Management Liabilities

Out of 10 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.

60

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

  • Their service levels and local policies are commendable.
  • They are good at linking with other parts of Chubb to provide package deals.
  • They always build long-standing client relationships.
  • They have a large team and are all up-to-date on risks that may not be their own, which helps if there are any last minute issues. They are also outgoing and try to engage with brokers as much as they can which helps build the relationship and trust with them.
  • They are capable of building very strong and stable relationships with the clients.
  • They are a long-standing partner for clients.
  • They go the extra mile for us due to the strong Lockton relationship.
  • They are very easy to engage with.

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

  • Their claims handling needs improving.
  • Their flexibility around pricing needs improving.
  • It would be good to see greater resource in the team to improve turnaround times.
  • Their turnaround times are slow, even more so when approaching a busier period.
  • They are not very flexible on terms unless pushed with a competing offer, which arguably creates a higher threshold for them to meet.
  • It would be good to provide clients with more claim’s examples.
  • Their speed of response is slow.
  • On challenging risks, they can sometimes be less flexible than others.

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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