Claims inflation and personal injury claims - how insurers should respond to ensure business resilience

Claims inflation is a top concern for insurers all around the world. Claims inflation poses significant difficulties for insurers, including higher payouts, higher litigation expenses, under-reserving, premium computation and meeting customers' constantly changing needs.

Claims inflation requires immediate consideration to ensure business resilience and adequate claims management. Without careful mitigation strategies in place and regular communication between insurers and their customers, we predict that the current protection or coverage gap in the global personal injury market will widen.

Against this background, we have considered the key drivers of claims inflation on personal injury claims across 11 jurisdictions and how insurers should respond to this problematic business environment. Our key findings will be discussed in a global report being released in June 2023.

Join Partners Patrick Yeo and Lim Hui Ying as they share the key takeaways from our global report, and explore in more detail the most significant inflationary factors impacting personal injury claims in Singapore.