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Opening new doors…

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Keith Stern

Tuesday 26 June 2012 – In October, Lloyd’s is supporting the Keychoice Broker conference ‘Opening New Doors’ – a title reflective of what we’ve been trying to do in the UK market for the past two years.

Supporting insurance conventions is a crucial part of this. They allow Lloyd’s underwriters and brokers to meet with existing intermediaries and clients. They also provide the opportunity for representatives to network with regional brokers, MGAs and other intermediaries – demonstrating Lloyd’s is serious about writing SME business in the UK.

In May at the BIBA Conference in Manchester, around 50 delegates attended our fringe session on e-trading, led by Adam Stafford. At the AIRMIC Conference in Liverpool this month, fellow blogger Neil Smith and I presented to around 45 delegates on the subject of emerging risks – and reputational risk in particular.

At both conferences we also hosted a ‘Lloyd’s stand’ and were joined by underwriters from Arch, Barbican, Canopius, Jubilee, Kiln, Mitsui, Navigators, Novae, Randall & Quilter, Sagicor and Sportscover. At AIRMIC, Lloyd’s brokers from Bartlett, Integro and Tyser also joined us.

Thanks to the many new introductions made at these impressive looking stands, we are inviting regional brokers to Lloyd’s Regional Broker Programme on 19 September 2012. Risk managers will also be invited to events at Lloyd’s in the coming months.

So what was Lloyd’s message to delegates at these important industry conferences? It focused on the financial strength of the Lloyd’s brand as reflected in our ratings, the reserves and our excellent claims-paying track record. Speaking of claims, Lloyd’s Claims Team reaches a key milestone on 1 July, when all risk codes will be in scope of the Claims Transformation Programme (CTP).

Why is this important? Well for one thing it means claims will be processed even more quickly. To date there’s been a 39 per cent decrease in the time it takes to respond to a claim transaction. With CTP, a single party can now agree a standard claim on behalf of the entire market, which is helping to streamline the processing of claims and helps increase the number of standard claims processed.

Next year, the BIBA Conference heads to ExCel in London from 15-16 May and AIRMIC hits the South Coast on 10-12 June at the Brighton Centre. Through Lloyd’s sponsorship of both conferences we have a limited number of free registrations which are snapped up fairly quickly so let me know asap if you’re interested in supporting the Lloyd’s stands at either or both of these events…

If you missed out on BIBA you can get a flavour of the conference here – thanks to Post Online for providing it!

(source: Lloyds of London)

 

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