John Sims appointed to spearhead growth
Claims advocate Lorega has said it is to expand significantly in the UK by driving the growing market for providing commercial and personal lines brokers and their policyholders with expert negotiation support in the event of a complex claim.
The company said it has calculated that the total market for its advocacy services and unique Loss Recovery Insurance product is in excess of £200m in the UK alone.
Lorega has appointed John Sims as chief executive officer. Mr Sims was previously head of personal lines at Chubb Insurance Company of Europe.
He will replace and report to Malcolm Harvey, who becomes chairman of the business.
Commenting on the appointment Mr Harvey said: “Lorega offers brokers a risk transfer mechanism for claims handling and in John we have someone who has a passion for and knows more about what exceptional claims service looks like than practically anyone in the market. He has been surrounded by claims excellence for the past decade. That experience and his contacts position us perfectly to champion claims excellence in the industry, to the benefit of all those involved.”
Mr Sims said: “Claims are the shop window of this industry and I firmly believe that claims excellence should be a cornerstone of all areas of insurance, not just specialist HNW insurers like Chubb and Hiscox. I am looking forward to driving growth at Lorega. We will focus on urging brokers to adopt our product such that it becomes the rule rather than the exception. That will enable them to deliver a fast and fair settlement for their clients and ultimately enhance the reputation of loss recovery within the insurance industry. At present the vast majority of the business is commercial but it is my intention to also take the business further into the HNW/personal lines arenas,” he added.
