Tony Rai, Head of London Market Claims has welcomed the news that Hiscox has for the first time been ranked top in the Gracechurch London Claims Report for overall service quality.
"We are really pleased that our claims service is hitting the right note with our brokers," Rai tells Hiscox Global Insight. “Honouring the promise to pay our customers and striving to exceed their service expectations are at the heart of everything that Hiscox does. Insurance is a people business and we should never forget that. It is what has driven us over the past five years as we worked hard to improve our claims service."
The Gracechurch report is the leading independent study on the claims reputation and performance of insurers operating in the London Market. It is based on the views of 275 specialist London Market claims brokers, and Hiscox rated especially well for its responsiveness, speed of service and excellent management of third party advisers. In 2014, Hiscox was ranked in second place.
“Congratulations to Hiscox. This achievement is the direct result of genuine service quality commitment, great teamwork and strong leadership,” says Ben Bolton, Managing Director of Gracechurch. “Hiscox has set the pace and this will no doubt up the ante on service delivery, which can only be positive for businesses looking to buy insurance in London.”
The level of claims service being offered across the London Market is much higher than it was ten years ago when Gracechurch issued its first claims report, says Bolton. “Now, there is a real competitive pressure, for both brokers and underwriters, to offer a better claim service in order to retain business. There’s also a growing expectation too from regulators that insurers will deal with claims quickly and fairly.”
Hiscox is looking to consolidate its position at the top, says Rai. “We are not complacent, and we will continue to work hard to build on this success and earn the continuing support of our brokers.”
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