Moving to pole Position: The future of claims (Pulse survey report)

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Airmic regularly conducts a series of pulse surveys among its members, to gauge insurance market conditions. Results from the latest survey conducted in May 2024, focused on claims, the results demonstrated how important claims service level are for Airmic members in choosing their insurer, and that they want the claims team of their insurers to be involved in the tender, quotation and renewal process.

The headline findings:

1. Claims service level scores are important for more than half of our respondents – insurers need to present and communicate them more clearly to buyers.
2. Third party administrators (TPAs) are valued for their specialist knowledge that could result in the best outcomes for claimants and their organisations.
3. Cutting edge technology can further automate the traditionally time-consuming claims process for all parties – but nearly three quarters of respondents are not prepared to challenge claims decisions made by artificial intelligence (AI).
4. The end of the current hard market cycle is in sight – but some lines of insurance such as property, casualty and motor are still seeing premium increases.