Digital transformation is not about a singular approach and letting go of past successes,
but rather the meshing of the old and new to achieve optimal peak performance.
- Mark Weir
PRESS RELEASE London, UK, November 19, 2018 Fenchurch Park London and LCM Solutions Canada are delighted to announce a strategic partnership specifically designed to consult into Managing Agents, London Market Insurers, London Market Brokers, MGAs and Coverholders in relation to TOM (Target Operating Model), a core component of the market modernisation proposal set out by the London Market Group.Read More
Underwriters continue to feel the pressures of climate change on their property losses and continue to look for ways of reducing claims costs. The formal procurement process has helped to reduce costs and improve service but has procurement gone far enough?Read More
Improving the Claims Experience Insureds and carriers agree that more communication can address common claims complaints. Carriers today often argue that buying their insurance product is about much more than financial indemnity and peace of mind. Many insurers include a variety of risk management services and resources in their packages to position themselves as true risk partners who help clients build resiliency and prevent losses in the first place. That’s all well and good. No company wants to experience a loss, after all.Read More
2018 Trend #1: Increased Focus on Cost-to-serve OK… so this is almost a prediction, but it’s a topic on which I feel qualified to speculate, and I do so with good reason. The burgeoning growth in omnichannel supply is great news for consumers and even enterprise buyers, but it also continues to add considerable complexity for supply chain organisations. In many cases, supplying companies have taken an “Implement first. Ask questions later” approach to multi-channel and omnichannel strategies in their haste to avoid losing sales to ecommerce giants like Amazon. One of the key risks involved in such an approach is that certain sales will undoubtedly be unprofitable, and that’s an untenable situation for supply companies to remain in.Read More