Kathmandu. As natural disasters rise and large and complex damages become more common, insurance customers across Asia are pressuring insurance companies to speed up and simplify the claims process.
As per AON’s Q3 Claims Outlook report in Asia, customers now expect actionable pre-loss information and a quick and clear claim payment process. Insurance companies are now using more technology to make low-loss and non-complex claims faster by providing pre-loss engagement and loss scenario practices.
When choosing coverage, Aon states that customers are increasingly focused on the insurance company’s claim performance. “However, insurance companies in the sector continue to face pressure,” the report said. An increasing number of large and complex claims are straining the available resources. ’
Aon has also highlighted a lack of experienced claims professionals. “This is contributing to coverage and volume issues and slowing claims resolution,” the report said.
The increase in complex claims requires clear communication between customers, intermediaries and insurance companies, AON said. “This includes prompt reporting of losses, agreed responsibilities and realistic timelines for resolution,” Aeon said.
