28 June 2017
LMA announces Claims Expert Management Hub for Lloyd’s carriers
The LMA Claims Committee has approved the establishment of a Claims Expert Management Hub (The Hub) for Lloyd’s carriers. The Hub aims to allow managing agents, across the Lloyd’s market, to better assess the effectiveness of their use of claims experts whilst tracking and controlling spend against budgets.
The new Hub will focus on improved data capture to manage the use of experts, such as lawyers and adjusters, throughout the life of a claim. As well as assessing the effectiveness of handling individual claims, it will support the claims strategy, outcome and experience delivered to the insured or policyholder.
The Hub will utilise a single technology solution and be developed to integrate with Lloyd’s central market systems. The RFP process, to identify a suitable vendor and assess a solution for delivery, is underway and the LMA Claims Committee is now actively seeking the assistance of the market.
Lee Elliston, Head of Claims Operations at the LMA said: “It is vital that the market continues to improve the effectiveness of its claims processes and enhance third party management, particularly given the access experts get to our insureds and policyholders and the role that experts play in the claim resolution process. The Claims Expert Management Hub, led by the LMA, is an important initiative in this effort. I would urge all interested members of the Lloyd’s claims community to engage in the development of the Hub, so together we can deliver further efficiencies to the claims management process, enhance the customer experience and make the best use of data to make quicker and smarter decisions.”
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Notes to Editors
For further information please contact:
James Milne, Head of Communications
Lloyd’s Market Association
T 0207 327 8405
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 £30billion per annum.
For more information visit: www.lmalloyds.com.