The role of the Claims Performance Management team is to evaluate and improve claims management performance across the market.
The team monitors the market’s performance against Lloyd’s Claims Management Principles and Standards. The team is also responsible for the identification, assessment and the coordination of the market-level response to emerging risks, escalating both syndicate-specific and market-wide issues where appropriate within the Lloyd’s performance management framework.
The Claims Performance Management team is additionally responsible for providing support to the market in its handling of complex claims issues and in facilitating the efficient response to catastrophic loss events. This includes coordinating the provision of accurate data to the market and providing a centralised facility for the notification of losses.
Members of this team maintain relationships with a portfolio of managing agents and contribute specific class-of-business knowledge.
Role of Management Information Team
The Claims MI Team analyses available data and produces reports to help measure claims operational performance, identify risk and enhance market performance. The team has developed a service which delivers to Lloyd’s and managing agent users an online set of dashboards known as the Claims Reporting Suite. This is interactive dashboards for ten claims KPIs and easy access to underlying data. The aim was to create ‘one version of the truth’ to support the market in reaching its vision of claims excellence. In addition, the team produces several regular claims reports to both Lloyd’s and market users and provides additional claims analysis in response to various ad-hoc queries.
Conducting business in over 200 territories, Lloyd’s syndicates write risks which are truly international. The managing agents in London have responsibility for ensuring that wherever they arise, all valid claims are paid promptly by the syndicates under their management.
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