Management Liabilities

Out of 16 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.

69

NPS score

Average NPS score (overall)

Lockton ranked the following KPIs as most important to them

1

Breadth of Appetite

2

Quality of Product Coverage

3

Appetite Communication

KPI Scores

Feedback from our Associates

What you do better than your peers

  • They are able to offer innovative products.
  • Their coverage and technical knowledge is great.
  • They are able to underwrite high profile and complex risks.
  • They can offer a great service and be flexible.
  • Their technical ability is great.
  • They have a strong team across the board.
  • They turnaround quotes very quickly.
  • They provide very fast turnaround time on new business.
  • Their counterparts in the US are easy to work with.
  • They are solutions oriented.
  • Accessibility to the underwriters is easy.
  • They are very technical and are good content providers to the broking community.

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

  • They need to up their product offering for commercial crime.
  • Their local policies need improving.
  • It would be good if they could agree to work on our H Compliance Plus Cyber wording.
  • They need better multinational capabilities.
  • They need to sharpen their pricing.
  • Beazley should consider offering US EPL cover in their insurer wording.
  • It would be good if they could come back to brokers within a couple of days, even with just a holding note saying they are looking at the information.
  • It would be helpful if they could align non-US and US team appetite.
  • Flexibility in some cases would be beneficial.

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

  • Technical expertise, brand reputation, attachment point, coverage and pricing.
  • Product offering.
  • Service, claims handling and local policy issuance.
  • Flexibility, communication and willingness to help.
  • Response times, engagement and flexibility.
  • Responses/flexibility/autonomy when quoting.
  • Great understanding of the Latam Markets/practices. A lot of flexibility and competitive price/conditions wise.
  • High level of engagement, reliability and commercial approach to trading.
  • Technical product knowledge, easy to contact and trade with and have a commercial outlook.
  • The main characteristics of the 'Best in Class' insurers are that they are eager to win and place business no matter the size of the client. They have broad appetites and are engaging with us brokers in communicating their appetite as well as being proactive by asking us if we have any risks they can take a look at even if it may be out of scope. These Insurers would be able to provide technical expertise for us to relay back to the client as well which clients very much appreciate and in some cases clients make changes to their operations to reduce the risk.
  • Communication, turnaround times, coverage on offer, pricing and picking up the phone.
  • Pricing, strong turnaround times and ability to utilise broker forms.
  • Appetite communication, strong knowledge of products and flexibility.
  • Quick responses and flexible when it comes to pricing and appetite. Ability to work with their counterparts in other countries.
  • Easy to deal with, technical skills and pro-activity to meet our clients.
  • Response time, flexibility and territorial understanding.
  • Speed and understanding the Insureds.
  • Quick turnaround, good technical knowledge, commercial decision making and a willingness to help on trickier risks.
  • Communication.
  • Strength of relationship.
  • Knowledge and experience, a good Claims team and quick to respond (with good or bad news).
  • Knowledge and understanding of risk. If in appetite, quickly and clearly indicate this so we can communicate this to our producers/client.
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