What's Happening?
Claims Consortium Group has issued an open letter to the UK education sector, highlighting the urgent need to address the skills gap in subsidence claims management. The letter calls for initiatives to attract and train new talent in response to increasing subsidence events. The sector faces challenges such as wage inflation and recruitment difficulties due to existing skills shortages. Steven Coxon, head of subsidence claims, emphasized the importance of early career interest to ensure future capacity. Subsidence claims have surged, with the ABI reporting £153 million in claims for the first half of 2025.
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Why It's Important?
The growing frequency of subsidence events poses significant challenges for the insurance industry, impacting its ability to respond effectively to claims. Addressing the skills gap is crucial to maintaining service quality and supporting policyholders during subsidence events. The industry's proactive approach to training and recruitment can mitigate future risks and ensure sustainable operations. Failure to address these issues could lead to increased costs and reduced customer satisfaction, affecting the industry's reputation and financial stability.
What's Next?
The insurance sector may collaborate with educational institutions to develop specialized training programs for subsidence claims management. Industry-wide initiatives could be launched to attract young professionals and enhance technical expertise. The Subsidence Forum's ongoing efforts may gain momentum, leading to more comprehensive strategies to tackle the skills gap.
