Research by Risk Placement Services has found that administrative mistakes are putting customers insurance policies at risk, and costing the industry around £65 million.
This follows the Financial Services Authority's review that highlighted the need for proper disclosure of medical information for critical illness cover, as many customers are finding that they are not adequately covered by their insurance, and around half of rejected claims for critical illness are due to poor customer disclosure.
Our view
We believe that human error accounts for mouch more damage than this across the planet. Everyday we deal with organisations where staff have made errors.
The simple answer is consider what we at do, automate the monotonus tasks where errors occur out of boredom.