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Biggest Industry Changes in 15 Years

CLM’s Lifetime Achievement winners discuss industry changes since 2007

August 23, 2022 Photo

What would you say has been the biggest change in our industry since CLM began 15 years ago?

“The biggest change in the industry I’ve seen since CLM was formed is the emergence of a virtual end-to-end claims management capability. Enhanced processing and communication systems, improved data clarity, real-time performance transparency, improved vendor interactivity, and COVID-19 all combined to make it possible.”

Dean Harring, Chief Strategy Officer, Suite 200 Solutions. 2013 CLM Lifetime Achievement Award Winner.

“On the positive side, the prevalence and acceptance of mediation into the litigation ethos as a tool for both the ultimate resolution and to better understand the merits of a dispute as it evolves. On the negative side, I am sorry to say that from my perspective as a neutral, the environment between counsel seems to have become more aggressive, hostile, and antagonistic even in everyday communication.”

Frank Lattal, Founder and CEO, Lattal ADR. 2014 CLM Lifetime Achievement Award Winner.     

“The investment pouring into insurtech is staggering and has resulted in innovative ways to buy, sell, and deliver insurance services. The pace of change is challenging, but has created a variety of diverse employment opportunities in the industry.”

Jane Tutoki, Director, Boards of Fortitude Re and Sedgwick. 2017 CLM Lifetime Achievement Award Winner.

“The speed of change we are seeing is not only increasing, but our ability to adapt and accept these significant shifts is much greater than we would have anticipated. It is one of the most important, and most notable, lessons that emerged from the pandemic.”

Dave North, Executive Chairman, Sedgwick. 2018 CLM Lifetime Achievement Award Winner.

“It would be easy to say technology, but I am going with a noticeable change in disposition strategy. In the last 15 years, we have seen a significant decrease in civil trials to the point that only 1% of suits filed in federal court are tried. Nuclear verdicts, plaintiff financing firms, social inflation, and rising litigation costs have changed the landscape for claims professionals and defense attorneys. Claims with minimal or no liability now seem to have value.”

Vic Marmo, Assistant Vice President, Risk Management-Claims, Marriott Vacations Worldwide Corporation. 2022 CLM Lifetime Achievement Award Winner.

980

Number of students who have earned their Certified Claims Professional (CCP) designation since Claims College launched in 2013.

Source: CLM

41

Number of Professional of the Year award winners since the program began in 2012.

Source: CLM

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About The Authors
Fran Clark

Fran Clark is SME Manager at CLM.  fran.clark@TheCLM.org

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