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 5 of the 29 Lockton Business Units relevant to Travelers
What is going well?
Power & Renewables – Travelers demonstrate great technical expertise, and their support of the Lockton book is great. Broad international appetite and prepared to quote/provide lead terms.
Belfast – Good breadth of appetite and cover, and Travelers excel in specialist areas.
Financial Institutions – They support longstanding clients well, offer excellent service and competitive pricing.
Global Cyber & Technology – Strong appetite for legal firms, and facility solutions are strong.
Management Liabilities – Crime is an area of excellence. Great SME offering and package policies. Travelers demonstrate a willingness to partner with Lockton.
National PI Solicitors E&W – Service and coverage fed back as ‘best in the market’. Travelers have a very strong PI product and offer flexible solutions which gives them an edge in the market.
Professions PI Solicitors & Accountants – Great technical expertise and claims handling which set them apart.
Marine Hull – They turnaround quotes the quickest in the sector, offer a wide range of products and have strong capacity for War.
Areas for Improvement for Travelers?
Power & Renewables – Feedback received around the need to provide larger capacity/line size, broaden appetite outside of the US and expand CAT appetite.
Belfast – The need to broaden out their appetite was a common theme.
Financial Institutions – Look to have greater flexibility on wordings and provide faster turnaround times.
Global Cyber & Technology – Improve speed of communication and response times.
Management Liabilities – Increase appetite for certain territories (Australia) and improve response times.
National PI Solicitors E&W – Travelers should look to write smaller risks and use phones more.
Professions PI Solicitors & Accountants – Travelers should consider more competitive pricing.
Marine Hull – Look to be more available at the box and improve communication and speed of service.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
