Lloyds of London Archives - Ether Introductions

You only know what you know. No matter how mature your claims supply chain function might be, you can never been 100% sure that you are getting the best deal. We have multiple data sets that form part of our benchmarking analysis service. Contact us or book a meeting for more details.

Examples of our data sets

PROPERTY REPAIRS

Builders and surveyors

We have full data sets covering the fees incurred, the claims outcome (fulfilled, cashed, zero settlement) and the final indemnity spend for surveyors.

For building repairs we have regional indemnity averages, national indemnity averages and claims management fees comparisons.

Loss Adjusters

Domestic and Commercial

At our disposal is a full set of fee data covering various claims types at every value banding.

Of course fees are only one aspect of a loss adjusters output and we have adherence to fee scale data as well as the all important average indemnity controls.

Third Party Administrators

UK and USA

Covering UK, USA and some other territories, we have an extensive data set on TPA’s.

Fees, conversions to Loss Adjusters, indemnity controls and claims outcomes are all covered. We also have data on low value claims as well as more complex and specialist claims.

LEGAL RATES

Global

Over the years we have built up a comprehensive set of legal rates covering most territories around the globe.

These are split by individual hourly rates according to seniority, by type of matter, and by the location the services would be provided.

Overall claims performance

Loss ratios to target operating models

Multiple data points covering the key metrics which provide valuable insights into how an insurance book of business is performing.

Our insights cover loss ratios, elapsed days from FNOL to closure, reopening rates, claims outcomes, average and total indemnity spend.

Irrespective of which class of insurance business you might be managing, there are consistent themes relevant to all that are helpful to bear in mind. With years of experience and a track record of delivery, we know what these are.

◉ Never just look at the fees. Your claims indemnity is always more important.
◉ Supplier behaviour is usually more important than the commercials put in place.
◉ Create an environment where good performance is commercially rewarded.

It also really helps if you are able to understand the procurement / supply chain process AND the insurance claims process. This is where we excel.

PROPERTY CLAIMS

Hands on claims experience

We have managed claims, claims teams, repair networks, built contents supply chains, created TPA functions, and run loss adjuster panels. This has been done this as a supplier to the industry and on behalf of global insurers. We undertook a full review of the primary UK Third Party Administrator (TPA) followed by an in depth file review audit.

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MOTOR CLAIMS

Extensive industry experience

We have re-engineered repair network processes, implemented IT projects and claims functions, reimagined salvage provision, and negotiated multiple ancillary product line deals o behalf of multiple insurers. We found multiple legal firms being deployed across multiple classes of business with inevitable scope creep.

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TRAVEL

Largest UK bank

We have run a full blown multi year, multi product travel insurance tender. Starting from mapping out all requirements to the final implementation of a new provider. Here we worked with a very talented Cyber team who had in-depth knowledge a crystal clear vision of what the output needed to look like.

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LONDON MARKET

Top 5 syndicate

We have run tenders and managed all manner of suppliers across all classes of business within a leading Lloyds of London syndicate. We ran a formal process to find an outsourced claims solution to take low value and run off claims following an acquisition.

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Consultancy experience gained from working for one of the leading Lloyd’s syndicates across multiple classes of business.

PROPERTY TPA’S

Procurement and management

We undertook a full review of the primary UK Third Party Administrator (TPA) followed by an in depth file review audit.

As a result, self serving behaviours from the supplier were identified which were leading to indemnity leakage. New commercial arrangements agreed to reflect a more optimum claims process which lead to substantial savings.

Similarly a data audit of the North American TPA’s showed that sub optimum claims processes were being implemented with an over reliance on use of Loss Adjusters. Revised processes and commercials were negotiated which again led to significant claims cost savings.

LEGAL MATTER MANAGEMENT

Design, consolidation and implementation

We found multiple legal firms being deployed across multiple classes of business with inevitable scope creep.

Once we had established the true spend by firm, we set about rationalising the panel based on performance metrics. Once this was achieved, we designed and implemented a set of billing protocols which each firm had to sign up to.

Finally we engaged with a legal matter management software provider who were able to actively apply the billing protocols and rates agreed on a matter by matter basis.

CYBER INCIDENT RESPONSE

Procurement and negotiation

Here we worked with a very talented Cyber team who had in-depth knowledge a crystal clear vision of what the output needed to look like.

Whilst we often lead claims procurement projects due to our extensive knowledge, there are occasions where we immediately recognise we need to adopt a background supporting role. This was one of those occassions.

We provided procurement and negotiation support on a full blown RFI/RFP covering Incident Management, legal services, IT Forensics, Public Relations and other related IT providers.

LOW VALUE AND RUN OFF CLAIMS

Procurement and implementation

We ran a formal process to find an outsourced claims solution to take low value and run off claims following an acquisition.

Each provider had very different pricing models that could not be changed and therefore we created a complex data analysis tool to be able to accurately compare costs and benchmark against internal operational costs.

SUPPLIER PERFORMANCE MANAGEMENT

Process design and application

We provided the performance management blueprint for claims supplier management so that different classes of business were able to proactively manage claims suppliers.

By applying this model as well and commercial improvement methods, savings were soon realised on claims spend.

Insurance claims specialists based in London

I started life as a graduate trainee loss adjuster dealing with domestic and commercial claims in east London. Having progressed to managing teams and then running building repair networks I then joined a global insurer where I then ran the claims supply chain. What this means is that I understand claims and the eco system of a claims supply chain across multiple classes of business.

Founded by Ian Guest

Procurement and supply chain consultant for two of the largest UK insurers
NED for a leading UK motor repair network
Business development with a commercial and marine cargo salvage provider
Adviser to a direct to insurer building repairer
Project manager for a joint venture in property TPA space
Consultant to the largest UK bank for travel insurance proposition and technology renewals
Procurement consultant looking at all claims spend for one of the largest London syndicates
Head of research and innovation for a building repair network
Chief Operating Officer for specialised building firm
Claims supply manager for a global insurer

Category Lloyds of London