BLM's casualty team has prepared a detailed analysis of the latest portal statistics published by the Claims Portal Company. These statistics show following key points:
- A decrease by 3.60% in the number of CNFs sent/received for EL claims when comparing the average for November 2019 to January 2020 with the average for November 2018 to January 2019. In comparison, there was also a decrease by 5.70% in the number of CNFs sent/received for PL claims when comparing the average for November 2019 to January 2020 with the average for November 2018 to January 2019.
- The overall statistics show that there has been a slight decrease in the number of CNFs sent/received for EL and PL claims since 2014. It is predicted that there will continue to be a slight decline in numbers in 2020.
- On average, 3,658 EL and 4,518 PL claims were submitted in the portal each month during 2019. During this period, the highest number of both EL and PL claims was submitted in July 2019. However, the difference each month in the number of submitted EL and PL claims has not been significant and overall statistics remain relatively consistent despite there being a slight decline when comparing year on year.
- The statistics indicate that claim numbers for 2020 will be at similar levels to claim volumes for the previous 12 months. An analysis of claim volumes for the portal year (1 August 2018 to 31 July 2019) revealed that there was a decrease in the number of CNFs sent/received compared to the previous portal year (1 August 2017 to 31 July 2018).
- Nearly 50% of all EL and PL claims exit the portal at stage 1 of the process but there has been a gradual decline each year. It is predicted that the majority of exits from the portal will continue to occur at stage 1, which is supported by the statistics for previous years along with the current figures for August to October 2019.
- The recently published statistics show that there has been a decrease in the number of stage 2 exits. Again, it should be noted that this decrease is minor and will have no real effect on claim numbers in the portal. However, it is positive that more claims are remaining in the portal because this should result in lower insurer spends.
- The number of court packs created for EL and PL claims increased when comparing November 2019 to January 2020 with November 2018 to January 2019. It is predicted that there will be a similar increase in the number of court proceedings packs created in 2020 if there continues to be less settlements at stage 2 and fewer claims exiting the portal.
- There has been a decrease in the number of unresolved claims in 2019 compared to the figures for 2018. This is positive because there had been a significant rise in the number of unresolved claims in 2017 and 2018 when compared to previous years. However, there needs to continue to be a significant decline in unresolved claim numbers in 2020 in order to reach pre-2017 figures.
The full analysis report can be accessed here.