From January 2025, claims become the fifth Lloyd’s hurdle principle, joining underwriting, reserving, governance, and culture. By 2026, claims performance will directly affect syndicate ratings and business plans. This is a major shift — moving claims from a back-office function to a strategic board-level priority. While rollout challenges remain (data gaps, unclear feedback, outcome-based metrics), the market sees this as a real opportunity to: - Elevate claims as a differentiator - Drive better customer outcomes - Strengthen Lloyd’s global position As one expert said: “Very few choose an insurer for claims – but they’ll leave one because of it.” To read our FULL analysis piece follow link in comments. #InsiderAnalysis #Lloyds
Totally agree, claims should and need to be board priority. Drives results, builds trusts and empowers teams.
Interesting - I know many organizations that choose, or don't choose, Insurers for their Claims proposition. Very smart from Lloyds
Hallelujah 🙄(but good all the same). It’s going to be a big challenge to address long-standing cultures and practices, but do-able.
Aviation Claims Manager
6dProbably about time that the product that is being sold should be considered an important function of the market.