Feature
Are businesses prepared for a claims surge event? By Jon Winsbury and Craig Furness, Gallagher Bassett
T
he topic of climate change is rapidly rising in prominence on the global public agenda And, as the world experiences endless parades of catastrophes and significant events on top of the pandemic, claims surge events have become increasingly frequent. We’ve seen a variety of insurable events, from catastrophes, weather events, travel interruptions, volcanic eruptions, fuel contamination events, recessions, and even the collapse of major insurers. Disasters are going to happen, and now more than ever people are finding themselves in the path of nature’s wrath – and it’s up to the insurance industry to be ready. Having the right people with the right training ready is critical for protecting your business and your customers – as is approaching
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every surge event with a growth mindset.
ahead of, the next high-pressure surge event.
A current example of ‘being ready’ is EQC’s recently announced partnership with insurers that will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future.
Preparation - know your team
Under the new partnership, from the second quarter of 2021 anyone with home insurance whose home or land is damaged in a natural disaster will only need to lodge one claim through their private insurer. Preparation before the event is paramount and businesses can manage this risk by partnering with specialists. Gallagher Bassett calls on insurers to get ready for increased claims capacity and has outlined a roadmap for staying above water in, and
• Team hours and flexibility - Are you appropriately resourced for a surge? Do those surge teams have the right training and the right level of empathy to support your customers – and your business? • Talk to your customers - In the Covid climate, people are tuning out, so you’ll need to work a little harder for customers to hear your warnings about emergency preparedness. But pre-event communications are critical, and never a waste of time. Always take the opportunity when talking to your customers to check-in – is their level and type of coverage appropriate? It’s not always about selling your latest package, but about listening to ensure their
