The Developing Role of the Loss Adjuster

14th September 2010

George Moss

Some things have changed, others have not

• Royal• Sun Alliance

• Pearl• Phoenix• Guardian

• Royal Exchange• General Accident

• Commercial Union• London & Edinburgh

• Norwich Union

Client base - 1980s

Client base - 2010

• The rise of the procurement function

• Panel arrangements

• Centralised claims handling by insurers

• Diminished requirement for local relationships

• Changes in ownership and branding of loss adjusters

Developments

• Claims preparation work

• Outward portability

• Regulation

• Treating Customers Fairly (TCF)

Developments

• Is the title ‘loss adjuster’ still representative of the role we play today?

• Increased segmentation of the role

• Career progression

• Technology

• Management Information

Loss adjuster?

• Household – FNOL/Validation/Fulfilment/MI• Commercial• BI & accountancy-related services• Agri• Marine & Transportation• Liability and litigation support• Construction & Engineering• Fraud• TPA• Subsidence• Claims preparation• Consultancy

Product lines

• Trust

• Integrity

What hasn’t changed?

• Legal Services Act 2007

• Technology

• Opportunities to use skills in other areas

The future

• To have a value proposition for the disparate constituent groups within its membership

• To offer value for money

• To be relevant

The challenge for CILA

Yes, provided we continue to adapt to a rapidly changing financial services industry and…

• Provided we innovate

• Provided we can evidence the value we bring in the resolution of mainly claims matters

Will adjusting survive?

Introduction

• Where we’ve come from and where we are going

• Complex commercial claims ie. high value but low volume