60 seconds with...Head of Claims, David Lang
Mon 02 Jul 2012
With all classes of business coming within scope of the Claims Transformation Programme (CTP) today, we chart the journey so far and find out what’s ahead.
How do you feel about CTP progress so far?
Incredibly encouraged. At the start of the programme we agreed on four crucial performance measures to tell us if we were succeeding; speed, quality, market perception and cost. So far, we’ve exceeded what we aimed to achieve in all four.
We’ve delivered a 44% reduction in the time taken to respond to a claim transaction, without impacting quality.
It seems like Claims are getting a much higher profile within Lloyd’s these days, what’s made the difference?
By being clear about what we do and how we do it, and why we’re changing things. Everyone then understands where they fit in the market, helping them improve their part in the process and thus progress overall customer service. Ultimately, it will be this customer experience that distinguishes the Lloyd’s market from its rivals.
So what benefits are there to extending segmentation of claims?
Lloyd’s excels in handling large and complex claims but needs to treat smaller, standard claims differently. With CTP, a single party can agree a standard claim on behalf of the entire market. This reduces the time taken and releases expert resources to deal with more complex claims.
What’s coming up for the CTP in the future?
Plenty. We are consulting on a Volume Claims Service, to handle those high-volume, low-value claims; working on a new Claims Reporting Suite for managing agents; and a proposed Broker Portal to facilitate the notification of claims.