We’ve caught up with one of our speakers from our recent 10th Motor Claims Conference – Martin Milliner, Claims Director at LV=.
Here are his thoughts on the injury landscape going forward…
Looking forward, what influence do you think new tech will have on the injury landscape?
New tech will have a massive impact on the injury sector in the short to medium term. I’d expect a range of things to be in place in the next 3-5 years, including automated pain and suffering evaluation, the use of Virtual Reality based physio, CBT and other rehab related therapies, a huge step forward with technologically re-enabled claimants with neurological injuries, API based integrations with insurers and compensators to enable automated Ai based solutions to resolve lower value PI claims seamlessly.
If insurers don’t stand behind their customers with LEI post reforms could it become the new PPI!?
Possibly, it is disappointing that the MOJ and those involved in establishing the new portal/making the CLA come to life don’t appear to have LEI as an issue that needs tackling. Raising public awareness of the value and benefit of having quality LEI cover in place in the lead up to the CLA reforms is important.
The risk of hollowing out of cover or mis-selling a product that isn’t well understood by consumers is a risk and we have already seen 1 or 2 policies move worryingly in the wrong direction.
I would like to think that insurers would recognise this risk and continue to provide the existing levels of cover to their customers and would expect that in any event the FCA would intervene to protect consumers interests long before a PPI styled outcome occurred.
Are any insurers investing more into third party intervention to take care of claimants rather than dealing with the inevitable claim?
I think the answer should be yes. With the risk of “layering” in the absence of a Part 2 of the CLA and continuing bent metal cost creep post Hetherton v Coles there are many reasons for insurers needing to up their game on this.