Zurich UK chief claims officer David Nichols hopes claims data will help ‘dispel the myth’ that insurance claims don’t get paid
Zurich paid out £1.7bn for UK claims in 2017. This was 99% of all claims and 99% of all general insurance claims.
The insurer revealed that it paid 120 claims of more than £1m over 2017.
While 99% of motor claims were paid out, the percentage of home claims paid was 95%.
The main reason for this, according to Zurich, is that customers have claimed for wear and tear, or do not have the appropriate cover in place, such as for accidental damage.
In addition, Zurich paid out for 99% of all commercial general insurance claims.
Commenting on these figures, Zurich’s UK chief claims officer, David Nichols, said: “While the numbers of claims and amounts paid to our customers fluctuate year on year, we’re proud to report again that we’ve paid out over 99% of claims across all product areas. We hope this helps to dispel the myth that insurance claims don’t get paid.
“We’re fully committed to sharing this information with our customers and to delivering on our promise to them. This includes making sure that applying for cover is simple and straightforward and making sure that we’re on hand immediately with full support when they need to claim.
“We’re here to support customers throughout the life of their policies with features like Zurich’s support service where customers can access professional counselling, career coaching and advice on everything from sourcing care for elders’ right through to money management.”