Industry heavyweights back investment in claims talent after IACP-Gracechurch report

Beazley CEO, Adrian Cox; Convex CEO, Paul Brand and Liberty International Insurance President Philip Hobbs are amongst the (re)insurance leadership to lend their support to improving claims talent following the publication of new research from the International Association of Claim Professionals (IACP) and independent insurance research firm Gracechurch.

The inaugural report from IACP and Gracechurch highlights that despite the growing recognition of claims as a critical part of the customer experience, investment in claims talent isn’t high up the boardroom agenda at many (re)insurers.

Senior figures from the (re)insurance industry have voiced strong support for improving claims talent and addressing skill gaps following the release of the report last week.

Adrian Cox, CEO of Beazley, emphasised the critical role of claims in differentiating market leaders.

“The IACP and Gracechurch research demonstrates that the global claims community recognizes the need to reskill and invest in claims. Beazley believes that claims is a true differentiator and demonstrates the power of our expertise, even more so in Beazley’s specialty arena,” said Cox.

He added that Beazley is committed to ensuring its claims teams have the necessary skills and resources to support growth and meet client needs.

Convex CEO Paul Brand echoed these sentiments, highlighting concerns raised by the report. “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,” Brand said.

He emphasised the importance of future-proofing claims teams to keep pace with rapid changes, stating, “At Convex, we are highly aware that claims is changing very fast, and we need to ensure we have the right skills in place.”

Liberty International Insurance President Philip Hobbs reinforced the need for long-term investment in talent, adding, “We’re investing for the long term to bring talented people through and ensuring they have the right skills and learning opportunities to meet the challenges of today and tomorrow.”

“The new IACP-Gracechurch research should be a wake up call for our industry: claims represents a real opportunity to deliver value when it matters most, and is an area where we need to support the right talent and skills to deliver excellent service,” Hobbs concluded.