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LIIBA Claims Webinar Invite – Thursday 10th December, 9am to 10am

Further to our holding communication last week, please see below for the details of how to join…

Further to our holding communication last week, please see below for the details of how to join the session next week. Registration for this event is not required and therefore we are happy for the information to be shared amongst your claims colleagues to attend. As registration is not required, a calendar invite will not be sent out and we therefore recommend people set up an appointment in their calendars now that contains the dial in detail noted below.

 

LIIBA Claims Webinar Dial In Details:

Join the webinar: 9am to 10am, Thursday 10th December

https://lloyds.webex.com/lloyds/onstage/g.php?MTID=e9275a3c904b8e7fd9754eee2a40c0aca

Call-in toll-free number (UK) 0800-051-3810 Call-in toll number (UK) +44-203-478-5289

 

We recommend people dial in 5 minutes prior to the start of the meeting to ensure they can access in good time for the start of the meeting.

 

LIIBA Claims Webinar:

In this first event of its kind, LIIBA invites its membership to attend a one-stop-shop session that will highlight areas of interest for the claims community. In this session you will hear about:

 

  1. Future at Lloyd’s claim workstreams*
  2. Catastrophe reporting – new system being implemented this month (Acumen)
  3. SCAP Re-launch and embedding the Co-Lead Claims Agreement clause
  4. Market move away from paper claim files
  5. Delegated claim standards progress
  6. Training for market participants
  7. End of year processing considerations

 

We will also be covering the work being undertaken by LIIBA’s Claims Operations Liaison Group (COLG) and DA Claims Committee (DACC) on behalf of brokers, what priorities will be for 2021 and how LIIBA will communicate details throughout next year.

 

There is a lot to cover within the hour but brokers are encouraged to attend, as there will be the opportunity to pose questions directly to presenters and panellists, including:

  1. Chair’s of LIIBA’s claims committees: John Muir (WTW and Chair of COLG) Ben Kelly (Ed. Broking and Chair of DACC) Iain Lebbell (THB and Dep. Chair of DACC)
  2. Future at Lloyd’s Claims Lab:  Scott Kellers (Liberty Specialty and Broker Liaison for F@L Broker Advisory Group) Zoe Woods (Lloyd’s, F@L Business Lead) Paul Brady (Lloyd’s, F@L Business Sponsor) Martin Canavan (Lloyd’s, Acumen)
  3. Market Associations: Lee Elliston (LMA) Tim Bowling (LMA) Paul Calvert (IUA) Jackie Hobbs (LIIBA)

 

*As the LIIBA session will only cover the Future at Lloyd’s workstreams at a high level, we have been asked by Lloyd’s to communicate further sessions they are running that are more detailed in nature. Registration for these events is required and details are available here: https://lma.informz.ca/informzdataservice/onlineversion/ind/bWFpbGluZ2luc3RhbmNlaWQ9MTIzOTk4OSZzdWJzY3JpYmVyaWQ9OTEzNTYzNjg5

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Improve claims service and reduce costs with SCAP

LIIBA’s Claims Operations Liaison Group (COLG) has, along with the markets’ other trade associations, conducted a review…

LIIBA’s Claims Operations Liaison Group (COLG) has, along with the markets’ other trade associations, conducted a review on the usage of the single claim agreement party (SCAP) process. The conclusion of the review is that, where utilised, SCAP can reduce claim agreement times substantially. However, since its launch in 2018, uptake has been mixed with only two broking firms utilising regularly.

Having undertaken the review, a number of areas were identified for improvement with the primary one being that the clause itself (LMA9150) was missing from MRC documentation presented to underwriter, meaning that even if a claim was suitable, it couldn’t follow the procedures to process under SCAP.

To address this particular area and ensure everyone is able to understand the benefits of SCAP, the LMA will be running a specific session for the market on Wednesday 2nd December. Whilst mainly aimed at placing brokers and underwriters, those working in claims are welcome to attend to provide a refresher training.

Details of how to book on the session is detailed below. The full file path to the invite is detailed here: https://www.lmalloyds.com/LMA/Events/LMA___market_events/SCAP_for_Underwriters_and_Placing_Brokers_02Dec2020+E20102.aspx

 

Improve claims service and reduce costs with SCAP

Training

The LMA on behalf of all the Associations will be running an informative and interactive session on SCAP (Single Claims Agreement Party) tailored specifically for Underwriters and Placing Brokers on Wednesday 02 December 2020 at 14.00 via Zoom.

