An unusually large amount of natural disasters last year kept the insurance and reinsurance industries on their toes last year.
Frequent events resulted in more frequent claims, and the large size of the events (Japan quake, NZ quake, Thailand floods etc.) meant the volume of claims was significantly higher than normal.
News Insurances got in touch with Russel Crewe of Merlin Claims to discuss how companies handle these surges in claims.
Russel told us about the importance in dealing with claims as quickly and efficiently as possible, and that hiring extra claims handling staff isn’t always the best option to tackle the problem.
He also stressed the importance of a good relationship between insurance companies and their clients, with communication playing a key role in this.
