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 37 Lockton Business Units relevant to LSM
What is going well?
London Retail – LSM are very easy to deal with in terms of flexibility, response times and appetite. They collaborate globally and manage relationships at the right levels (both broker and client) via their relationship leads.
Manchester Corporate – Supportive market, keen on developing relationships and provide access to key decision makers/underwriters.
Crisis Management – Excellent service levels and underwriting expertise.
Property NA – Strong broker engagement and commercial attitude.
Property ROW – LSM are good at quoting and leading new business.
Global Cyber & Technology – Great feedback from the team. LSM are all round good performers with high interaction with the team, great service offering and easy to get a hold of.
Management Liabilities – Easy to trade with, face-to-face engagement, very flexible and great capacity deployment.
National PI – LSM show strong flexibility and are supportive on difficult placements. Their IFA’s have been described as ‘Best in Class’.
Professions PI – LSM are leaders in Design and Construction PI space for large firms.
Marine Cargo – Great technical expertise with good product knowledge and appetite. Feedback received as them being a ‘market leader’ in Project Cargo.
Specie & Fine Art – Strong international footprint and easy to work with.
Areas for Improvement for LSM?
London Retail – LSM’s lack of global capabilities can hinder their participation on programmes.
Property NA – Service levels, responses times and appetite communication are areas they could improve on.
Property ROW – A common feedback theme was the need to be more flexible around pricing/minimum premiums.
Global Cyber & Technology – LSM should consider increasing their line sizes, and look to areas such as Payment Services, Crypto/FinTech.
Management Liabilities – Local policies and more competitive pricing could be areas for improvement. Speed of response also needs to improve.
National PI – Widen their appetite and provide quicker response times.
Professions PI – Similarly to the above, turnaround times was raised as a prime area for improvement.
Marine Cargo – Regular feedback around the need to improve pricing and be more flexible.
Specie & Fine Art – Look to lead more business and engage with the team more.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
