Lloyd's - Resources, skills and management controls
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Claims management
Lloyd's Market
Performance management framework
Franchise Standards
Claims management
Claims philosophy
Resources, skills and management controls
Claims processes
Documentation
Claim reserving
Management of external service providers
Performance measurement
Claims agreement for subscription business
Important information regarding the application of these standards
Resources, skills and management controls
Principle
Managing agents should have appropriate claims resources, skills and management controls in each line of business they propose to write.
Minimum standards
Evidence of planned claims resourcing and succession planning for intended business portfolio.
There are job descriptions for each role.
Required skills have been identified and are being developed and supported via appropriate training and development processes.
Claims handlers have authorisation levels, which are reviewed and adjusted as circumstances require, and used as a management tool.
Performance criteria are explained to claims teams and individuals.
There is a structured process of annual performance review, used for learning and the management of performance.
Management controls/audits are used to monitor adherence to required standards.
Last updated on 08 May 2007
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Lloyd's is authorised under the Financial Services and Markets Act 2000. Lloyd's copyright 2008