In early 2023, Aotearoa New Zealand faced unprecedented weather events, including the Auckland Anniversary Weekend Floods and Cyclone Gabrielle, resulting in significant damage and over 118,000 insurance claims.
While insurers responded promptly, the Financial Markets Authority (FMA) identified areas for improvement in the claims process.
This webinar delves into the FMA's findings, focusing on enhancing consumer experience, aligning with the new Conduct of Financial Institutions (CoFI) regime, and ensuring preparedness for future extreme events.
Key Takeaways
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Understanding the CoFI Regime's Impact on Insurance Claims
Explore how the CoFI regime reshapes insurers' responsibilities, emphasizing consumer-centric approaches and transparency in claims handling. -
Strengthening Communication, Education, and Oversight in Claims Processes
Examine how insurers can lift standards in communication, provide clearer education for customers, and improve oversight to deliver better outcomes -
Enhancing Business Continuity and Preparedness for Future Events
Discuss best practices for developing robust business continuity plans, incorporating scenario testing, and leveraging technology to streamline claims management.
Speakers
Jane Brown, Head of Insurance, Financial Markets Authority – Te Mana Tātai Hokohoko
Maria Wilson, Senior Adviser, FMA
Sponsor
