coverholder initiatives lloyd’s branding, marketing & education stephen moore, manager,...
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Coverholder initiativesLLoyd’s Branding, marketing & education
Stephen Moore, Manager, International Market DevelopmentMatt Drage, Marketing Communications Manager 3 November 2011
© Lloyd’s2
The Coverholder Programme:
– Continuing 2010-2012 programme of initiatives
– Making it easier to do business with Lloyd’s
– Developing the channel, subject to proper controls
Today’s agenda:
– Reminder of strategic objectives
– What have we done this year
– What is coming up and feedback from you
INTRO & AGENDA
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A reminder of Lloyd’s strategic plan …
- Make placing business into the Lloyd’s market easier & more efficient
- Promotional & educational activities for existing & potential coverholders
- Provide robust oversight of coverholder business
To inform our work: -
1. 2010 survey of 400 coverholders & EU coverholder event
2. Structured interviews with brokers, agents and country managers
3. Structured interviews with MGA ‘advisory panel’
Context: - strategic importance
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PROGRESS to vision: MARKETING & COMMS
STARTING POINT
No easy way for retail brokersTo find their nearest Lloyd’scoverholder
Coverholders lacking thetools they need to promotethemselves
No consistent communication tocoverholders on key issues
Confusion over the Lloyd’sbrand and when it can be used
Today
New Coverholder Directory live
Lloyd’s Quick Guide explains how Lloyd’s works
New e-bulletin:- ‘CoverholderNews’ launched
New coverholder website
Release of new brand Guidelines
COMING UP
-
Marketing Fact Sheet to help coverholdersexplain Lloyd’s to clients
-
New branded policy jackets to be piloted
‘Coverholder plaque’ pilot for approved US coverholders
VISION: - Regular targeted communication - Easy to find information to understand & explain Lloyd’s - Coverholders well informed about Lloyd’s
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What have we done: coverholder experience
A ‘Quick Guide’ to help you explain how Lloyd’s works
Questions: - Do you use Quick Guide and is it helpful? - What more do you need?
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What have we done: coverholder experience New marketing & educational material for coverholders
Questions: -
- Do you use the web site and is it helpful?
- How can we make it better?
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WHAT WE HAVE done : COVERHOLDER EXPERIENCE
Next edition coming soon: -
• Lloyd’s Brand Guidelines
• The Coverholder Toolkit
• Lloyd’s results
• Updated reporting standards
• Coverholder week
New coverholder e-bulletin: - Coverholder News
Questions: -
- Did you see it? - Was it helpful? - How can we make it better?
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Clearer coverholder brand guidelines - supported by a new Coverholder Sub-Brand - building pride & engagement as part of a community
Brand guidelines available at :
www.lloyds.com/brand
WHAT WE HAVE done : COVERHOLDER EXPERIENCE
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What is new?
WHAT WE HAVE done : COVERHOLDER EXPERIENCE
1. A new brand
- Promotional material
2. Extended use
- Website
- Business Cards
- Letterheads
- As well as product specific material (if 100% written through Lloyd’s)
3. Simpler guidelines
- With a new emphasis
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At the start
No London events
Limited local events
Associations or networks in 2 countries
What have we done: EVENTS & networks
Sense of pride & engagement as part of community - local associations & networks - varied range of local & London events
Today
AAMGA, EU Coverholder & Audit events
and Technology forum in London
Local class of business & awards events
& networking opportunities
Associations & networks in 8 countries*
* = UK, Ireland, France, Sweden, Switzerland, Italy, Spain, Hong Kong
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PROGRESS to vision: EDUCATION
STARTING POINT
Many coverholders found Lloyd’s confusing
Coverholders interestedIn learning more, but no accessible training
Lack of awareness of Lloyd’samongst prospectiveclients and coverholders, especially in 20-35 yr age group
CURRENT POSITION
Strategic review of educational requirements in 2010
New educational materials available on www.lloyds.com
LLMIT on-line training is live
The Coverholder Toolkit is live
Australian Diploma launched
COMING UP
Promote LLMIT globallyvia country managers
Delegated UnderwritingModule in LMA Academy
Inwards visit programme to be considered
ACII Diploma to be considered
VISION: - range of guidance & educational offerings - clear pathway from introductory to advanced learning - easy to find & use training & guidance materials
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What have we done: the coverholder toolkit
A clear and simple guide to doing business with Lloyd’s - an on-line one stop shop for coverholder information
www.lloyds.com/coverholdertoolkit
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Who has it been designed for?
Those new to the London
Insurance Market
Those wanting a wider
understanding of how the
market operates
Managing agents Lloyd’s brokersNon-Executive Directors Professional services Regulators Risk managers Coverholders Overseas brokers
What have we done: LLMIT
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What does it consist of?
A user friendly e-learning course
Downloadable learning material
A 90 minute exam covering 75 multiple choice questions
Tests understanding of:
Lloyd’sInsurance and reinsuranceClasses of business Legal principlesContract certaintyRole of brokersUnderwriting How claims workCoverholders & delegated underwriting
What have we done: LLMIT
© Lloyd’s16 Europe: MARKET UPDATE October 2008Lloyd's International Markets QUICK TOUR
Network of Pearson Test Centres - Europe
104
414
19
Netherlands39
Belgium11
Russia68
Poland26
Turkey13
Austria19
Israel22
Greece14 Portugal 18
Spain 77
Italy 89
Switzerland 35
France 60
Ireland 26
UK414 Denmark9 Norway16 Sweden22 Germany209
Cyprus3
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Interested?
1. Visit www.mindhub.co.uk to purchase the LLMIT package
Corporate prices are available on request at [email protected]
2. Register for an exam at www.pearsonvue.com/lloyds
3. Complete the exam at a time that suits
Presentation name 00 July 200517
What have we done: LLMIT
Further possibilities: - Coverholder plaques
What are others in the market
doing?
What could Lloyd’s do?
Question: - Would this be of interest in Europe? - Would it add value to you? - What is of most value – a certificate or plaque?
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We would like to extend some of the benefits of being part of the Lloyd’s family to our coverholders.
Key features of the Coverholder ClubCard could include:
Access to the network of Lloyd’s overseas offices for hot-desking and meetings
Access to discounted hotel rates negotiated by Lloyd’s
Access to a password protected internet forum which would allow CH to blog and
share ideas/questions
Access to selected discounts at the Lloyd’s shop
Question: - Would this be of interest to you?
Further possibilities: Coverholder club card