The need for speed
Industry research highlights the fact that the motor insurance market is becoming tougher. With cost inflation and policy deflation, as well as meeting the demands of regulatory bodies, the insurance industry is having to reassess how it can get back on track. Paul Tucker explains
Of the many business pressures faced by motor insurers, the need for speed in claims handling has now become the most pressing. Insurers need to reduce the huge costs involved in managing claims so they can continue to offer value to consumers, yet still bridge the income gap between administrating claims and income generated from premiums.
Industry research highlights the fact that the motor insurance market is becoming tougher. Datamonitor says that inflation in motor claims means that the
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