Insurers told to speed up bereavement claims

Quick Summary:

Insurers could save time by using more digitised processes — such as electronic “verification of death” to avoid the need for sending paper death certificates, it said.

The watchdog said consumers could be suffering “financial loss from delayed payments” as well as “inconvenience and emotional distress from poor customer services” and “a loss of consumer trust in the insurer”.

It also found they took almost two months for whole-of-life policy claims and 20 days for “over-50” life plans.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Martin Arnold

Category: MarketsFinanceInvesting

Markets: United States

Topics: Insurers Firms Months Bereavement Life Financial Time Claims Process Watchdog Service

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 19:00:59 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 612 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23770595

View Article Analysis

About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 12 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 11 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details

Frequently Asked Questions