Transformation and talent on claims agenda
Fri 04 Mar 2011
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In this feature, we bring you an update from Lloyd's Performance Management Directorate (PMD) including key dates and the agendas associated with the forthcoming Market Oversight presentations, the Claims Transformation Programme, and the recently launched Claims Talent Programme.
Market Oversight - Upcoming presentations to the market
Friday 13 May
Tom Bolt will be presenting to the market’s CEOs and Underwriting Directors. The agenda for this presentation includes:
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A view of the current market conditions
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Specific challenges and areas of focus for the forthcoming 2012 Business Planning season
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An opportunity for attendees to raise any issues and give us appropriate feedback
Wednesday 25 May
Tom Bolt and various PMD senior managers will be presenting to the market’s Non-Executive Directors. The key themes of this presentation includes:
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An explaination about the workings of a number of PMD departments
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An outline
of the strategic objectives of the Directorate going forward
- An opportunity to ask questions and obtain a greater understanding of our day to day operations
Claims Transformation (CTP)
Updated Claims Management Principles and Minimum Standards are being consulted on with the market, via the LMA. These will be revised in light of the feedback and published by 31 March, after which managing agents will have nine months to prepare prior to formal “roll out” from 1 January 2012.
Claims Service Targets, which address performance against selected Key Performance Indicators (KPI), are undergoing the same process.
This enhanced governance is designed to raise the level of claims performance, cope with changes from Solvency II, and support expansion of the CTP pilot. The pilot continues to exceed its success criteria, and proposals are being put to the Franchise Board to both expand the pilot scope and also deliver the End Vision for claims.
Click here for more information on the CTP, its background, and improving claims processes.
Claims Talent Programme
The Claims Talent Programme aims to promote claims as a recognised profession in the market and to develop future talent in a field of insurance that is essential to our competitive success. There will be two intakes for the first year of this new programme - market practitioners and graduates.
Applications for the market practitioner programme have been reviewed, selection interviews are currently being held and will commence on 4 April.
CTP information for market practitioners is available here.
The graduate intake will join in September; two graduate assessment centres have already been held with a further one being held in March.
Further CTP information for graduates is available here.
