Claims transformation in the London Market – an update
At the end of 2018 the LM TOM held interactive market engagement meetings to update the claims community on the vision and plans for London Market claims following scoping workshops and prototype builds around the future vision of claims.
The feedback from the claims leaders and practitioners who attended the engagement sessions was supportive of both the vision and the need to transform claims.
However, while the insight from the claims community was helpful, cross-market consensus is essential to ensure the appropriate scope and delivery of claims’ transformation to enhance service to our customers. A strategic partner will now be engaged to clarify the priorities for the request for proposal (RFP) process for claims transformation. This partner will help to address the challenges of obtaining consensus from the market on the right claims solution for our customers, and work through and refine the scope of the solution.
A more detailed update on the next steps of the London Market’s claims transition will be provided later this year.