London Retail

Out of 47 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.

-6

NPS score

Average NPS score (overall)

Lockton ranked the following KPIs as most important to them

1

Flexibility (Terms, Pricing, Wordings)

2

Easy to do Business With (Good Communication, Turnaround times, Access to Decision Makers)

3

Quality of Product Coverage

KPI Scores

Feedback from our Associates

What you do better than your peers

  • They have a broad policy wording.
  • Fast response times.
  • Engagement from team leaders across all accounts - very flexible/commercial.
  • Flexibility on appetite. QBE have the ability to add value as either a lead or follow.
  • Their cross-class appetite.
  • They provide a technical product offering outside standard risks.
  • QBE are very engaged in sharing their proposition.
  • Certain polices such as motor.
  • Motor/EL/PL on UK risks.
  • Breadth of appetite in conjunction to global capabilities.
  • Their relationship management team.
  • Very helpful in finding a solution for a risk we remarketed that competitors would not put lead terms on. We were also impressed by their Minds in Business presentation which seems to be a very unique offering.
  • QBE are responsive and flexible.
  • They communicate well.
  • Our relationships with them are strong.
  • Good understanding of UK EL risk and complex risks.
  • Their policy wording is strong.
  • Capability to write Rolling Stock.
  • QBE have a competitive proposition on Motor.
  • Communication from specific individuals is excellent.
  • Their transportation appetite.
  • Great contact and collaboration.
  • Rolling LTA's.
  • Their approach to cross-class business.

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

  • Widen risk appetite.
  • More support on heavy US exposure clients which supports our book.
  • Better flexibility.
  • Clearer communication of appetite and more flexible underwriting.
  • US element on lead global programmes can sometimes cause delays (if US premium being quoted locally).
  • Response times could be quicker, particularly if declining a risk.
  • Competitiveness of terms.
  • Better broker engagement.
  • Lack of engagement on smaller lines can hinder them where we have cross-sell opportunities.
  • Better broker engagement.
  • Improved Global capabilities.
  • Improve global servicing.
  • More consistency around ESG.
  • Quicker responses to communications.
  • Engage with us more - they are starting to do this.
  • Quicker response times.
  • Better Multinational query turnaround times and tracking.
  • Better engagement on other Property & Casualty risks.
  • Be consistent with service across all classes of business.
  • Multinational service delivery.
  • Continue great work BDM has started.
  • More competitive PDBI terms.
  • Fronting capacity.

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

  • Flexibility, proactiveness and desire to want to help/win new business.
  • Responsiveness from the underwriter, even if they can't write the risk, is paramount. Our best insurers are the ones who will do what they can to help on a risk, even if it's a trade they wouldn't normally write.
  • They are commercial, easy to work with, technical, flexible with amending their base wording to ensure policy is bespoke to clients which is crucial in the large risk managed client space.
  • Flexibility in pricing and cover, technical expertise of underwriters, support on challenged placements, broad wordings, visibility of teams and management.
  • Good communication, flexibility, willingness to do business.
  • Good communication, servicing and flexible approach to underwriting, tailoring wordings for the clients.
  • Are competitive, have quick response times, show commerciality and have broad cover.
  • Pragmatic underwriters offering competitive quotations. When offering terms for a challenging risk/renewal, that the entire wider Lockton portfolio is considered. Responsiveness.
  • Response times, ease of trading, commerciality of the underwriters, flexibility with terms and conditions, ability to articulate decision making, pragmatic underwriting approaches.
  • Easy to do business with, responsive and competitive with terms/coverage.
  • Stability and financial strength, innovative with strong suite of products, and ability to write cross-class and monoline lead lines at competitive pricing. Delivered via knowledgeable broker-centric BDM and strong technical underwriters.
  • From the service side this is key, and more often than not makes or breaks the relationship. This is especially the case with more established buyers, where price is not always as influential.
  • Servicing the insurance needs of Lockton clients, competitive terms and coverage.
  • Flexibility in pricing, wording and quick turnaround times.
  • Communication and pricing.
  • Flexibility and service.
  • Responsiveness, flexibility and price.
  • Flexibility and practicality when viewing and rating risks. Good communication.
  • Appetite and attitude - we need global capability for primaries, good levels of capacity, strong product and competitive pricing. We need good 'through-year' service and flexibility.
  • Responsiveness and pricing.
  • Underwriting appetite, client engagement, global proposition, and use of technology.
  • Great service, prompt and efficient turnaround times, flexible pricing and coverage approach.
  • Proactiveness and keenness to meet with clients. Willing to go above and beyond.
  • Show underwriting flexibility to accept risk / consider additional risks that fall within trade.
  • Responsiveness, specialisms of expertise, pricing, engagement and flexibility.
  • They will always work with us to find a solution rather than just saying no.
  • They are organised, efficient, flexible.
  • Responsiveness to broker/client queries, attitude towards client broker requests, commercial approach to new business.
  • Have broad policy wording, good pricing, and are easy to do business with.
  • Flexibility, breadth of cover.
  • Communication and expertise.
  • Good engagement, actively seeking to differentiate and provide competitive premiums and breadth of cover.
  • They are willing to listen and provide solutions.
  • They are easy to work with, have technical underwriters and good policy wordings.
  • Quick and efficient turnaround on queries. Technical knowledge and ability to interact with clients. Willingness to offer capacity.
  • Clear and timely communication.
  • Price, flexibility and responsiveness.
  • Pricing, coverage and access to decision makers.
  • Capacity, Products and fast turnaround times.
  • They deliberately target a certain sector with a bespoke product/offering for example.
  • Responding to enquiries and in good time. Always willing to take a look at risks with a view to help and attempt to be flexible. Appetite to work with Lockton more and pick up new business. Clear and tidy product solutions / wordings.
  • Easy and quick to deal with, flexible and competitive.
  • Good turnaround times, flexible terms.
  • Have quick response times, pragmatic attitude and good relationships with the client.
  • Good structured engagement around key topics, strong multinational platform, breadth of appetite and technical.
  • Availability, flexibility and capability to underwrite.
  • Understanding relationships at multiple levels (not just underwriter to broker to risk manager). Consistency of appetite. Can manoeuvre and engage their own business and not just rely on broker to do so.
  • Breadth of wordings and flexibility.
  • They are flexible, understand client demands (not broker) and offer bespoke coverage.
  • Have a commercial outlook, engage with Client and have good technical expertise.
  • Flexibility in coverage and pricing. Wide Coverage. Have an understanding of clients' business to ensure best coverage.
  • Strong communication, access to underwriting authority and the ability to be flexible for our clients, particularly long standing.
  • Flexibility - being willing to produce bespoke solutions.
  • Access to decision makers and support on capacity shortages.
  • Underwriters who are experienced , knowledgeable and responsive.
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