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Munich Re Addresses Projected Dearth of Claims Adjusters

August 27, 2008

Princeton, N.J. — "The loss of experienced adjusters due to retirements and the difficulty in attracting and retaining new claims talent continues to be one of our industry's greatest challenges," said John Rodgers, chief claims officer and SVP of MRAm, at a Munich Reinsurance America-hosted two-day seminar last week. "We wanted to help meet this challenge by offering a very practical, hands-on program about fundamental processes in claims management," he said, addressing the event, which focused on a projected critical shortage of experienced claims adjusters.

The program was presented by Munich Reinsurance America's Claim Division, in conjunction with the law firm of Coughlin Duffy LLP and the University of Wisconsin - Madison School of Business. A total of 60 claims adjusters, representing 22 MRAm client companies, attended the 2008 Casualty Claims Seminar at the University of Wisconsin's Madison Campus on August 20 through 22.

"The claims function has evolved in such a fundamental way that it now requires not only more sophisticated technical expertise, but the ability to coordinate diverse and complex information systems," Rogers said. "The industry now widely recognizes that management of claims is essential to an insurance company's success and its image in the minds of the public. Without effective claims skills and processes, loss costs climb and customer renewal retention falls."

The main objective of the seminar, which targeted casualty claims adjusters with three to five years experience, was to help increase the general level of expertise and skill among primary carrier claims departments, thereby improving primary insurer loss experience.

Source: Business Wire

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