Claims inflation weighing heavy on the shoulders of insurers

With insurers already facing a gruelling voyage of changing regulations and shifting contemporary consumer expectations, the last thing they need is raising costs. Labour, materials, compliance, digital demand, fraud and regulatory pressures are just some of the ways in which claims costs are rising. Insurers are well into rough seas.

With no safety of a port in sight, it will be the companies committed to adapting and disrupting themselves who will not just stay afloat, but thrive.

This short article briefly highlights how insurers can leverage digital technology to tackle claims inflation.