurers identify potential fraud, but also shorten the customer journey by validating information more efficiently.
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.
The impact of the UK personal injury reforms, now set to take effect in August, is uncertain. The small claims track limit is expected to increase from £1,000 to £5,000.
Insurers in Ireland need to look at how they can use data from a wide variety of sources to significantly reduce the risk of fraud at the application and claims stage.