The Lloyd’s Market Association’s Claims Committee (LMACC) will support and fund a satellite imagery and intelligence scheme for Lloyd’s of London managing agents.
The new service will be open to all Lloyd’s managing agents, and is designed to improve claims processes and exposure management, both pre and post a natural disaster, or catastrophe event, explains the LMACC.
McKenzie Intelligence Service (MIS) has worked with managing agent representatives from the LMA, Lloyd’s of London, and LMA Sector Groups to develop the imagery and satellite service that acts as a support for the market before an event takes place, and after the occurrence of an event, across numerous business lines.
Senior Claims Executive at the LMA, Ruth Cameron-Errington, said; “Data and analytics are driving rapid change in our industry and I am pleased that we are supporting such an important and growing field. This service and the technology it brings will undoubtedly further improve the way in which claims professionals and the wider market manage and respond to claims post a significant natural catastrophe.”
According to the LMACC, the data and analytics provided by the service will enable claims professionals at the Lloyd’s marketplace to manage and also adjust claims remotely. The LMACC states that the service will be delivered to managing agents through MIS’s custom-built portal.
