Management Liabilities

Out of 13 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.

23

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

  • Crime is an area of excellence for them.
  • They provide competitive pricing on volume business.
  • Travelers demonstrate a willingness to partner with Lockton.
  • In terms of the size of clients, they are eager to win accounts if it falls within their appetite. They provide very quick response/turnaround times and are keen to engage with us on any new business.
  • They offer competitive pricing.
  • Fast turn around times and great pricing.
  • They put effort into building relationships.
  • Their package policies are a strength.
  • Travelers have a great SME offering.

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

  • Increase appetite for certain territories i.e. Australia.
  • Improve claims handling.
  • Offer better multinational capabilities.
  • Demonstrate more flexibility.
  • Decrease response times.
  • Not restrict their appetite too much.
  • Provide claims examples for sharing with clients.
  • Increase proactivity towards engagement.
  • Improved response times, but appreciate the team is stretched.

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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