Delegated Claims Oversight Strategy
In collaboration with the LMA Claims Committee (LMACC) and Lloyd’s claims team, the LMA has put together a delegated claims model, encompassing a long term delegated claims strategy addressing both business process and underlying systems to support that change. A program of work has been designed to help to address both of these and in response to the delegated claims thematic review, which was conducted by Lloyd’s in 2017.
The main aims of the program are to provide an improved and more consistent DA experience for TPAs, improved service for customers and increased indemnity accuracy. This will be achieved by providing the market with guidance, tools, model wordings and frameworks to assist in moving towards a common market approach in managing delegated claims.
The attachment below includes the high level strategy and detail regarding the proposed output from the programme.
We have also worked with the market and the Binding Authority Strategic Claims Group (BASCG) to produce best practice guidance for managing loss funds, to assist the market in enhancing how we manage funds whilst generating and supporting a more consistent approach throughout the market.
If you’d like to see when work on individual deliverables are being worked on throughout the programme, you can track our progress on these here.
Should you have any queries about the program or would like to get involved, please contact either Tom Hamill: email@example.com or Tim Bowling: firstname.lastname@example.org.
Manager, Claims & Delegated Authority Operations