We started the morning with the actuarial team reviewing how they calculate/plan for reserves for claim payment. They had interactive quizzes and activities to engage us in the process which was great. At 11:30am we had an official Lloyds of London tour, we explored the building and learned the history behind Lloyds. The building itself is quite striking and the elevators are all glass, walls to floor, which provides a unique experience when riding up and down 11 stories!
We then met with the Political Violence team for lunch. They filled us in on what they do, what types of coverages they provide and their backgrounds (contrary to their name they were a very pleasant bunch and not violent at all, 😊). After lunch we went back to Lloyds and sat at the box and experienced a more in depth look at what they write and where. In the few hours there we looked at accounts in Bangladesh, Pakistan, Turkey, Mexico, and the U.S. One fun fact close to home is they also insure Lambeau Field – Go Pack!
At 4:30pm we ended for the day and all found ourselves wishing we could spend more time with them digging into accounts and discussing trending coverages, claims and risk tolerance. We are all very fortunate have this experience with Chaucer and we look forward to what the rest of the week will bring.
Adam, Cale & Emily