Again, insurance thought leaders examine issues in claims management

Business A.M

The Nigerian  insurance industry has witnessed a significant growth in recent years. However, claims management, which is considered the heartbeat of any insurance company, is fraught with challenges that has contributed to poor image of the industry and low penetration of the insurance services.

Modern insurance infrastructure developer,AgentSync defines insurance claims management as the process an insurance carrier takes to ensure they pay claims in accordance with regulations, from swift payment of “clean claims” to quick resolution on disputed claims that may require more hands-on attention from adjusters.

To help stakeholders understand what the issues are and ways to navigate them, Carefirst Consult, a foremost claims management company concentrating on insurance claims denials, accessories, and subrogation right recovery, is set to organise an Insurance Claims advocacy conference

Themed “Taking Insurance Experiences Beyond Claims Payments”, the conference is billed for October 5 2023 at the Nigerian Insurers Association (NIA) banquet hall, Victoria Island, Lagos.

The conference is expected to attract insurers, reinsurers, insurance brokers and agents, loss adjusters, claims arbitrators, regulators and insurance managers in telecom, aviation, construction, banking, manufacturing, and pharmaceuticals.

It will seek to discuss the relevance of claim payments  as an essential part of the insurance value proposition,minimise the mistrust of insurance consumers regarding claims, increase opportunities for consumers to share their frustrations with claims handling with insurance operators, create opportunities for insurance companies to share the complexities of claims settlement with customers, and discuss ways of improving the claims experience for the bottom-line instead of allowing a dissatisfied customer to switch after a bad claims experience.

The event will feature a lineup of notable speakers in the insurance industry and beyond, including Prisca Gbemisola Soares,former secretary general,African Insurance Organisation (AIO); Reginald Egbuniwe,managing director,Metropolitan Loss Adjusters; Rashidat Adebisi, chief client officer,AXA Mansard and Richard Ogunmodede, financial,fintech expert and insurance consumer.

Speaking ahead of the conference, Gus Wiggle, founder, Carefirst Consult, said this year’s theme is at the forefront of the industry discussion, stressing that the conference provides valuable insights, practical takeaways and networking opportunities for attendees.

“I am excited to convene this conversation among our esteemed panelists who are experts in their respective fields. I hope at the end of this conference, a forward-thinking approach to satisfying customers of insurance during and after claims settlement will be different,” he said.