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Convex’s Brand: IACP-Gracechurch highlights “concerning” tech and skills gap in claims

October 17, 2024
By Insurindex Editor

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Convex CEO Paul Brand has voiced concerns over the tech and skills gaps identified in the latest research from the International Association of Claim Professionals (IACP) and Gracechurch.

The report reveals shortcomings within the global claims function, which could undermine the industry’s ability to meet rising client expectations.

“I welcome this research paper from IACP and Gracechurch. The identified gaps in tech and soft skills in claims globally are concerning and should be a trigger for a debate on wider industry action,” said Brand.

His comments underscore the pressing need for insurers to reassess their claims operations and ensure they are equipped to handle increasingly complex and fast-evolving claims processes.

Brand emphasised the pace at which the claims landscape is changing, driven by technological advancements and shifting client demands.

“At Convex, we are highly aware that claims is changing very fast, and that we need to ensure we have the right skills in place to future-proof the business,” he added.

With claims professionals now expected to manage a combination of technical expertise and soft skills, insurers must invest in talent and technology to remain competitive.

“Our commitment to stand-out claims service (as proven in the Gracechurch research) also means that we are unequivocally committed to continuing investment, ensuring we meet and exceed our brokers’ and clients’ needs,” Brand said.

This commitment to ongoing investment and innovation in claims is essential for staying ahead of the curve in a rapidly evolving market.

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