I’m surprised a prestigious organization like Lloyd’s wants youngsters with absolutely no experience except what they read in books to become part of the foundation of claims excellence. The stock in trade of any excellent claimsperson is real life and loss experience……not theory and statutes. Good luck to the Brits on this.
At least in regard to its U.S. business, Lloyds have historically relegated claims staff to a relatively passive role, depending heavily upon law firms, who have relied upon the mystery or perceived hostility of the U.S. legal system to have an overly dominant role in handling especially casualty claims. While this may not be the case in other areas, e.g. Marine or other specialties, this has hardly been an encouragement to seek out the “best and the brightest” for a career endeavour in claims when the Underwriting or Broking sides have considerably more prestige. Nor does this address the customer satisfaction aspect of good policyholder and broker relations, though to be fair, this could also be said for many U.S. domestic insurers as well. I wish them well, however, as good intentions count for something.
Perhaps the Brits have a better grasp of historical trends. Who is going to replace the bulk of highly skilled adjusters who now teeter on retirement? There are many college grads who do not understand the interesting career choice in insurance; most people equate insurance with “booooorrring!”
I’m surprised a prestigious organization like Lloyd’s wants youngsters with absolutely no experience except what they read in books to become part of the foundation of claims excellence. The stock in trade of any excellent claimsperson is real life and loss experience……not theory and statutes. Good luck to the Brits on this.
At least in regard to its U.S. business, Lloyds have historically relegated claims staff to a relatively passive role, depending heavily upon law firms, who have relied upon the mystery or perceived hostility of the U.S. legal system to have an overly dominant role in handling especially casualty claims. While this may not be the case in other areas, e.g. Marine or other specialties, this has hardly been an encouragement to seek out the “best and the brightest” for a career endeavour in claims when the Underwriting or Broking sides have considerably more prestige. Nor does this address the customer satisfaction aspect of good policyholder and broker relations, though to be fair, this could also be said for many U.S. domestic insurers as well. I wish them well, however, as good intentions count for something.
Perhaps the Brits have a better grasp of historical trends. Who is going to replace the bulk of highly skilled adjusters who now teeter on retirement? There are many college grads who do not understand the interesting career choice in insurance; most people equate insurance with “booooorrring!”