Technical expertise

We provide a centre of expertise to support and advise our members, which enables us to develop smart solutions in the best interest of the market. This is achieved through the activities of our technical teams, each of which are engaged with our members and the market in their specific areas of expertise, to provide great outcomes.

Our teams

  

 



Patrick Davison
Underwriting Director

The LMA Underwriting Team works in support of underwriting excellence in the Lloyd’s market. This core function ranges from model wordings development to research and consensus-building in complex areas that are of concern to the market.

The Team interacts with Lloyd’s Corporation and many other market organisations, both in London and internationally, representing our members’ interests across all aspects of underwriting. Current hot topics include the development and implementation of the new Lloyd’s Insurance Company (LIC) Europe operating model, cyber risks and exposures, principles-based oversight of underwriting in the Lloyd’s market and the impact of the Future at Lloyd’s.

The team manages committees in most classes of business, bringing together invaluable expertise of many market specialists in pursuit of underwriting excellence. The team also publishes thought leadership material via a number of channels, using their own expert knowledge as well as market expertise.

The team works closely with the LMA Academy to ensure that the educational requirements for underwriters at all stages of their career in the Lloyd’s market are well provided for.

“Our mission is to help our members be the best in a very competitive and global market place.  The team works tirelessly to ensure that the Market has all the tools available to enable underwriting success."

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Claims

The LMA claims team, via member engagement and the claims committee governance, is set to support and influence the market and Lloyd’s claims strategy and priorities to advance and deliver technical, operational, and educational outcomes that enable claims service excellence.

The LMA Claims Committee has set strategic objectives to 2023/24 that enable and support the market in evolving and enhancing claims practices, standards, processes, technologies, and skills. Some of which form part of Future at Lloyd’s, which requires collective influence and collaboration between the market and Lloyd’s to ensure the markets priorities are delivered.

Key focus areas for 2022 include:

 

  • Brand & Profile – a campaign that can professionalise claims and connect to the wider industries efforts to increase public trust and enhance the reputation of the claim’s profession, for clients, policyholders, and future talent
  • Technical Performance – Claim scheme reform, Re-Imagining Oversight (RIO), and technical and operational claims guidance linked to emerging risks, claims trends, and service management, including Social inflation, ESG, and Operational Resilience
  • Digitisation – Future at Lloyd’s is targeting the transformation of claims data, processes, and technologies via DXC build and service delivery
  • Talent & Skills – ongoing development of the Claims Curriculum to provide enhanced educational claims offerings via the LMA Academy, supported by the Claims Workforce of the Future initiative that continues to engage the market on the change that is required to develop culture, roles, skills, and talent for the future, and will be championed by our NextGen Claims Committee.

 

Visit Claims

 

 

 



Rob Myers 
Operations Director              

The LMA Operations Team is focused on supporting and influencing both ‘Run’ & ‘Change’ agendas impacting LMA members and the wider London market. The team plays an active role in the governance and performance management of central technology and business process services provided by DXC/Xchanging, LIMOSS, PPL and Lloyd’s as well as engaging in related change projects to represent the best interests of managing agents and assure quality of the end-delivery. This often requires extensive interaction with other London market associations, Lloyd’s Corporation as well as the change leaders within supplier organisations.

Key focus areas for 2022 will include supporting the work of the new LMG Data Council, the Future at Lloyd’s (FAL) Digital Processing Service development with DXC/Xchanging, negotiation of new central services contracts with DXC/Xchanging, advancement of the improvements to the delegated authority operating model - through FAL and continuance of the LMA DARE initiative, supporting PPL market engagement on the adoption of the ‘Next Generation’ PPL service, continuation of coordination of Lloyd’s market operational resilience activities in relation to central service providers, brokers and the delegated authority eco-system.

The team will continue to engage LMA members through formal committee structures like the Operations and Delegated Authority committees as well as the Systems & CISO groups, informal forum meetings and 1:1 interaction. For 2022, we have established a new Next Generation COO Community which aims to strengthen LMA engagement with this important element of the LMA membership and benefit from their insights, experiences, ideas and expectations.

