Blog: How automating arbitration can reduce insurance claims costs and complexity
Recent research from the Association of British Insurers found compensators pay out millions every day on repairs and bodily injury claims in the UK but, according to Olly Savage, business development director at Verisk, Minsitry of Justice data reveals it is seeing high volumes of injury claims being escalated to the courts – and 91% of all unspecified money claims being disputed result from personal injury cases.
Government legislation and process improvements have helped control claim costs to a certain extent, but there’s more to be done. The industry must remain agile and responsive as claimant behaviour
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