How tech can mitigate London’s claims recruitment challenge

One of the key challenges facing claims teams within the London (re)insurance market is attracting and retaining skilled claims professionals. Fierce competition for a limited pool of experienced claims people increases the pressure on claims teams to streamline processes and improve efficiency. As does an increasing focus on performance metrics – like time to first payment, time to first reserve and time to close – whether from market bodies like Lloyd’s, from brokers, or from carriers themselves.

Attracting top talent isn’t cheap. But holding on to it takes more than a competitive salary. Job satisfaction matters. Claims handlers frustrated at how much time they spend on repetitive manual tasks may look elsewhere. Technology can strip out tedious tasks that add little value, freeing claims handlers to focus on more stimulating and satisfying activities. This can boost efficiency and help carriers outperform competitors without increasing headcount.

Straight-through processing

Straight-through processing (STP) has a role to play. Many London Market claims are too complex for full automation, but aspects of even the most complex can still be processed using STP. Following expert human oversight, more routine claims that meet predefined parameters can progress through STP to payment, provided they stay within those parameters. This reduces touchpoints and frees adjusters for higher-level tasks.

Building trust in AI

Selective application of AI allows carriers to streamline their operations without the need for additional hires, concentrating expert human input where it’s needed most. AI can also help carriers respond to pressure from boards and shareholders to innovate with AI, without overextending their resources. Starting small, by automating specific, manageable processes, helps build trust in the technology while delivering incremental but meaningful improvements.

AI claims screening

At DOCOsoft, we’re helping clients apply AI-powered screening to incoming claims. This identifies red flags, like vulnerable customers or potential litigation, ensuring these cases receive expert personal attention. Suspicious claims indicating fraud or bad faith can also be flagged for deeper review. This approach identifies claims requiring immediate attention and ensures the right resources are deployed at the right time.

Applying AI to process optimisation

DOCOsoft’s DOCOflow module uses advanced analytics to pinpoint inefficiencies in the claims process. It highlights bottlenecks like delays caused by junior claims handlers waiting too long for approvals or by unresponsive brokers, and concentrations of individual claims stuck in a succession of diary tasks and failing to move forward. By providing actionable insights, DOCOflow enables carriers to optimise claim allocation, improve performance metrics, and streamline processes — all critically important in today’s competitive market.

Getting results with DOCOsoft solutions

DOCOsoft products, like DOCOflow, STP and AI-driven claims screening, empower London Market carriers to improve efficiency, mitigate talent challenges, and enhance performance metrics. By addressing inefficiencies, carriers can match and exceed the performance of their peers, ensuring claims are resolved faster and customers remain satisfied. And, if talented staff remain hard to find, you can at least make sure the team you have performs at maximum efficiency and effectiveness, hitting those increasingly important metrics, getting claims paid faster, and making your customers happy. If you’d be interested in an informal chat to find out more, please don’t hesitate to get in touch.