If you’re a claims head in the Lloyd’s market, then it is likely that high on your agenda is your managing agency’s claims brand and reputation. It is a chief priority, along with straight-through processing and automation, according to a survey commissioned by the Lloyd’s Market Association (LMA).
The LMA poll found that more than 90% of claims leaders in the market regard reputation as among their top three priorities. Next on the list is straight-through processing, particularly when it comes to delegated authority claims.
Automation, meanwhile, is considered an immediate necessity within market-wide modernisation.
“Canvassing the opinion of three quarters of all heads of claims at Lloyd’s managing agents has clearly highlighted the challenges ahead and the pace of change that is currently being demanded of claims departments,” commented LMA Claims Committee (LMACC) chair Tony Rai, who is also head of London Market Claims at Hiscox.
“The LMACC undertook this detailed study to gain a clearer understanding of the fast-changing claims landscape, which will enable us to prioritise our efforts to best support the claims community within Lloyd’s.”
