Stelliant Loss Adjusting: at the centre of the insurance industry
There are over 700 companies and nearly 500,000 employees in the banking and insurance industry in France. Between regulatory changes and the digitalisation of their work, those in the industry are facing new problems in claims and risk management that challenge their ability to adapt.
There are over 700 companies and nearly 500,000 employees in the banking and insurance industry in France. Between regulatory changes and the digitalisation of their work, those in the industry are facing new problems in claims and risk management that challenge their ability to adapt.
Insurance and banking industry players
Many different people work in the insurance and banking industry:
- On one side, there are financial institutions: deposit banks, commercial banks, investment banks, asset managers, investment funds, trading companies, etc.
- On the other side, there are insurance companies, brokers, reinsurers and mutual insurers.
These are two distinct, but increasingly interwoven, fields. In fact, for several years, banks have offered insurance products, just as insurers have developed banking service offerings.
In this setting, with digital transformation also playing a bigger and bigger role, companies in the industry are particularly exposed to cybercrime risks, with significant financial consequences for both them and their customers. Meanwhile, financial institutions have to deal with significant fraud risks (internal and external). This phenomenon has not stopped growing: in 2017, 30% of companies were victims of fraud, versus 25% in 2016.*
What’s more, companies in this industry can be held civilly liable by a third party in the course of providing their services.
Claims loss adjusting for the insurance/banking industry
With loss adjusters specialising in the banking and insurance industry, Stelliant Loss Adjusting is able to respond quickly and confidently to any type of claim.
Financial institutions that fall victim to fraud can count on our loss adjusters to conduct a thorough investigation to understand the fraud mechanism at work, while assessing the financial consequences for both the institutions and their customers. In the event of damage caused by a cyber attack or a flood compromising the company’s information system, premises or personnel, Stelliant Loss Adjusting also has the thorough understanding of the industry needed to calculate the damage of the company’s business interruption.
Stelliant Loss Adjusting is equally skilled in Civil Liability, and mobilises when anyone in the banking/insurance industry is held liable by a third party. After thoroughly analysing the complaints made against the company, the loss adjusters deployed are able to assess their merits and, if needed, objectively calculate the financial repercussions for the third party.
