Broker's own index shows high performance of insurers' claims service
Aon has given the thumbs up to Airmic's move to make an insurer 'willingness to pay' index one of the association's new priorities.
Martin Thomas, executive director at Aon, said: "Through Aon's own 'willingness to pay' index we have been measuring insurer and reinsurer claims performance for over 12 months.
"Aon's model assesses each insurer and reinsurer's claims philosophy, operational excellence and claims delivery.
"An overriding benefit of the index has been using the data to work closely, when requested, with insurers and reinsurers to enhance their claims service for our clients.
"Our data shows that the London insurance and reinsurance markets are performing well with 83% achieving a benchmark service standard or above. Some 17% of insurers and reinsurers' claims service is below the benchmark average, which we view as an opportunity for service improvement."