Lloyd’s and the LMA would like to engage the market and invite you to a market presentation on the proposed modernisation of the Delegated claims model on 19 July at 09.30 in Presentation Rooms 1 and 2, Gallery 11.

This presentation follows the output from the Lloyd’s Delegated Claims Thematic Review and the feedback that has been received from Heads of Claims, the Binding Authority Strategic Claims Group and our delegated agents.

In Q3 2017 Lloyd’s issued a report following its review of the effectiveness of the framework within managing agents for procuring and overseeing third parties appointed to handle claims on their behalf. The report identified both some good practices and a number of areas for improvement. Whilst some of these are being addressed by individual managing agents, the report concluded that in other areas market wide initiatives would be the best way of:

• improving the overall management of claims handling within delegated authorities
• enhancing the experience of our delegated agents and policyholders
• improving indemnity accuracy
• making Lloyd’s more accessible and easier to transact with.

A programme of work is being supported by the LMA Claims Committee (LMACC), with business sponsors, Nick Sinfield – Group Head of Claims at Tokio Marine Kiln, and Richard Foulger – Head of Claims at Aegis, driving forward the key objectives and deliverables.

The strategy and principles have been set to enhance the delegated claims model at a market level, incorporating and delivering business change in the short term and technological change to support the business in the medium term.

Further communication will follow the presentation to give the market a clearer expectation of the detail of work to be undertaken, including timelines.
We believe that it’s crucially important that the market drive these changes and improvements to the delegated claims model, to ensure the competitiveness of the Lloyd’s market.