Loss adjusters have been challenged to match the new normal of positive disruption, which aims to digitise, optimise and automate their operations, as the world businesses develop at a fast pace that throw up new developments, regardless of the sector one works.
Former President of the Institute of Loss Adjusters of Nigeria, Chief Nwakibie P. O. Egbuniwe, made the remark at the investiture of the new president, Institute Of Loss Adjusters, Mr Reginald Egbuniwe, in Lagos.
Egbuniwe, taking cognisance of the series of developments in the last 50 years, and the avalanche of developments in the last two decades, said that: “Automation, artificial intelligence, and data are all beginning to have an influence on the (insurance) industry and invariably will impact on the loss adjusting sector.”
He noted that these changes have come to stay and new developments will continue to disrupt and lap on the previous set order, and stressed, “Of course, this is transformational, and we are only at that journey and the industry must embrace it. In developed market, remote claims inspections and assessments are now possible through satellite, drone or image capture technology and tools such as MirrorMe.”
In spite of the daunting challenge of constantly matching to catch up, Egbuniwe affirmed that it can be achieved.
The retired loss adjuster said the sure way to get it done, and be on top of the digital game is to, “In my opinion … follow and catch up with the emerging changes is by maintaining and upgrading one’s skill and knowledge.”
Upgrading skill and knowledge has become the hallmark of developed market, and stressing the certainty of this, Philipp Cremer, Allianz Global Corporate & Specialty, Global Head of Claims, said, “Just a few years ago, claims processes were mostly manual and paper based and many people could not have imagined handling claims remotely. Now technology plays a key role. AGCS cloud based claims platform has passed the test of the coronavirus with our digital claims processes proving resilient throughout the lockdown.”
The challenge in the Nigerian market, Chief Egbuniwe said, is not for the new president to achieve all by himself, but for all members of the Institute to leap above misconceptions around the suitability for harmony.
He urged all loss adjusters to support him, “in his efforts in facing this these challenges as they may affect the loss adjusting profession.”
He advised Reginald, the Managing Director, Grand Metropolitan Associates, that, “Three years term may seem long but when you have lived to my age you realise that the term is also short and must not be wasted.”
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