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Rising stars in claims investigate the impact of emerging technology

Publication date:

22 June 2022

Last updated:

22 June 2022

Author(s):

Chartered Insurance Institute

The Chartered Insurance Institute (CII) New Generation Claims group have published research investigating how technology and innovation is changing the claims environment and the professional skillsets required of professionals.

It is evident that technology is already changing the claims environment rapidly. The 445 claims professionals surveyed believed that the automation of small claims is a very likely outcome, which may have an impact on customer satisfaction scores, whereas complex claims handling is expected to still require some element of human input.

The insight concluded that 2020 not only saw a rapid increase in hybrid working but also a change in perception and willingness to engage with technology, and the insurance sector will need to make important changes to enable the future workforce to thrive going forward.

Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, said: “Consumer expectations have been set and moulded by online retailers who use technology to give a fast, efficient and streamlined service with real-time data. The impact of Covid-19 and consequential lockdowns has accelerated change in the working landscape, encouraging prompt cultural shifts.

“Insurance is a sector which often relies heavily on legacy systems, and this can constrain our sense of what it possible when it comes to technological development. We must learn  lessons from the pandemic and innovate in order to meet the public’s needs.

“This report from the CII’s New Generation Group shows the value of engaging with fresh entrants to the profession and encouraging them to challenge our claims processes, if we are to remain a modern, relevant and able to meet the diverse needs of the public.”

As claims roles vary according to sector, department and experience level,  an important element of consideration of this research was the extent to which technology will influence these roles.

The full report can be found here:-

https://www.socp.org.uk/media/10128197/new-gen-socp-future-skillset-of-claims-professionals-research-report.pdf

This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.