Adjusting to Covid19 – Loss Adjusting at ASL During and After the Pandemic
As international Loss Adjusters, ASL have always been proud of our hands-on approach to claims and the face-to-face service we offer to clients and their Insureds. In the 12 months prior to the pandemic our team travelled to over 40 countries to adjust claims; we explain how our work has changed now that we are all confined to home.
- Like most of our Insurer clients, and many of their Insureds, our team of adjusters are all working remotely from home; business travel and face-to-face meetings have been replaced by video calls and meetings, virtual coffees and even the odd virtual beer!
- We’re finding that Insurers and their Insureds, who might previously have been resistant to video conferences, are embracing the new way of working and the technology involved and we’re able to continue investigating claims remotely.
- The claims currently keeping us busy include crime and financial institutions notifications – mainly relating to matters discovered pre-pandemic. We’ve also seen an increase in activity in cyber crime and liability claims, business interruption losses and credit claims.
- What does the future hold? We expect the majority of our team will continue to work from home for the time being and virtual meetings will replace international travel for some time to come. We are though hoping that at least some of us can get back to the office soon – particularly London-based staff who look forward to moving in to our new offices on St Mary Axe in the heart of London’s insurance district next month.
- Longer term, we expect that for the complex claims we regularly deal with, often involving fraud and in-depth quantum investigations, face-to-face meetings and international travel will eventually resume.
- As for the types of claims we will be dealing with going forward, as the UK enters recession, we expect an increased incidence of fraud and crime claims as well as credit losses – in our experience these types of claim have followed every economic downturn. We also expect an increase in cyber crime and liability claims as the world moves increasingly online and hackers and cyber criminals look to exploit the new normal.