Releasing claims data not straightforward: Insurers

Naomi Ballantyne

The Insurance Council of New Zealand is believed to be collecting that data for the general insurance sector at present, to show how many claims are accepted compared to those declined.

And in Australia, watchdog ASIC wants individual claims denial rates to be released, to provide more information to consumers.

It recently produced a report on claims handling in the industry, which it said was designed to determine whether there were any systemic concerns.

But the idea of ongoing release of claims information from individual insurers has sparked concerns that it could lead to a “leaderboard” concept among insurers, who would avoid rejecting claims in order to get a higher placing, with fewer rejections compared to competitors.