Financial Institutions

Out of 5 responses

Peer Group Ranking

Overall Ranking (Out of 19 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.

-60

NPS score

Average NPS score (overall)

Lockton ranked the following KPIs as most important to them

1

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

2

Relationship Strength (With UW's / Decision Makers)

3

Flexibility (Terms, Pricing, Wordings)

KPI Scores

Feedback from our Associates

What you do better than your peers

  • Their service and claims experience is very positive.
  • Their technical expertise is excellent.
  • They have good wordings and products which they can be very competitive on.
  • Their limit is good.
  • ESG is a strong area for Beazley.

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

  • They need more appetite for primary on our wording.
  • Flexibility on wording (specifically crime coverage) would be beneficial. This hinders doing business with them on a larger pool of risks.
  • Less flexibility when it comes to writing on non-Beazley wordings can lead to difficulties in winning new accounts.
  • Their wording needs developing.
  • Their claims service needs improving.

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

  • They are pragmatic, have fast response times and are flexible on all terms.
  • Interaction and engagement with the team, ensuring that there is a 'point person(s)' attached to the relationship. Identifying risks that they believe are core appetite to them and working with Lockton in good time to offer the most compelling pricing. Ability to agree to new product innovation. Willingness to engage with clients on a regular and consistent basis makes the client less prone to tender business or want to move away from the existing insurer. Commercial/portfolio approach to writing business that may not be core appetite.
  • Flexibility and willing to 'go the extra mile'.
  • Price, coverage and service.
  • Prompt response time, competitive pricing and good claims service.
  • Good service, clear communication, commercial.
  • Market security, claims handling and pricing.
  • Quick turnaround times, open minded approach to underwriting and ability to be flexible.
  • Relationship, Adequate Communication & technical expertise.
  • appetite and responsiveness.
  • Good communication, commerciality and consistency of appetite across underwriting teams.
  • Price, service and claims.
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