As the pummelling rain moves north of Sydney, insurers are bracing for tens of thousands of flood-related claims. That’s on top of 225,000 claims from the previous round of east coast flooding in March and April. According to the Insurance Council of Australia (ICA), insurers have only managed to successfully close about 30% of that claims mountain.
Australian insurers have been urged to “prioritise” improving the claims management aspect of their operations, having spent the last few years focused on complying with reforms stemming from the Hayne royal commission.
Xceedance joins the list of 24 winners of the 2022 Insurance Business (IB) 5-Star Technology Awards.