PRESS RELEASE
11 April 2019
‘Talent & tech' key to delivering world-class claims service, report finds
The Lloyd’s Market Association (LMA) and PwC today published a report, following engagement with London market carriers, on the transformation of their claims departments.
The report, entitled Claims Workforce of the Future - London Market, found that while high-calibre technical claims handling skills are prevalent, a better balance is needed between those and various supplementary skills such as data analytics and customer experience management.
Other key findings include:
- new skills and processes are required to successfully transform the London market
- a shift in emphasis is needed by insurers to be much more customer-centric
- technology is not a panacea: culture, processes and approach need to change
- better support is required for claims staff to adapt to the ‘new world’.
Lee Elliston, Claims Director, LMA said: “Technology is bringing sweeping changes, challenges and opportunities. It is enabling process changes, as part of the market’s transformational efforts, to keep pace with ever-increasing customer expectations. However, the analysis and insights within this report clearly highlight that better supporting people to adapt, develop and lead in modern claims environments is crucial. This will help further the transformation of claims in the Lloyd’s and London market, to deliver a modern, world-class claims service to our customers”.
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Notes to Editors
PwC and LMA report ‘Claims Workforce of the Future - London Market’ is available to download here: www.lmalloyds.com/LMA/Claims/Claims_Workforce_of_the_Future.aspx
Media relations contacts
James Milne, Communications Director, LMA
Tel: 020 7327 8405; Email: james.milne@lmalloyds.com
Richard Adams, Haggie Partners
Tel: 0207 562 4444; Email: richard.adams@haggie.co.uk
About the Lloyd’s Market Association (LMA)
Formed in 2001 and located in the heart of the Lloyd’s Building in the City of London, the Lloyd's Market Association represents the interests of the Lloyd’s underwriting community. All underwriting businesses at Lloyd’s are members, together managing gross premium income of around £31billion per annum.
For more information visit: www.lmalloyds.com