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CED International Conference provides insight in an insurance industry that is put into change

On 1 June, cross-border claim specialists from different countries convened for the CED International Conference in Madrid, Spain. Various international speakers inspired the participants to enhance the dialogue on current and future challenges in a 21st century claims environment across Europe. The huge differences across Europe in personal injury compensation, the threat of global terrorism and the use of modern day technology in the claims process are only a few issues that push the insurance industry into change.

The conference opened with an update on Cross Border Claim handling. Sandra Schwarz, Managing Director German Green Card Bureau and Verkehrsopferhilfe and Vice President of the Council of Bureaux spoke about the protection of victims of cross border accidents, the need for financial stability in the system and future challenges with respect to the 4th Motor Insurance Directive. The handling of claims arising out of terrorist attacks with international victims is – unfortunately – of growing importance. Alejandro Izuzquiza Ibáñez de Aldecoa, Operations director at Consorcio de Compensación de Seguros explained how his organisation handles claims related to extraordinary risks, such as natural catastrophes and the coverage of the risk of terrorism in Spain. The morning programme was closed by two true experts on personal injury: José Cobos and Kieran Mitchell. José Cobos gave insight in assessing bodily injuries in different EU countries. He argued that it is about time to have a European scale of reference. Kieran Mitchell closed the session with an interesting case, that was clearly opening the eyes of the participants and gave a better understanding in the calculation of personal injury compensation in the UK.

After lunch, the focus moved to trends and technological developments affecting the claim handling process. Chris Lader, program manager at CED demonstrated the latest innovation of CED: CED Connect. This platform shows how digital innovation adds value to the claim handling process, in terms of customer excellence, increasing productivity and claims cost control. Chris was followed by Francisco Fernández Martínez, Stolen Vehicles Area Manager at Centro Zaragoza, who put attention to trafficking and recovery of stolen vehicles in Europe. The keyword is cooperation, in our attempts to cover fraud.

Blockchain technology and bitcoins are to become an integrated part of our daily lives, argued the last speaker of the conference, Hamza Jap-Tjong, Corporate Strategy & Business Developer at CED. He illustrated that using blockchain technology creates a chain showing every transaction in history. As a result: a very high level of protection and security, les omissions and faster exchange of data. Since committing fraud on the blockchain is virtually impossible, it is a very interesting technology for the insurance industry.

The CED International Conference proved again that is a great annual opportunity for networking and exchanging knowledge en experience for clients and partners of CED.

Please refer to this link for the presentations of the Conference.

Please refer to this link for the photos of the Conference.