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Posted by Steve Pieroway on November 21, 2017

Codify your commercial lines knowledge with this one vital thing

Think back to the whisper game you probably played as a kid. You know the game: a group of you would sit in a circle and one person would start by whispering a sentence in the person’s ear next to them. Then one-by-one, each person would whisper the sentence they heard to the person next to them.

The most common result? The sentence that made it back to the person who started the game was nothing like original one.

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Posted by Steve Pieroway on November 16, 2017

This 1 thing keeps Lloyd’s coverholders from maximizing profit

Most Lloyd’s coverholders begin as brokers, and then become tribunalized. This is often the start of the issuing policies process for brokers. And though it might seem like a natural progression, the underlying workflows and responsibilities are different. 

Here’s why.

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Posted by Steve Pieroway on November 9, 2017

Hockey sticks, AEGIS London and Lloyd’s Canada Workflow

On the surface, ‘hockey stick’ and ‘AEGIS LONDON’ are not two phrases that would appear to have much in common. However, hockey stick is exa ctly h ow Nazir Haji, Senior Vice President, Business Development at AEGIS LONDON (“AEGIS”) describes the steady and growth that AEGIS has experienced in Canada over the last few years, and how AEGIS has been leading the market in implementing new and coverholder-friendly initiatives. Read More

Posted by Steve Pieroway on November 8, 2017

What makes digital possible in commercial-lines? Machinable data.

 

Think of information you type into a Word or Excel document. It's stuck there. This is why CSR's who are forced to use Word and Excel to produce commercial documents - submissions, proposals, certificates - are masters at the 'copy & paste' shuffle.

Data stored in Word, Excel and PDFs is static. Stuck. Trapped. It doesn't move. 

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Posted by Kathleen Kotchon on November 2, 2017

5 Tips for Using the Lloyd’s Lineage Portal More Efficiently

Lloyd's Lineage is an online portal used for the reporting and settlement of Canadian binding authority business that also generates reports for regulatory reporting.

Even though the portal is used for many things like accounting and claims settlement, Policy Works focuses on uploading commercial insurance transaction data (batches) generated by brokers and MGAs to the portal. Policy Works has been uploading data to the Lloyd’s Lineage portal for over a decade. Lorin McCaffrey, Director of Product Development at Policy Works, shares a few tips and tricks that will help ensure your batches upload smoothly.

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Posted by Steve Pieroway on October 31, 2017

3 costs of using static data in commercial-lines

 

The cost of using static data in commercial-lines is high. Though to many brokerage principals, it can be hard to see. Why? Because when you're removed from the day-to-day operations of CSRs and Marketers, you can miss the impact of workflow inefficiencies. 

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Posted by Kathleen Kotchon on October 26, 2017

Lloyd’s Jargon: Do you really know what you’re talking about?

Everyone in the insurance industry around the globe knows that Lloyd’s is unique. It’s unique in that it’s the only insurance market in the world. Lloyd’s is also unique when it comes to things they insure like offshore oil drilling platforms and space shuttle missions.

One thing that is truly unique about Lloyd’s is their vocabulary. It is so complex, it has its own glossary. Here are five everyday words that have a definition all their own when visiting One Lime Street, London.

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Posted by Steve Pieroway on October 24, 2017

3 ideas to start thinking digital in commercial lines

We often speak with brokers about 'being digital' in commercial lines. What does this mean? Where do you start?

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Posted by Kathleen Kotchon on October 19, 2017

How to Manage Lloyd’s Audit Anxiety

Many coverholders don’t look forward to their annual audit. Even though most audit procedures are straightforward, it is normal to become harried at the thought of having someone come into your office and assess your most valuable book of business.

Cast aside all doubts, the situation is under control. Read on to find out why many coverholders get audit anxiety and what you can do to overcome it.

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Posted by Steve Pieroway on October 19, 2017

What about the Broker Experience?

I recently attended the Atlantic Broker convention in Halifax. A theme that is all too common came up: focus on the customer. Phrases like 'customer centricity', 'customer oriented', 'customer experience' and 'customer preference strategy' were spoken. Rightfully so. The heart of any business, really, is satisfied customers.

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