Gallagher Bassett has published the findings of its annual survey, targeting the primary challenges and opportunities that lie ahead for Australian insurers in 2024.
Titled “The Carrier Perspective: 2024 Claims Insights,” this comprehensive report distils insights from more than 150 industry responses, focusing on strategic priorities such as staff retention, addressing complex supply chain issues, and ensuring compliance within an ever-changing regulatory framework.
Highlights from the survey reveal:
John White, head of sales and client services for general insurance at Gallagher Bassett Australia, highlighted the critical need for insurers to stay agile and adaptive in the face of technological advancements, regulatory shifts, social inflation, and changing climate conditions.
“The year ahead holds huge potential for insurers as they navigate through technology advancements, the evolving regulatory landscape, social inflation, and climate patterns. To maximise this potential, insurers must be prepared and ready to be agile and adaptive,” he said. “This year is already shaping up to be another fast-paced year for the insurance sector. It is going to be exciting to see how insurers proactively embrace external expertise, data-driven insights, and other key tools to drive improved customer experiences and maintain competitiveness.”
Last month, Gallagher Bassett outlined 10 conditions signalling increased political risks for businesses.
