04 Executive Summary
Key Insights from your 2024 Survey include:
Peer Group Ranking
Overall Ranking (from 29 Markets)
Overall NPS Score (vs Average of -5)
A top 5 position overall in 7 of the 22 Lockton Business Units relevant to Brit
What is going well?
Energy Liability – Brit have a good breadth of appetite. Exposure for their underwriters is good and they are flexible.
Upstream Energy – Exposure for their underwriters is good and they are flexible. Their relationship building and capacity deployment is good.
Crisis Management – They are able to offer competitive terms in challenging territories.
NA Property – They have a broad appetite and competitive pricing. They are a good team to work with; they are all approachable and commercial in mindset.
ROW Property – Brit are a great underwriting team. They deploy large line sizes, are good at communication and relationship building with the team. They are able to quote several options, happy to lead placements, and they help win new business.
FI – Their Fintech appetite is strong.
Cyber – Brit are able to communicate openly, they are transparent, and they are willing to support schemes.
ML – Brit provide detailed underwriting with fast turnaround times.
PI – They are innovative and ahead of the curve.
Marine Cargo – They provide excellent engagement from the top.
Areas for Improvement for Brit?
Energy Liability – Brit need to have an experienced underwriter at the Box and available for client meetings. Their service levels need improving.
Upstream Energy – Their availability needs improving and they need to broaden their appetite (having recently pulled away from Onshore service contractors).
Crisis Management – They need to be more consistent on pricing.
NA Property – Reliability of long-term capacity is something Brit should look into.
ROW Property – Their response times need improving.
FI – Their primary capacity needs improving.
Cyber – They need to be more flexible in pricing and time of transaction could be improved.
PI – Less complicated requirements is an area Brit could improve on.
Private Clients – Recently, their communication has been poor and we are regularly unable to reach Underwriters.
Marine Cargo – They could provide an improved longer-term pipeline focus.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
