InMyBag: “Prehistoric” approach overcomplicating insurance process

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In best case scenarios, claimants have to wait 10 days on average for replacement smartphones, tablets or laptops

Outdated practices in the insurance industry are causing claimants to have to wait an average 10 days to receive a replacement gadget after a claim is made.

According to research conducted by InMyBag most providers of insurance aim to replace lost or stolen devices in the 10-day timeframe but such targets can only be achieved if there are no issues during the process.

The insurer also found that mobile insurance customers actually wait around 15 days for their claims to be processed and also have to suffer an outdated process before starting to make a claim.

InMyBag CEO Gustav Holst Stuge (pictured) said that the insurers are not keeping up with the mobile industry that they serve.

He added: “When you think about the number of people who rely on smartphone, tablet and laptops on a day-to-day basis, the thought of waiting at least ten days to have something replaced is prehistoric.

“Also consider that nearly half of Brits worked from home int he last year, being stranded for nearly two weeks without technology is simply unacceptable and is a huge concern for them.

“The majority of insurance companies make their customers jump through endless hoops when making a claim, which heaps even more worry on people who have just been victims of theft or loss.”

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