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 15 of the 33 Lockton Business Units relevant to Markel
What is going well?
Downstream Energy – They have good proactive engagement at all levels of underwriting and leadership.
Energy Liability – Good breadth of appetite, strong relationship-builders and responsive.
Upstream Energy – Very positive feedback received across the piece. Markel have a broad and flexible appetite, aggressive pricing and are supportive.
Casualty NA – Markel are pro-active and are good at seeking out new business.
Casualty ROW – They work well as a global team and have good appetite for new business.
Crisis Management – Markel can write challenging business and their pricing is good.
Financial Institutions – Markel are a market leader in the FinTech practice.
Global Cyber & Technology – Communication and response times are strong, and they provide cross-class placements with other teams.
National PI – They are supportive and flexible.
Professions PI – Service and speed of quoting is great.
Marine Cargo – Very technical approach and underwrite each risk on its own merits. Good relationship on the War book. Extent of their cover is ‘commendable’.
Marine Hull – Good breadth of appetite and availability at Lloyd’s, as well as quick response times. They are flexible and have an understanding of the clients' needs.
Areas for Improvement for Markel?
Downstream Energy – Markel could increase their appetite for Natural Catastrophe.
Energy Liability – Look to price more competitively and increase availability at the box.
Power & Renewables – Look to increase line size and be more open to Catastrophe business.
Casualty ROW – Suggestion for Markel to be more available, although new underwriters have now joined which should assist with this.
Financial Institutions – Improve responsiveness was regular feedback.
Global Cyber & Technology – Markel could look to be more flexible to align with peer markets on pricing and broaden US primary appetite.
National PI – Look to be more competitive with their pricing.
Professions PI – A common theme raised around the need to improve flexibility, especially pricing.
Marine Cargo – Expand appetite to territories such as Latam.
Marine Hull – Look at more aggressive pricing and develop relationship with more of the Lockton team.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
