Zurich Head On The Need To Look At Claims As Cost Pressure Rises

Claims transformation is being pushed to the top of insurers’ agendas thanks to a changing marketplace, heightened customer expectations, and pressure to reduce costs, says Zurich’s head of claims strategy. Those three factors are driving a need for insurers to overhaul the way they approach claims, Alessandro Paoli said at the Uniglobal annual claims management conference in Hungary. The market itself is “totally changing,” according to Paoli, who said that there has been an overall reduction in the frequency of claims, but an increase in severity. The pressure of profitability is also squeezing insurers.