The Role of Actuaries in Claims Management - Actuaries Podcast

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Angat Sandhu interviews Katherine Gobbi, CEO of EMLife, on the role of actuaries in claims management, and key trends in technology and serving customers.

Katheirne Gobbi leads a team of life insurance claims specialists dedicated to making life easier for insurance partners and their customers. She met with Angat Sandhu on September 19 to discuss current issues in claims management, scrutiny of life insurance and what improvements are needed.

Listen to "The Role of Actuaries in Claims Management" on Spreaker.

Kath acknowledges the importance of investment in technology to better empower consumers and claims managers in creating an understanding environment while minimising administration work:

“We’ve seen all of our clients invest significant amounts to better empower both the customer in their navigation of the claim but also the claims managers and from our perspective, the environment you create for your case managers is then the environment they create for your customer”. – Kath Gobbi

Angat asks a range of question including;

  • What are the most important trends you are seeing in claims management?
  • What is most important from a customer’s perspective?
  • There has been a fair bit of scrutiny on claims practices recently, what are some takeaways for the insurance industry?
  • If there is one thing that will be different about claims management over the next 2-3 years, what do you think it will be?
  • How can actuaries play a greater role in improving claims management processes?

Kath acknowledges that more needs to be done to achieve better methods around increasing recovery time:

“this approach ... considers the person in their environment, the psychological impact of injury or disability, but also the psychological challenges and stresses that we’re all carrying day to day”. – Kath Gobbi

Kath has over 15 years of experience in personal injury claims management and working with regulatory bodies.

Kath discusses how actuaries can validate and refute data to better understand patterns in biopsychosocial behaviour and how strong social interactions and networks increase the likelihood of a faster recovery.

“those who have strong social networks are those who are more resilient, and more likely to recover. We’re trained to understand those bio-psychosocial barriers to recovery”. – Kath Gobbi

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About the authors

Angat Sandhu

Angat is a Partner in Oliver Wyman’s Financial Services Practice and leads their Australian Insurance and Wealth Management practice. He is motivated to improve consumer awareness and trust in these sectors and believes the industry needs to further increase transparency, simplify and make better use of advances in technology and analytics. Prior to joining Oliver Wyman, he worked at Macquarie Group and Towers Watson. He is an Actuary, a holder of the right to use the Chartered Financial Analyst® designation and the Financial Risk Manager designation.

Katherine Gobbi

Katherine is the founding CEO of EMLife, a Joint Venture subsidiary of the EML Group, established in 2016. Katherine has over 16 years’ experience in the Insurance Industry and has held many Senior Leadership roles including working with Regulatory Bodies and more recently EML. Katherine is a passionate Leader who has extensive experience in personal injury claims management. Her passion for the Customer is matched only by her passion for her People and evidenced in the culture she has built within EMLife - based firmly on the foundations of Integrity, Customer Centricity, Innovation, Empowerment and Alignment to a higher purpose.

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