Crawford debuts tailored logistics & freight division

Crawford debuts tailored logistics & freight division

Crawford debuts tailored logistics & freight division | Insurance Business Asia

Insurance News

Crawford debuts tailored logistics & freight division

Veteran loss adjuster takes helm

Insurance News

By
Roxanne Libatique

Crawford & Company (Crawford) has rolled out a new logistics, transportation & freight division in Singapore, specifically designed to provide tailored services to insurers supporting logistics service providers and freight forwarders.

This division capitalises on Singapore’s strategic importance as a major logistics hub and aims to meet the growing demand for specialized claims handling in the region.

Crawford logistics, transportation, and freight division

The team assembled by Crawford consists of experienced local loss adjusters, dedicated to managing complex claims within the logistics and transportation sectors.

Arne Eisfeld, Singapore country manager for Crawford, explained that claims in the logistics industry can often be complex, especially when multiple service agreements and parties are involved. Claims might range from property damage in logistics warehouses to liability claims involving freight forwarders and comprehensive general liability policies.

“Our team, which includes experienced adjusters with both non-marine and marine claims backgrounds, is well placed to assist,” he added.

Crawford logistics, transportation, and freight division leader

The division is led by seasoned loss adjuster Dan Yeo (pictured), who brings over 30 years of experience in marine claims and loss adjusting.

Commenting on the new division, Yeo highlighted the need for deep industry-specific knowledge in handling claims in this sector.

“Having a solid understanding of the insureds’ business is key to best practice loss adjusting services in this very specialised sector,” he said.

See also  Top 5 Insights from INTRConnect 2024

He further noted that the logistics landscape has become more complex, driven by the outsourcing of services and the integration of global supply chain technologies.

“Claims that arise require quite specific expertise. The risk and insurance community needs a team of experts with the industry focus to evaluate and assess damages under extreme conditions,” Yeo said.

Eisfeld emphasised that Crawford formed this specialised team in response to client needs for more focused claims expertise in the marine and transportation industries.

“These types of claims are not for general adjusters; they require certain expertise by adjusters who specialise in the marine and transportation industries and beyond,” he said.

The Singapore team has a collective 85 years of experience, including co-director Jackson Yeo and other key members such as Luo Guo Liang, Eunice Jang, and Cirilo Cabesas.

This comes as the competition for talent in the insurance industry intensifies, with the report noting that employee willingness to switch jobs has risen by 179% compared to last year. Additionally, only 33% of employees expressed intent to stay with their current employer, down from 76% the year before.

Aging demographics across Asia are also impacting the workforce. According to the Asian Development Bank’s Aging Well in Asia report, the percentage of individuals aged 60 and over is projected to rise from 9.7% in 2010 to 25.2% by 2050. This demographic shift is expected to reduce the number of new talent entering the workforce, putting additional pressure on employers to improve their offerings in order to attract and retain talent.

See also  Argenta and Helios partner on curated Lloyd’s syndicate investment strategy

Insurance Business Asia conducted a survey to recognise the top employers in the insurance industry, inviting companies to submit information on their workplace practices. Employees from these companies rated their employers on factors such as benefits, compensation, workplace culture, employee development, and diversity.

Companies that received a 75% or higher satisfaction score from their employees were named as Top Insurance Employers for 2024.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!