Analysis

Is the industry’s handling of claims inflation damaging its reputation?

By 2025-07-29T07:00:00

claims inflation

‘If the industry does not adapt, we risk widening the gap between pricing assumptions and actual claims costs, which can erode trust with policyholders and limit commercial growth,’ says head of carrier and market relationships

There has never been a simple answer to the many factors that drive claims inflation, which range from geopolitical tensions and supply shortages to inaccurate reserving.

This year, while speaking at the Managing General Agents’ Association’s (MGAA) annual conference on 3 July 2025, Peter Graham, non-executive chairman at Markerstudy, said that the insurance industry is “missing a trick” when it comes to thinking about claims inflation because “the game has changed”.

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