How temporary employees can relieve pressure for QLD & NSW flood claims

The Insurance Council of Australia (ICA) estimates the current cost of claims from flooding in Queensland and New South Wales to be $1.77 billion.

Australia is one of the most exposed countries to natural disasters, yet surprisingly, it is one of the most underinsured amongst developed countries. With over 118,000 claims lodged , as at the 10th of March, the country is in one of their worst claims events ever recorded.

63 per cent of claims are from Queensland and 37 per cent are from New South Wales. 81 percent of all claims are for domestic property, 16 per cent for motor vehicles and 3% for other items.

Fortunately for Queenslanders, the government announced a Resilient Residential Recovery Package, worth over $700 million, to support those who had been significantly impacted by the floods.

This event has come after the COVID-19 crisis at a time where suppliers are still working hard to meet a backlog of demands. Lack of labour is a key factor to the supply chain issue.

Lack of labour and materials to help with rebuilding and recovery is driving costs of claims up. Supply chain issues which existed before the floods are exacerbating claims timelines and, as more claims roll in, the situation is expected to be far from over. The cost of premiums is also expected to rise which could worsen underinsurance in Australia.

With management of policyholder expectations and claims costs, insurance providers already have enough on their plate. Another challenge will be ensuring there are enough claims personnel to manage the crisis.

The shortage of claims personnel existed before the flooding event. When Australia closed its borders at the start of the pandemic, it lost over 600,000 people in its workforce due to lack of skilled migrants and the insurance industry was no exception.

As a partner to the insurance industry and with the intention of supporting our wider community, Fuse Recruitment is committed to being agile and responsive as our clients’ business needs change.

Being in the industry for over 10 years, we have built a pool of top talent who are immediately available for temporary assignments. Our candidates are experienced and can adapt quickly to new and fast environments.

Our insurance specialist teams are well equipped to source candidates no matter where our clients’ businesses are based.

Whether you need Claims Assistants, Administrators, Customer Service Consultants or Account Executives, we’ve sourced them all and can source them for your business when you need them.

Aside from assisting you with your workload in times of crisis, the benefits of hiring temps are very rewarding. Learn more about the benefits of hiring temps here.

If you urgently need temps, fill out the form on this page and one of our consultants will be in touch shortly.