London Retail

Out of 31 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.

-32

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

They are commercial.
They have fast response times.
They have a healthy approach to underwriting and client engagement.
They strive to have flexibility regarding pricing, wording, appetite etc.
Their responsiveness to existing client issues, renewals and new business proposals is all great.
They have Multinational programmes.
Their trading ability is great.
Some of their risk and bursary options are quite well received.
They provide a quick response time for quoting new business opportunity with flexibility shown.

Pricing is currently good.
They have a clear appetite and strategy.
They have wide Liability wordings.
They provide strong coverage and flexible underwriting.
They are very pragmatic with cover options.
Their claims process is good.
They are aggressive and growth orientated.

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

Better flexibility would be an improvement.
Servicing can be slow so improvements in that area would be appreciated.
Quicker response times on PPL.
They should broaden their appetite. Certain trades outside of appetite means that difficulties arise when attempting to get them on schedules.
Wider scope of mid-products would be beneficial.
It would be good to see better flexibility on package deals, including multi-line deals.
Consistency over time is an area for development.
Quicker responses to new business enquiries would be helpful.
It would be good to see AXA XL come to meetings better prepared and be more pro-active with engagement.

They have pulled out of key sectors and US exposed risks.
It would be better to receive more communication on appetite.
Service levels are very poor.
It would be good to see them resolve reverse flow queries quicker.
Their turnaround times need improving.
Their global alignment could be better - especially collaboration with the US.
They need to be more competitive on PDBI terms.
Their D&O is lacking, particularly on primary.

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 →