LMA sets up claims hub

The LMA Claims Committee has approved the establishment of a Claims Expert Management Hub for Lloyd’s carriers.

The Hub aims to allow managing agents, across the Lloyd’s market, to better assess the effectiveness of their use of claims experts whilst tracking and controlling spend against budgets.

The new Hub will focus on improved data capture to manage the use of experts, such as lawyers and adjusters, throughout the life of a claim. As well as assessing the effectiveness of handling individual claims, it will support the claims strategy, outcome and experience delivered to the insured or policyholder.

Lee Elliston, Head of Claims Operations at the LMA said: “It is vital that the market continues to improve the effectiveness of its claims processes and enhance third party management, particularly given the access experts get to our insureds and policyholders and the role that experts play in the claim resolution process.”