Thursday Thought-Leaders: Navigating the Storm | Enhancing Insurance Claims Processes Post-CoFI

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

1. 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.


2. Identifying and Addressing Vulnerable Consumers in Claims Processes
   Learn strategies to recognize and support consumers in vulnerable circumstances, ensuring equitable treatment during claims.


3. 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.