The upcoming Insurance Business Awards 2025 is an opportunity to celebrate the industry’s high achievers and have some fun. Nominations close in just two days, on November 22. Act fast if you plan to nominate a trail blazing colleague, a firm or even yourself!
Claims teams, sometimes referred to as the engine room of the insurance industry, are a focus of the awards night. CHU Underwriting Agencies and Emergence Insurance were joint winners of the 2024 Claims Team of the Year award.
David Gow, CHU’s head of claims (main picture, left side, after accepting the 2024 Claims Award) reflected on 2024’s claims challenges for Insurance Business.
He said, so far, major weather events haven’t featured like they did in previous years. However, the claims area still saw challenges, including big ones connected to the strata industry.
Gow said the industry is also seeing heightened regulatory scrutiny on claims handling generally.
“The current guidelines require increased accountability and transparency,” he said. “We've committed to enhancing every part of the claims process to ensure clients feel informed and supported.”
He said this goes beyond just being compliant and was partly a response to recent Insurance Council of Australia (ICA) and government inquiries.
Gow referred to the government’s report into insurers’ response to the 2022 floods. The report contains 86 recommendations aimed at improving the industry's disaster response and consumer protections.
“Key suggestions include removing state insurance taxes, better floodplain planning, and enhancing resilience,” he said. “The industry has already made strides, such as developing and improving the handling of vulnerable customers.”
Another focus of the recommendations is the expert reports insurers often use to reject claims. There are calls for clearer regulatory guidance so claims cannot be denied when no clear link is established between damage and the reported cause.
Gow said his agency, with its dedicated nat cat team, has worked hard “to ensure transparency and responsiveness at every stage.”
He said this is particularly important given the ongoing pressures on consumers from increasing costs of living, including the rising construction costs that are impacting home insurance claims.
There are also more pressures on insurers from their customers.
"Today's customers are more informed than ever about their rights and they also have higher expectations when it comes to service delivery,” said Gow. “We view this as a positive development.”
In response, the claims head said his firm places more emphasis on transparency, empathy and support, “particularly for vulnerable customers."
Brokers play a key role, said Gow, in advocating for clients.
“We've invested in training, technology, and educational resources to keep pace with these [broker] needs,” he said.
AAMC, the motor accident management service provider, is the Event Partner for the 2025 awards. For the fifth year running, AAMC is sponsoring the Claims Team of the Year prize.
“I’ve always felt that working in claims is thankless and tough, especially now, as the bulk of complaints insurance companies receive are primarily about claims execution,” said Daniel Lukich, the firm’s sales and strategic relationship manager.
Lukich said today’s claims issues, including delays, are usually the result of processes that are “bogged down” by regulatory requirements.
“Insurance companies have been slow to adapt their systems and infrastructure to meet today’s demands, placing significant pressure on claims teams and their staff,” he said.
Lukich said it is important to shine a light on their efforts.
Gow said his team appreciates this appreciation.
"For us, this recognition is a reminder of the high standard we set on each and every claim,” he said. "This award was an immense honour for me personally and for the entire team.”
Next year’s event is at the Hilton Hotel in Sydney on May 2. There are 20 awards categories targeting the work of claims teams, brokers, underwriters, insurers, BDMs, authorised representatives (ARs) and insurtechs.
There are also accolades for young achievers, lifetime achievers, women of distinction, top CEOs and for excellence in diversity, equity and inclusion.
The evening involves a black-tie gala dinner, music and entertainment.
