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Lloyd’s to review claims systems

The Lloyd’s Market Association (LMA) is to review claims management processes.

LMA Claims Consultant Gary Bass says it is the first such analysis of the quality of service, which has shifted from a paper-based process to electronic in the past decade.

“These new capabilities for data and analysis are very exciting,” he said. “We’ve been able to improve the whole area of claims in terms of time, data and process, and that has predominantly been a shift of culture and standards.

“Now is the time to take a much closer look at a client-centric claims service.”

The review will use independent expert third-party providers to audit claims files and review available software, to find common standards of report writing.

There will be a pilot project this year, with the full audit next year.