December 2019 report on CTP insurer claims experience and customer feedback comparison
The State Insurance Regulatory Authority (SIRA) has published the December 2019 issue of the CTP insurer claims experience and customer feedback comparison report.
This report compares insurers in the NSW compulsory third party (CTP) scheme against a range of evidence-based indicators that measure insurer performance over the course of an injured person’s claims journey.
The data helps customers make meaningful comparisons between insurers. People injured in motor accidents may also benefit from knowing what to expect from the insurer managing their claim.
The report includes measures that relate to:
- the number of statutory benefit claims accepted by insurers
- the speed at which insurers pay statutory benefits
- the number of claims referred through insurer internal review units
- the number and outcome of claims referred to the SIRA Dispute Resolution Service (DRS)
- compliments and complaints received about insurers
- the number and type of issues escalated to the SIRA Compliance, Enforcement and Investigations team
In this issue of the report, data for the first three measures is presented over two time periods: 1 January - 31 December 2018 and 1 January - 31 December 2019. The other measures are given as per the periods described in the respective sections of the report.
This information will be included in the 2017 CTP scheme open data – a user-friendly interactive tool for the NSW public and CTP scheme stakeholders to see up-to-date information on the scheme.