ANZIIF and general insurers set out a new framework for better claims and settling services

The competency-based framework outlines the professionalism that must be upheld by the industry.

Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and general insurers released a Professional Standards Framework aimed at enhancing industry trust and building confidence within the community, particularly in the realm of claims handling and settling services. 

ANZIIF has worked alongside industry stakeholders, the Australian Securities and Investments Commission (ASIC), and other industry bodies to develop a competency-based framework that outlines a clear pathway to improve the professionalism of the insurance claims handling workforce. 

The framework is designed to be flexible and suitable for a wide range of industry business types. The collaboration aims to improve outcomes for customers, attract and retain skilled professionals, and enhance confidence in the insurance sector's role within the community.

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Several companies, including Suncorp, Allianz, Youi, SURA, Austbrokers, QBE, Zurich, CHU, IAG, Sedgwick, and NTI, have initially endorsed the framework. 

The framework's voluntary nature indicates a commitment to good practice and professionalism. Implementation will take place gradually over the next two years, reflecting the industry's dedication to enhancing its practices and standards.