FERMA Guest Invitation 2018 – Belrim (1)The European and international insurance market has been soft for several years and there are few signs of a general market hardening. Most within the commercial and corporate risk and insurance management community believe that this is the ‘new normal’.
But this stubbornly soft market surely presents risk managers with an opportunity to shift the focus firmly onto service and the most important thing of all: Claims.
For insurers and brokers this represents an opportunity too. In such a market the insurers must seek to differentiate themselves in any way other than price, and service is clearly the way ahead.
Those insurers that can build a valid and lasting reputation for the smooth, efficient, painless and rapid payment of valid claims will clearly be the winners.
Patrick Smith, former chairman of UK risk management association Airmic, neatly summed this up during a recent conference on claims in London as he said: “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
This year’s Brussels Risk Frontiers conference, held in partnership with Belrim, the Belgian risk management association and Ferma, the European Federation of Risk Management Associations, will focus on important developments and plans for the European risk management profession and then move on to a detailed discussion about this most important part of the market’s function: the efficient payment of claims.