Policyholder behaviour changes as a result of the pandemic show that speed of notifications slowed by 50% year-on-year in 2020 according to S&G Response data analysis.
The average elapsed time from accident date to notification was nearer 15 days average in 2020, compared to circa 10 days in 2019. The greatest slowdown came as a result of Lockdown 1.0 in April and May when the figure reached a 20-day average.
Notification speed increased during Lockdown 2.0 to circa 13 days but slowed again in January 2021 (Lockdown 3.0) in-line with a natural, seasonal variance due to the festive period.
Another key finding from its data analysis has seen a reduction in calls during ‘non-core hours’ (8pm to 7am) with communications spread more evenly throughout the day.
Alongside the statistical observations, S&G Response Operations Director, Nick Stone said, “The greatest change brought about by Covid-19 is the increase in transparency, collaboration and communication that we are seeing amongst our customers. As a result of the global pandemic the metaphorical walls that used to exist between various parts of the market, have been broken down.”
“Whether that is regular and incisive communication with our people, our customer’s, our supply chain partners, or wider stakeholders, the need for regular dialogue with critical stakeholders has never been more important.”
