Millions of insurance documents could be wrong
The annual survey of the The Insurance Manager into insurance industry service standards has revealed that millions of insurance documents may be wrong.
Kate Underdown, director, has explained that the survey, now in its third year, was originally created to help identify specific problems with brokers or insurers but gradually grew as interest increased.
Now The Insurance Manager publishes the results and sends them along to the Federation of Independent Insurance & Risk Managers (FIIRM) for greater analytical evaluation.
The research focuses on two areas: the number of documents in need of correction and how many times missed calls/deadlines need to be chased up.
Underdown is firmly of the opinion that accuracy is considered second fiddle to meeting deadlines.
Although correction rates have fallen from a colossal 67%, they still stand at a worrying 37% and the survey shows that the insurance industry remains generally inefficient.
Category: Insurance News
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