The latest news from the LMA;
The Lloyd’s Market Association (LMA) and International Underwriting Association (IUA) have today launched the Claims Capability Framework, a cross-market resource designed to support the development of claims professionals during their first two years in the London market.
The framework, developed by the LMA with support from across the London market, establishes a clear pathway for the technical knowledge, skills and experiences expected of new claims entrants. It aims to provide a consistent foundation for the development of claims practitioners across the London market, while remaining flexible enough for firms to integrate into their existing learning and development programmes.
The framework has been co-created by 37 professionals from 25 market firms, including heads of claims, claims managers, emerging claims professionals and HR and learning specialists from across Lloyd’s, the company market and the broking community. It covers six core capability areas, from market and technical claims knowledge through to governance, operations and interpersonal skills.
Janine Powell, Claims Director at the LMA, commented: “As the market continues to evolve, it is essential that we invest in developing the next generation of claims professionals and maintain high professional technical standards and skills.
“The Claims Capability Framework provides a clear and consistent pathway of skills, technical knowledge and learning experiences that new entrants should expect to develop during their first two years in the market. Importantly, it has been created by the market, for the market, demonstrating the commitment to delivering high-quality foundational learning for the claims profession.”
Joe Shaw, Director of Claims at the International Underwriting Association, said: “The London market faces a vital challenge to recruit new claims talent and it is just as important to ensure that as people enter the market they receive the training and development they need to establish successful careers.
“The Claims Capability Framework seeks to do this by laying out a clear pathway for achievement. It will provide opportunities to furnish practitioners with both essential skills and a professional network that will stand them in good stead for years to come.”
Alongside the framework, the LMA has also published an implementation guide and supporting FAQs to help organisations embed the framework in a way that best suits their own development strategies.
The Claims Capability Framework can be accessed via the LMA website.
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