Latest news with #insuranceclaims
National Post
27-05-2025
- Business
- National Post
1 in 5 Consumers Avoid Filing Claims Due to Frustrating Digital Processes, According to Insurity's Latest Survey
Article content Article content HARTFORD, Conn. — Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, announced new findings from its 2025 Digital Experience Index, a national survey measuring consumer sentiment around digital interactions with P&C insurers. The survey found that 22% of consumers have avoided filing an insurance claim because the process was too frustrating or complicated, highlighting a critical gap in the claims experience that insurers must address to protect trust, loyalty, and long-term value. Article content The survey also found that 64% of consumers would consider switching insurers for a more seamless digital experience, revealing how easily poor interactions, especially during the claims process, can drive customers to competitors. As insurers continue to advance their digital strategies in 2025 and beyond, prioritizing intuitive, user-centric digital experiences will strengthen retention and build long-term customer loyalty. Article content As digital tools become the primary channel for customer engagement, the survey highlights that poor claims experiences are not just process inefficiencies but key drivers of lost trust and reduced customer loyalty. This insight comes when insurers are under increasing pressure to modernize core systems, enhance operational performance, and deliver greater value to policyholders. While many carriers have made significant progress in digital transformation, the findings make clear that technology investment must be paired with a strong emphasis on user experience. Those investments may fail to deliver meaningful returns without intuitive, efficient, and responsive interactions, especially during critical moments like claims. Article content 'As carriers evaluate their core systems and digital infrastructure this year, the priority must be reducing friction where it matters most,' said Sylvester Mathis, Chief Insurance and Chief Revenue Officer at Insurity. 'A clunky or disconnected claims process frustrates customers and risks sending them elsewhere. When someone avoids filing a claim, despite having coverage, it signals a fundamental breakdown in trust. If policyholders feel friction, uncertainty, or inflexibility, they're less likely to file a claim, and far more likely to leave.' Article content This survey was conducted online in April 2025, and more than 1,000 adult participants were randomly selected across the United States to ensure a representative sample. Respondents were asked a series of 19 questions, ranging from multiple-choice to scale-based, to gauge their opinions on their digital experience. Data analysis was performed to identify key patterns and insights. Article content Article content Article content Article content Article content
Malay Mail
26-05-2025
- Business
- Malay Mail
Petronas Gas expects RM60m profit dent, RM170m in repairs after Putra Heights pipeline fire
KUALA LUMPUR, May 26 — Petronas Gas Bhd (PGB) is currently estimated to have a total profit impact of RM60 million for the financial year 2025 (FY2025). This figure combines repair costs and revenue loss resulting from a fire incident at PGB's main pipeline near Putra Heights in Puchong, Selangor, on April 1, 2025, said the natural gas transmission company in a Bursa Malaysia filing today. PGB said revenue loss due to service interruption is projected to be minimal at approximately RM20 million, owing to proactive collaboration between PGB, the authorities, gas shippers, and distributors in rapidly restoring pipeline services and stabilising supply. The group also said that the financial impact of repair works and asset restoration is estimated to be approximately RM170 million, subject to the investigation's final findings, and based on the current site conditions and the extent of asset damage. 'A significant portion of this amount is expected to be capitalised under the company's capital expenditure, with partial recovery anticipated through insurance claims,' it said. PGB said it continues to work closely and transparently with the authorities to determine the incident's root cause and identify contributing factors. An independent task force was also established to provide strategic oversight of the post-incident investigation, recovery and restoration activities, the safety of gas transportation infrastructure, and other related matters. — Bernama
Reuters
22-05-2025
- Business
- Reuters
SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
DUBLIN, May 22 (Reuters) - Aircraft lessor SMBC Aviation Capital has booked a further $654 million in proceeds from insurance settlements over the past year related to jets stranded in Russia following Western sanctions, the Irish-headquartered company said on Thursday. That brought SMBC's total recoveries from claims following the sanctions over Moscow's war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements. SMBC recorded an impairment of $1.6 billion in 2022 to cover the full financial impact of having 34 jets stuck in Russia after the sanctions forced the termination of all Russian leases. The world's third-largest aircraft lessor gave the update in its full year results to the end of March, which showed pretax profits rose 22% year-on-year to a company record $563 million, excluding the benefit of the insurance settlements. SMBC, owned by a consortium including Japan's Sumitomo Corp (8053.T), opens new tab and Sumitomo Mitsui Financial Group (8316.T), opens new tab, said its core lease rental revenue grew by 3% to $2 billion and its asset sales hit $1.9 billion following the sale of 48 older aircraft.
CNA
22-05-2025
- Business
- CNA
SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
DUBLIN :Aircraft lessor SMBC Aviation Capital has booked a further $654 million in proceeds from insurance settlements over the past year related to jets stranded in Russia following Western sanctions, the Irish-headquartered company said on Thursday. That brought SMBC's total recoveries from claims following the sanctions over Moscow's war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements. SMBC recorded an impairment of $1.6 billion in 2022 to cover the full financial impact of having 34 jets stuck in Russia after the sanctions forced the termination of all Russian leases. The world's third-largest aircraft lessor gave the update in its full year results to the end of March, which showed pretax profits rose 22 per cent year-on-year to a company record $563 million, excluding the benefit of the insurance settlements. SMBC, owned by a consortium including Japan's Sumitomo Corp and Sumitomo Mitsui Financial Group, said its core lease rental revenue grew by 3 per cent to $2 billion and its asset sales hit $1.9 billion following the sale of 48 older aircraft.
Washington Post
12-05-2025
- Health
- Washington Post
Digging into the math of a study attacking the safety of the abortion pill
The Ethics and Public Policy Center, a think tank that says it opposes 'the extreme progressive agenda while building consensus of conservatives,' recently issued a report on a key abortion medication, mifepristone, that it says raises questions about its safety. After analyzing insurance claims for more than 865,000 prescribed mifepristone abortions, the group said it had determined that almost 11 percent of women experienced a 'serious adverse event,' much higher than an overall 0.5 percent rate found in clinical studies.
