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Lloyd’s launches new service for high volume claims


February 3, 2014   by Canadian Underwriter


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Lloyd’s of London has launched a new service for high volume claims as part of its overall “claims transformation program.”

The new outsourced Volume Claims Service allows for cost-efficient handling of non-complex claims, Lloyd’s said Monday. The service will be provided by Xchanging and Crawford & Company, “both of whom will operate under upper quartile service level agreements,” according to Lloyd’s.

The service is “designed to handle high volume, low value claims which make up around 85 per cent of total claims in the Lloyd’s market,” according to its press release. 

“VCS enables Managing Agents to outsource the resolution of non-complex claims to two service providers offering competing levels of service and price,” David Land, head of claims at Lloyd’s commented in the release.

“The combination of fixed service level agreements and differentiated offerings from Xchanging and Crawford & Company provide the market with a new and compelling claims resolution alternative.” 


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