Practical Issues in Claims Management - Insurance Market ...

Claims Transformation Project• Development of a new vision for claims handling• Aim to enhance Lloyd’s reputation for fair and fast claimhandling• Improve customer experience through provision of efficient andeffective claim process• CTP introduces– Enhanced segmentation of claims– Claims identified as standard (£0-100,000)mid tranche (£0 - £5m)complex (> £5m)– Single party claims agreement for the majority of high volumelow value claims– Lead plus second claims agreement party in high value orcomplex claims– Choice for managing agents to either in source or outsourcetheir role as a claims agreement party