Announcing the Broadening of with the Release of Version 2.0 today

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Today, Version 2.0 of LMI ClaimsComparison. com is being released. In this version the claims service of a total of 23 classes of general insurance has been rated by policy holders, insurance brokers and suppliers to the insurance industry.

Data has been collected via a “Have Your Say” button on the website and through a survey conducted quarterly. The first one was completed in the third quarter of 2014.

Since its launch in 2013, LMI
has become one of our most viewed websites.

There are many companies that now have a link to the site, while others advertise their LMI claims rating. This is what I had hoped would happen as it all helps spread the word about the site to the insuring public. On this subject, I would like to thank Insurance NEWS who have been great supporters and provided meaningful advice along the way.

LMI have been developing this free service in baby steps, first starting with the retail policies (Home & Contents, Private Motor, Small Business/Farm, and Private Travel. The rating of these remains primarily through an analysis of the data from the Financial Services Ombudsmen Office supplemented where necessary by the survey. Interestingly, there was very little difference, with the odd exception, in the ratings following the survey to the original ratings based on the FOS data alone.

Version 2.0 includes, ISR and Business Packs, Liability, Construction, Professional Lines, Commercial Motor, Rural insurance, Caravans, Pleasure Craft and Corporate Travel. The rating for the wholesale products has been by survey and feedback alone. We did seek to include Product Recall and Cyber but the sample size was deemed too small at this stage to provide sufficient confidence to post the results. As these products become more popular and more claims are processed we will revisit their inclusion in

As with any survey, there will be winners and losers. All I ask is please do not shoot the messenger. We all think our product or service is the very best. The reality is that we cannot all be the best all the time. The idea behind is to acknowledge the best in the industry and to drive positive change in the insurance industry  for the good of the insuring public and brand insurance.

As I repeatedly say: at the time of a claim, the premium paid is of little interest at this point in time. What really matters is the coverage afforded by the policy, the claims service, and the financial strength of the underwriter/insurer.

The ClaimsComparison site assists in moving the emphasis from price and helps the insuring public appreciate the claims service they are likely to receive. Of course, no two claims are the same and the way any individual claim is handled is dependent on many factors and the rating given cannot be any guarantee that a particular claim will be handled well or otherwise.

Turning now to the rating of the wholesale products. There are four (4) categories that respondents are asked to consider when completing the survey:
Speed relates to the response of the Insurer in respect of:

  1. Initial Acknowledgement
  2. Acceptance or Denial of the claim
  3. Action on receipt of assessment
  4. Progress Payments (if applicable)
  5. Final Payment


  1. of loss adjuster (if appointed), did they check on you/the client or
  2. of the claims department, was it necessary for you/someone to keep chasing them?

Were the circumstances giving rise to the claim correctly identified by the loss adjuster, investigator, insurer, engineer and/or other consultants appointed by the insurer?
Were the policy’s Terms & Conditions correctly interpreted in your view?

Was your entitlement explained to you?
Were you refused assistance that you felt the policy provided or the insurer ought to have supplied?
Was the original settlement offer fair and reasonable?

There are five Measurements to grade each of the four (4) criteria:
star rating
Please note: To avoid any potential conflict of interest or allegation of bias, LMI  directors and employees are not permitted to participate in the survey.
Shorty, I will be seeking your input for the next survey and I thank you in anticipation for completing this so that we can continue to provide this service to you at no cost.
Please let me know what you think of Version 2.0 of

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