What the cost-of-living crisis means for insurers

In the latest episode of the Insurance Post Podcast, titled What the cost-of-living crisis means for insurers, Claire Lashbrook, director of property claims at Claims Consortium Group, revealed her organisation is seeing interesting changes in consumer behaviour as a result of double digit inflation.More than ever before, she said the speed of settlement is coming out as something that is vitally important to customers making a claim.Karl Parr, claims technical and central services director of Axa, also shared during the podcast the impact the pinch in policyholder’s pockets is having for the insurer and how the provider is making sure people keep cover in place.During the podcast, Lashbrook and Parr also explore the regulator’s requirements for insurers to support policyholders in financial difficulty, whether there will be a shift to basic products for customers feeling the pinch and how to prevent an uptick in cancellation of cover. Hosted on Acast. See acast.com/privacy for more information.