Canadian Underwriter

Insurers better at underwriting and claims than policy administration, Willis finds

October 31, 2007   by Canadian Underwriter

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Insurers performed best in underwriting and claims, while the poorest performance was in the area of policy administration, according to a Willis Group Holdings Limited survey.
The survey of more than 2,700 Willis employees also found that specialist carriers are perceived as offering a superior level of all-around service to Willis and its clients, as opposed to carriers with more general product lines.
The survey also presents evidence that North American Willis employees have more favourable views of their markets than do non-North American Willis employees of their global markets.
The finding that insurers performed the poorest in policy administration came as a surprise, particularly in the United Kingdom, because this category is subject to intense regulatory interest, a Willis release says.
Willis will now share the results of the survey with insurers in an effort to help raise industry standards and service levels.
In early 2008, the benchmarking data will be shared with clients to aid in their market selection. For too long now, clients have been basing their insurance decisions on price and prejudice: Whos going to give me the best deal and who do I like doing business with? Joe Plumeri, chairman and CEO of Willis Holdings Limited, said in a statement.

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