Gracechurch’s Weekly People: The stars of claims

Yesterday marked the release of our 2024 London and UK Claims Monitors. As always, change is a constant in the London and UK insurance markets, and the end of year results were no exception.

Looking back on 2024, the leading carriers have excelled at the “brilliant basics” of claims service, delivering fast, efficient service, and communicating well with brokers. But as these practices become more widespread (though not universal), particularly in the London Market, brokers expectations are rising, and the challenge we’ve presented to the teams we work with is how to meet them.

The Reports go into more detail about the specific behaviours brokers look for, but with claims much more of a factor at the point of sale, and service increasingly important across not only claims, but now also, underwriting, carriers who fail to deliver quality claims service risk losing broker and underwriter confidence, reputation, and ultimately business.

There is so much interesting detail in the data and not enough space to cover it all here, so for now, I’d like to focus on some of the leading teams and their people. We ask brokers to recognise individuals from the claims teams they work with who deliver high-quality claims service.?Five teams in the London Market receive more citations than any other team: Tokio Marine Kiln, Allianz Commercial, Chubb, Convex, and AXA XL, including the following stand out individuals:

Next week will be our final newsletter of 2024 before Gracechurch breaks for the holidays, but there are still plenty of exciting things ahead. Next Thursday we release our 2024 London Insurers Monitor, and we’ll be announcing the winners of the 2025 Claims and Underwriting Service Quality Marques in January, so keep an eye out for more!

Have a great weekend,

Rebecca Yuska

Research?Director

E: [email protected]