Plea for template for uniformity in insurer claims figures
Tue, 14 Apr 2009
The Health Claims Forum is appealing for uniformity in life insurer claim statistics.

The organisation says it is working on guidelines so that advisers and consumers will be able to compare insurers on a "like for like" basis. At present, life offices can choose how they present their claims figures and this usually includes number of claims and reasons for claiming. However, where one insurer might focus on a drop in claims declined, another may lead with the total amount paid out.

Last week, Aegon Scottish Equitable published its critical illness (CI) claims statistics for 2008 and included the amount paid out in proportionate payments, under the Association of British Insurers (ABI's) new 'negligent' banner. Even though CI figures released by Skandia recently did not include proportionate payments. The insurer says it does not collate those numbers.

Pete Barrett, claims director at Reinsurance Group of America (RGA) and a member of the Health Claims Forum, said: "There needs to be some way of comparing like for like."
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