The objective is to remain ahead of competitor markets with regard to complex claims service and to be competitive on standard claims. This will enable Lloyd's to attract and retain quality business, maintaining and enhancing the market's reputation.

> Volume Claims

Lloyd’s launched its shared service for Volume Claims (VCS) in January 2014, marking another significant milestone in the Claims Transformation Programme (CTP). VCS is designed to handle high volume, low value claims which make up around 85 per cent of total claims in the Lloyd’s market.

  • Background

    In February 2008 the Lloyd's Franchise Board accepted the recommendations of a Lloyd’s Market Strategic Claims Review and approved plans to implement those recommendations. This became known as the Claims Transformation Programme (CTP).


    The review considered brokers’ and customers’ requirements, the opportunities presented by electronic trading, options for shared claims services and the skill sets needed by managing agents to meet the challenges of a changing market.

    To achieve the ultimate objective of enhancing the customer experience, eight CTP workstreams were originally defined:



    The Claims Implementation Board (CIB) was a body established by Lloyd’s consisting of representatives from managing agents and Lloyd’s with the objective of implementing CTP.

    CTP has been delivered successfully; the eight workstreams have now become components of claims at Lloyd’s.


  • Claims Agreement Framework

    In order to achieve the objectives of CTP, a revised claims determination framework was devised and tested by the 2010 Claims Scheme Pilot (the “Pilot”) in the marine, property and casualty treaty classes from 1 January 2010. The 2010 Claims Scheme requires that standard claims are agreed by the leading syndicate only on behalf of the subscribing Lloyd’s market.

    Success criteria for the Pilot, agreed by the Lloyd's Franchise Board, were based on expected benefits and comprised faster transaction times while maintaining quality, market perception and without an increase in cost. The Claims Implementation Board and Franchise Board kept the Pilot’s performance under review. In February 2011, the CIB and Franchise Board concluded that the Pilot was successful and the new claims agreement practices have now been rolled out to all classes of business.

  • Workstreams

    Current Workstreams



    Completed Workstreams

    Roll Out of 2010 Claims Scheme

    • Over 1,100 market adjusters have completed online CTP training.
    • Online training made available via internet to whole broking community.

    Large Loss Co-ordination

    • Development and deployment of the framework which supports the market response to large losses.
    • For further information on catastrophe management and the Lloyd’s Market Strategic Claims Group, visit the Catastrophe Portal

     Governance and Monitoring

    • This workstream introduced new governance tools to support a vibrant subscription market through embedded risk management.
    • Enhanced Lloyd’s Claims Management Principles and Minimum Standards introduced with effect from 1 January 2012, including new standards relating to service and proactivity.
    • Lloyd’s Claims Metrics for quantitative analysis of claims processing introduced in Q2 2012.
    • List of claims outsourcing arrangements created - see Market Bulletin Y4630 for full details.

     Process Efficiency

    • A broker claims dashboard, providing management information on claims performance for the largest 30 brokers in the Lloyd’s market, was developed in 2012.
    • The broker claims dashboard went live in November 2012 and is produced monthly.

    Broker Portal

    • The Broker Portal went live on Monday 15 July 2013.
    • The broker Portal is one of the web-enabled interfaces through which brokers input claims data.
    • The Broker Portal project included making several changes to market systems:

    Document Management Service (DMS): A new user facility for brokers that provides improved document upload, handling and validation functionality that has decreased errors associated with document submissions.

    Single sign-on (SSO): Which provides users with seamless interaction between CLASS, IMR and DMS by removing need to log onto these systems separately.

    Validation to original signing number and date (OSND) & unique market reference (UMR) data fields: Improved system validation which has reduced the number of errors associated with the completion of these critical fields.

    Managing emails and attachments: New user interface in DMS that enables users to upload emails, automatically extract all attachments and then provide them with the option of selecting/deselecting those to be uploaded to the IMR.

    Claims Practitioner Programme

    • Launched in 2010 with the aim of developing 50 claims professionals in 5 years.
    • Two high intensity 12 month programmes available to graduates, new to the Lloyd’s market, and existing high potential claims practitioners
    • Contextually aligned to the challenges and issues facing today’s claims professionals.
    • ______ graduates and market practitioners trained between 2010 - 14.
    • Ongoing Claims Practitioner Programme (make link)