Lloyd’s Program Aims to Increase Claims Talent

Lloyd’s has announced that it will establish a dedicated program to recruit and train 50 claims professionals over the next five years, which it said is equivalent to “10 per cent of claims personnel currently in the market.”

The Lloyd’s Claims Talent Program will provide advanced training to selected market practitioners and target new graduates.

Kent Chaplin, Lloyd’s Head of Claims, explained: “The program will promote claims as a recognized profession in the market, and will develop future talent in a field of insurance that is essential to our competitive success.

“Claims is an extremely important side of insurance for the policyholder – it’s the shop front. With that in mind, it’s imperative that we have the best and brightest people working in the field.”

Lloyd’s added that its “2010-2012 Strategy recognized the need to establish a dedicated development program for current and future professionals, a move that is supported by over 90 per cent of managing agents according to a June survey.

Chaplin noted that “This has been set up in direct response to concerns from managing agents that they may soon be facing a skills shortage in the area. Of the managing agents we asked, nearly two thirds reported that they have faced real challenges recruiting high quality candidates, which we think the program will address.”

The proposed program would consist of a “12 month rolling intake, will combine formal training in claims specific subjects, case studies and practical placements at Lloyd’s, broking firms, managing agents and law firms, all underpinned by ongoing professional examinations. The first group of market practitioners will join early next year and the initial graduate intake will follow in the autumn.”

Source: Lloyd’s