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Claims transformation one of the focuses of LM TOM

February 22, 2018 – The London Market Group has announced that claims transformation will become one of the focuses for the Target Operating Model (TOM) in 2018.

Shirine Khoury Haq, COO of Lloyd’s and sponsor of the TOM said “Nowhere is there a clearer demonstration of the purpose and value of insurance than in the payment of claims. The London market is committed to providing the best possible claims service and there is a real desire to improve the end-customer’s claims experience, a factor that ultimately drives customer satisfaction. We will be looking at a set of generally agreed claims requirements, partially documented in the original TOM Blueprint which have been discussed and socialised in the London Market over the last two or three years.”

Tony Rai, Head of London Market Claims at Hiscox commented “We must increase the speed of claims settlement so as to make London an easier place to do business. This includes adding automation to Single Claims Agreement Party, updates to claims settlement process and improving two-way customer communication - including  considering more use of portals.”

Charles Bush, Head of Property and Energy Claims at Zurich UK, added "We need to ensure the longer term sustainability of our market place. The best way to do this is to deliver greatly improved customer outcomes by using modern and emerging technologies such as robotics and AI. The objective has to be that London delivers a world-leading and superior claims service, underpinned by a modern and flexible claims agreement platform.”

ENDS

For more information please contact:
Caroline Wagstaff, Luther Pendragon  |  Tel: 020 7618 9158