Claims statistics: A reminder that the protection industry is not the sole preserve of insurers

clock
Claims statistics: A reminder that the protection industry is not the sole preserve of insurers

Alan Lakey defends the publication of claims statistics and argues that insurers should go much further.

There has been much recent talk concerning the release of claims statistics. The word is that some insurers and reinsurers are looking to end the practice as they believe it causes more harm than good. Such a viewpoint raises numerous questions that touch on transparency, reasonableness and, not least, ethicality. Some years back I heard an ABI spokesman arguing that critical illness claims stats were being used to denigrate the industry and the product. His logic was that rather than...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Exclusive access to our fortnightly Protection insight mini-podcast.
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection