The Lloyds Market Association (LMA) claims committee has approved the establishment of a claims expert management hub for Lloyd’s carriers.
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 also utilise a single technology solution and be developed to integrate with Lloyd’s central market systems. The process to identify a suitable vendor and assess a solution for delivery is underway and the LMA claims committee is now seeking the assistance of the market.
Lee Elliston, head of claims operations at the LMA, said that it was vital that the market continued to improve the effectiveness of its claims processes and that it worked to enhance third party management, particularly given the access experts are able to get to policyholders and the role that they play in the claim resolution process.
“The claims expert management hub is an important initiative in this effort,” said Elliston.
“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.”