London Retail

Out of 37 responses

Peer Group Ranking

Overall Ranking (Out of 24 Markets)

Net Promoter Score

An NPS answers the question, "how likely are you to recommend this product or service to a colleague, peer, or friend?' Respondents answer the question on a scale of 0 – 10, 0 meaning they are not at all likely to recommend the product or service and 10 meaning they are extremely likely to recommend the product or service.

-14

NPS score

Average NPS score (overall)

Lockton ranked the following KPIs as most important to them

1

Flexibility (Terms, Pricing, Wordings)

2

Easy to do Business With (Good Communication, Turnaround times, Access to Decision Makers)

3

Quality of Product Coverage

KPI Scores

Feedback from our Associates

What you do better than your peers

  • AGCS have broad risk engineering services.
  • AGCS are proactive with engagement and they have good global servicing.
  • AGCS have good a global programme/servicing capabilities.
  • AGCS have good global programme capabilities.
  • AGCS have good servicing of local policies including bespoke local policies, rather than good local standard.
  • AGCS Terms are accurate.
  • AGCS have good global account management.
  • AGCS try their best to quote on all risks that they are presented with.
  • AGCS are good at blending US and ROW Casualty coverage.
  • AGCS are responsive to emails.
  • AGCS are strong technically.
  • AGCS have better communication.
  • AGCS are flexible in relation to provision of terms, despite a client being slow and limited in terms of information disclosure.
  • AGCS are a responsive underwriter.
  • AGCS are flexible for EEA clients.
  • AGCS are better at managing complex risks.
  • AGCS lead capacity on captive reinsurance.
  • AGCS are pro-active.
  • AGCS are better at coverage.
  • AGCS are good with cross class solutions.

Elements you could improve on to better trade with our Lockton team

  • The attitude and commercialism between underwriters varies too much.
  • Sometimes, AGCS are slow with regards to turnaround times on underwriting queries.
  • Greater consistency across underwriters regarding commerciality/flexibility.
  • Consistency of approach and service level amongst the different underwriters. It feels like there are differing service levels depending on the underwriter.
  • Responsiveness is an area for improvement.
  • Broader appetite could be enhanced.
  • AGCS should provide better pricing.
  • AGCS need to be better aligned across EL, PL and Motor.
  • AGCS could improve with stronger underwriter relationships.
  • More flexibility on pricing is an area for improvement.
  • AGCS turnaround time of documents can be improved upon.
  • Improve initial underwriter response time to mid-year requests for alterations in cover.
  • Policy issuance is something that AGCS could do better.
  • Clarity on trading interaction and underwriter visibility.
  • AGCS should think and act on a global level, i.e. minimise their P&Ls, better global alignment and internal collaboration.
  • AGCS would benefit from being more competitive on PDBI terms.
  • Flexibility in coverage and pricing is an area for improvement.
  • AGCS should improve on middle market appetite on globals.
  • Articulate appetite more effectively.
  • More visibility in the market would benefit AGCS.

Our team’s thoughts on what makes insurers they trade with ‘Best in Class’

  • Flexibility, proactiveness and desire to want to help/win new business.
  • Responsiveness from the underwriter, even if they can't write the risk, is paramount. Our best insurers are the ones who will do what they can to help on a risk, even if it's a trade they wouldn't normally write.
  • They are commercial, easy to work with, technical, flexible with amending their base wording to ensure policy is bespoke to clients which is crucial in the large risk managed client space.
  • Flexibility in pricing and cover, technical expertise of underwriters, support on challenged placements, broad wordings, visibility of teams and management.
  • Good communication, flexibility, willingness to do business.
  • Good communication, servicing and flexible approach to underwriting, tailoring wordings for the clients.
  • Are competitive, have quick response times, show commerciality and have broad cover.
  • Pragmatic underwriters offering competitive quotations. When offering terms for a challenging risk/renewal, that the entire wider Lockton portfolio is considered. Responsiveness.
  • Response times, ease of trading, commerciality of the underwriters, flexibility with terms and conditions, ability to articulate decision making, pragmatic underwriting approaches.
  • Easy to do business with, responsive and competitive with terms/coverage.
  • Stability and financial strength, innovative with strong suite of products, and ability to write cross-class and monoline lead lines at competitive pricing. Delivered via knowledgeable broker-centric BDM and strong technical underwriters.
  • From the service side this is key, and more often than not makes or breaks the relationship. This is especially the case with more established buyers, where price is not always as influential.
  • Servicing the insurance needs of Lockton clients, competitive terms and coverage.
  • Flexibility in pricing, wording and quick turnaround times.
  • Communication and pricing.
  • Flexibility and service.
  • Responsiveness, flexibility and price.
  • Flexibility and practicality when viewing and rating risks. Good communication.
  • Appetite and attitude - we need global capability for primaries, good levels of capacity, strong product and competitive pricing. We need good 'through-year' service and flexibility.
  • Responsiveness and pricing.
  • Underwriting appetite, client engagement, global proposition, and use of technology.
  • Great service, prompt and efficient turnaround times, flexible pricing and coverage approach.
  • Proactiveness and keenness to meet with clients. Willing to go above and beyond.
  • Show underwriting flexibility to accept risk / consider additional risks that fall within trade.
  • Responsiveness, specialisms of expertise, pricing, engagement and flexibility.
  • They will always work with us to find a solution rather than just saying no.
  • They are organised, efficient, flexible.
  • Responsiveness to broker/client queries, attitude towards client broker requests, commercial approach to new business.
  • Have broad policy wording, good pricing, and are easy to do business with.
  • Flexibility, breadth of cover.
  • Communication and expertise.
  • Good engagement, actively seeking to differentiate and provide competitive premiums and breadth of cover.
  • They are willing to listen and provide solutions.
  • They are easy to work with, have technical underwriters and good policy wordings.
  • Quick and efficient turnaround on queries. Technical knowledge and ability to interact with clients. Willingness to offer capacity.
  • Clear and timely communication.
  • Price, flexibility and responsiveness.
  • Pricing, coverage and access to decision makers.
  • Capacity, Products and fast turnaround times.
  • They deliberately target a certain sector with a bespoke product/offering for example.
  • Responding to enquiries and in good time. Always willing to take a look at risks with a view to help and attempt to be flexible. Appetite to work with Lockton more and pick up new business. Clear and tidy product solutions / wordings.
  • Easy and quick to deal with, flexible and competitive.
  • Good turnaround times, flexible terms.
  • Have quick response times, pragmatic attitude and good relationships with the client.
  • Good structured engagement around key topics, strong multinational platform, breadth of appetite and technical.
  • Availability, flexibility and capability to underwrite.
  • Understanding relationships at multiple levels (not just underwriter to broker to risk manager). Consistency of appetite. Can manoeuvre and engage their own business and not just rely on broker to do so.
  • Breadth of wordings and flexibility.
  • They are flexible, understand client demands (not broker) and offer bespoke coverage.
  • Have a commercial outlook, engage with Client and have good technical expertise.
  • Flexibility in coverage and pricing. Wide Coverage. Have an understanding of clients' business to ensure best coverage.
  • Strong communication, access to underwriting authority and the ability to be flexible for our clients, particularly long standing.
  • Flexibility - being willing to produce bespoke solutions.
  • Access to decision makers and support on capacity shortages.
  • Underwriters who are experienced , knowledgeable and responsive.
BACK TO ALL INSURER RESULTS →