Daily Insurance Industry News
Daily Insurance Industry News
Thursday 15th of November 2018
July 30, 2009

Millions of insurance documents could be wrong

by Richard Kilner

Story link: 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.


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