Beazley’s Cox: IACP-Gracechurch report underscores value of partnership between claims and underwriting

The newly published IACP and Gracechurch report underscores the message that investing in claims is “paramount”, Beazley CEO Adrian Cox has said.

Cox said the joint research highlights the need for insurers to reskill and invest in claims to meet the evolving demands of clients and the fast-changing risk environment.

Responding to the findings, Cox said that the claims function is not just a back-office operation but a key differentiator for insurers, particularly in complex specialty markets.

“Beazley believes that claims is a true differentiator and demonstrates the power of our expertise, even more so in Beazley’s Specialty arena,” Cox said.

The report makes it clear that claims handling requires a significant shift in both talent and technology.

For Beazley, Cox said claims remain central to client relationships, with the London (re)insurer committed to ensuring its teams are equipped with the necessary skills to help clients navigate a more complex and challenging claims environment.

“Investing in claims is paramount, and we need to ensure that team members have the right skills and resources to support growth and assist our clients in navigating the claims environment,” added Cox.

Cox also highlighted the critical link between claims and underwriting, noting that a strong partnership between the two functions is key to delivering superior expertise and service.

The insights from the IACP-Gracechurch research, Cox said, will guide Beazley’s continued efforts to support its claims team, led by Beth Diamond, to ensure the right skills and resources are in place to exceed client expectations.

Beazley’s success, Cox concluded, is built on “finding innovative solutions, investing in our people, and focusing on the needs of our customers”.