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Much of what our members and the LMA do is, at least in part, driven by legal or regulatory requirements. As such, we support our member and the wider market in complying with emerging issues and requirements in an efficient and proportionate way and support other LMA teams to integrate those requirements into their areas of work.

We participate on the main underwriting and wording committees to ensure that advice and wordings issued by the LMA are legally fit for purpose and that they are clear and appropriate for the jurisdictions where they are intended to be used. We ensure that external lawyers are used appropriately on LMA projects.

The Team has an important role in acting as a conduit between regulators, Lloyd’s and our members, providing formal market feedback on policy and supervisory developments, and digesting new policy for our members by way of guidance. An example is the LMA guidance on FCA pricing practices. We respond to a wide range of consultations impacting the Lloyd’s market. We also liaise closely with other insurance industry bodies and organisations such as the British Insurance Law Association.

In 2021, we set up a new Governance Forum for members to discuss corporate governance issues. The other established groups we run are the Lawyers’, Conduct Risk and Data Protection Forums, and Compliance Officers Group. We organise regular member liaison meetings through these groups. We provide company secretarial support to the LMA Board.

For 2022, our main projects will be continuing to focus on Lloyd’s Europe and the move to business as usual with the new Operating Model. We will be leveraging our work in 2021 on the FCA fair value requirements to deal with FCA consumer requirements. We will also be working closely with the LMA Academy to develop a new training framework for wordings professionals.

Visit Legal & Compliance

 

 

 



Paul Davenport 
Finance Director              

We support our members in areas ranging across finance, actuarial, exposure management, risk, audit, tax, and investment.

The delivery of Future @ Lloyd’s data initiatives, acquisition costs, reporting rationalisation and Project RIO (Re-Imagining Oversight) and their implications for the market, are our headline priorities going into 2022.

The LMA Finance Committee has set up a group selected from the market to work with Lloyd’s on the extent of the reporting burden.

We’re anticipating reviews of Solvency II reporting requirements by the PRA in 2022 as part of HM Treasury’s post Brexit review of the regulatory framework. A further group drawn from the finance community is set up going into 2022 to ensure the FERN2 contract with DXC/Xchanging, meets market expectations and to identify routes to realise benefits from digital processing.

We are looking to build on the work of our Climate Risk working group by contributing both resource and market expertise to the development and adoption of a climate impact measurement framework.

A further priority for 2022 for the LMA Finance Committee is to work with Lloyd’s to ensure capital loadings are fairly assessed based on actual results against plan, as well as the application of a broader framework of market sustainability metrics.

"From capital-setting to onerous reporting requirements, finance-related demands consume an ever-increasing share of LMA members' resources. Through our consultation with members, we are successfully working to redefine market process for reporting, performance management and capital planning to realise cost savings and maintain the market’s attractiveness for members and investors."

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Fiona Temple 
LMA HR & Academy Director

Much of what our members and the LMA do is, at least in part, driven by legal or regulatory requirements. As such, we support our member and the wider market in complying with emerging issues and requirements in an efficient and proportionate way and support other LMA teams to integrate those requirements into their areas of work.

We participate on the main underwriting and wording committees to ensure that advice and wordings issued by the LMA are legally fit for purpose and that they are clear and appropriate for the jurisdictions where they are intended to be used. We ensure that external lawyers are used appropriately on LMA projects.

The Team has an important role in acting as a conduit between regulators, Lloyd’s and our members, providing formal market feedback on policy and supervisory developments, and digesting new policy for our members by way of guidance. An example is the LMA guidance on FCA pricing practices. We respond to a wide range of consultations impacting the Lloyd’s market. We also liaise closely with other insurance industry bodies and organisations such as the British Insurance Law Association.

In 2021, we set up a new Governance Forum for members to discuss corporate governance issues. The other established groups we run are the Lawyers’, Conduct Risk and Data Protection Forums, and Compliance Officers Group. We organise regular member liaison meetings through these groups. We provide company secretarial support to the LMA Board.

For 2022, our main projects will be continuing to focus on Lloyd’s Europe and the move to business as usual with the new Operating Model. We will be leveraging our work in 2021 on the FCA fair value requirements to deal with FCA consumer requirements. We will also be working closely with the LMA Academy to develop a new training framework for wordings professionals.

Visit HR & Academy