Andy Milburn of Munich Re has told life assurers that death claims should be paid more quickly. His goal is to eventually get death claims paid within a week, something he urged the rest of the industry to embrace. He argues that there is no need for insurers to wait for probate to be granted as it is fairly clear whether or not someone is dead. His blunt arguments are an attempt to rebuild customer trust in an industry that suffers from falling sales and poor product and customer service innovation.
Life insurance: News update: 27 July 2010