Blog: Homing in on high-net-worth claims

Quality service, especially for claims, should not be lost in any efficiency drive when it comes to expansion in the high-net-worth space, warns Simon Loerns, director of specialist services at Woodgate & Clark loss adjusters.

The provision of high-net-worth insurance presents both challenges and opportunities for the sector, as explored in Martin Friel’s recent article for Insurance Age, looking at MGA activity in this space.

Clearly, any planned expansion into HNW cannot come at the cost of knowing the customer, regularly assessing their needs to help avoid underinsurance risk at the annual renewal. But knowledge of the customer’s needs and expectations is equally, if not more, important at claim.

The loss