London Retail

Out of 50 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.

-30

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

Competitive Excess of Loss, which supports on challenged programmes.
AIG have good face-to-face contact.
AIG have a good global network.
AIG's client centric focus (service and flexibility) is a positive.
Multinational servicing capabilities is a strength area.
AIG's Risk Engineering services is a valuable service to clients beyond the norm.
AIG's financial strength is a bonus.
AIG's response time to coverage requests including flexibility.
Ability to quote cross-class deals to include motor and financial lines is a strength area.
AIG can write complex programmes.
AIG's size of global network is beneficial.
They have great consistency in US Casualty.
They have comprehensive PA wording.
Their new Broker Development Manager seems keen to engage.

Their provision of global motor third party liability is good.
Their multi-line offerings is a positive.
AIG have good PA underwriters.
AIG offer good options for large multinationals.
There is clear identification of key clients to the broker and adequate resourcing accordingly.
They recently had some good pricing on liability placements.
They have good Broker Development Manager communication.
Multiline and ART are both key strength areas for AIG.
They are both flexible and available when required.
AIG provide competitive terms.
The flexibility on pricing and coverage is a positive.
AIG's global reach is beneficial.
They are very hungry for new business.
AIG have good underwriter communication.

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

It would be good if underwriters were allowed to make wording change decisions, rather everything having to be referred to their wording expert.
Allowing underwriters to make wording decisions, rather than needing sign off from the technical expert (which often causes tension and delays), would be much more efficient.
Faster response times is an area to improve.
AIG's servicing levels need developing - underwriters are slow to respond and global servicing is poor in general.
AIG need quicker response times. They are sometimes slow to decline.
AIG have lengthy response times, even when declining a risk. Broking a risk can become laborious due to the amount of questions compared with their peers (and then it still may be a decline anyway).
Turnaround times on communications/issuance of documentation should be improved.
Broker product engagement needs improving.
A couple of clients seem to have long-term issues with AIG based on historical claims decisions which has impacted certain relationships.
Sometimes, emails that are sent to generic inboxes concerning on-line bound policies get lost in the ether. It would be good to have a specific underwriter contact.
It would be good if AIG are more pro-active with the relationship.
More engagement from underwriters is key.

Better leverage of their multinational capabilities needs improving.
Returning calls is a key area to develop on.
They should communicate better on appetite and team structure.
They are inflexible on wording changes and more difficult to negotiate with.
They should have better local policy tax knowledge.
Their pricing needs improving.
Their general admin needs tweaking.
AIG need better transparency on how collateral, aggregate captive retentions and fronting fees are calculated.
Consistency of appetite is key.
They need more flexibility with DPA cover.
They should improve their flexibility and turnaround time on some queries.
They need higher line sizes on property/energy placements.
AIG need to be more flexible on information requirements.
Quicker response times is an area to improve.
They need to have structured engagement and a multinational service.
AIG should underwrite US liability exposures.
Unified agreement on ISB on all lines should be developed.
They could be more aggressive.

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.

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