The new Natural Disaster Response Model, launched by a collaboration between the Earthquake Commission (EQC) and a range of private insurers, is going to be a big win for policyholders.

In particular, those who are struck by the regular smaller-scale events across the country will benefit from quicker response times and a streamlined service.

Gallagher Bassett New Zealand CEO Craig Furness said the model will increase data efficiency and eliminate double handling.

“Home insurance policy holders will be able to deal exclusively with their insurer, addressing many pain points from past events,” Mr Furness said.

“The previous model had involvement from both EQC and the insurer, which often caused delays around validation of a claim and depending on the size of the claim, customer’s claims sometimes went through aspects of the claims process twice.

“This often led to delays when EQC needed to access data from insurers before they could even start assessing claims. The new model will make it more comfortable for policy holders, with increased data sharing speeding the claim handling time for insurers.”

Craig said the changes addressed the challenges many insurers found themselves in when smaller-scale events regularly impacted remote and inaccessible parts of the country.

“It can be understandably difficult for insurers to have constant resourcing in every area of the country that could be impacted by a natural disaster,” Mr Furness said.

“This lack of on-the-ground specialists can delay claim resolution timeframes when we see small claim events in Bluff or Napier or Kaitaia, so to have access to a nationwide network across the specialty can be a costly exercise for individual insurers.

“That’s where our partnership model can come in to help insurers access a network of specialists as and when they need to. This network will continue to be available to insurers through the new model and allow them to fully leverage the opportunities available through it. It’s great to see an industry-wide focus on ensuring the policyholder gets a better experience through this change, and we’re looking forward to supporting this in the new model.”

To learn more about how GB can help you leverage the introduction of the Natural Disaster Response model, connect with our experts today.

Blog Author

Craig Furness

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