Claims Performance Management

  • Claims Performance Management Team

    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.

     

  • Lloyd's International

    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. 

    Managing agents are required to ensure that they comply with Lloyd’s Byelaws, Claims Management Principles and Minimum Standards for all their claims worldwide. This responsibility includes oversight of third parties to whom managing agents outsource any element of the claims handling process, including coverholders, service companies and third party administrators. Further details of the markets in which Lloyd's does business can be found in Lloyd's Market Intelligence area.

  • Coverholders

    Approximately 30% of the business written by Lloyd's is written via delegated underwriting authority arrangements known as binding authorities.

    Claims under these policies are often handled by third party experts on behalf of the subscribing syndicates.


Paper-to-ECF Scanning Service

The Paper-to-ECF Scanning Service to convert those paper claims to electronic claims is live. To find out more or to register for the service click the link to visit the Scanning Service page.

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