Engage in and understand how the use of SCAP can support and benefit products and policyholders, evidencing benefits from broker and carrier adoption – simplifying servicing from the front end.

 

“Benefits are undeniable. We are mystified why other brokers haven’t taken advantage of it” Claims Director, WTW

Background

85% of all policyholder claims in the London Market are less than £250,000. These cross-market, non-complex claims can be settled more quickly and easily by using the Single Claims Agreement Party (SCAP) framework which was launched in February 2018 via the model LMA clause LMA9150.

What we have seen so far

A review of SCAP usage and effectiveness was undertaken by the market trade associations, Lloyd’s and DXC, in Q3 2020, which reveals:

The SCAP framework is used extensively by two large brokers who benefit in the following ways:

  1. faster response times and settlement times
  2. improved customer experience thanks to a reduced number of queries
  3. no quality concerns from leader only claims management
  4. a single claims agreement party reduces expense for brokers and carriers
  5. improved end to end service for clients.

So why is SCAP adoption being challenged?

  1. The processes and benefits may not be fully understood by all.
  2. Further support should be provided to placement functions, with an opportunity for claims functions to revisit training.
  3. The training will help brokers to ensure the clause is included within the MRC (if there is more than one subscribing market) and underwriters to accept the clause unless a valid reason is presented.
  4. There will be the opportunity for market feedback on how processes can be improved
  5. The challenges within the operating model are still to be addressed within Future at Lloyd’s.

Key features of SCAP

  1. The application of SCAP is optional for brokers and carriers and needs to be considered at the point of placement.
  2. The current SCAP threshold is fixed at GBP 250,000 (or currency equivalent) to the slip.
  3. The SCAP Slip Lead must be a UK authorised (re)insurer or a Lloyd’s syndicate
  4. SCAP operates to give claims handling authority to the Slip Lead on a multi bureau / mixed market placement
  5. Insurance and reinsurance placements are both in scope for SCAP. However, binding authorities, proportional treaties and quota share treaties are outside of scope.

Further Information

All relevant documentation and the associated guidelines can be found in the Document Library of the LMG website.

Questions about SCAP should be directed by carriers and brokers to their relevant Market Association:

Lee Elliston
Claims Director, LMA
lee.elliston@lmalloyds.com		 Jackie Hobbs
Associate Director, LIIBA
jackie.hobbs@liiba.co.uk
   
Shanaz Ferreira-Cooper
Technical Executive Claims, LMA
shanaz.ferreira-cooper@lmalloyds.com		 Geraldine Wright
Company Secretary, LIIBA
geraldine.wright@liiba.co.uk
   
Paul Calvert
Senior Market Services Executive, IUA
paul.calvert@iua.co.uk		 Zoe Woods
Claims Improvement Manager, Lloyd’s
zoe.woods@lloyds.com
   
Kim Darrington
Market Modernisation, IUA
kim.darrington@iua.co.uk		  

 
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Claims Webinar for LIIBA members – Hold the Date: Thursday 10th December, 9am to 10am

Over the past year, LIIBA has been liaising with the Future at Lloyd’s Claims Programme through it’s…

Over the past year, LIIBA has been liaising with the Future at Lloyd’s Claims Programme through it’s Claims Liaison Group (COLG) and DA Claims Committee (DACC). In addition to the work being undertaken here, there are a number of claim initiatives underway where LIIBA have been working with both the LMA and IUA.

We will be running a seminar on the above date that will cover a multitude of these areas including:

  1. Future at Lloyd’s claim workstreams – including Faster Payment, DA Re-Engineering and SCAS
  2. Market move away from paper claim files
  3. Addressing static claims
  4. Catastrophe reporting
  5. SCAP Re-launch and embedding the Co-Lead Claims Agreement clause
  6. Delegated claim standards progress
  7. Training for market participants

Further details around the speakers and how to register for this event will follow shortly.

In the meantime, due to the amount of change expected in the claims area over the next 18 plus months, LIIBA is looking at creating a specific distribution list where news and events around claims will be shared. Should you or any colleagues wish to be added to LIIBA’s Claims distribution detail, please email: enquiries@liiba.co.uk with your contact details.

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