Insurance and Lloyd
"at the heart of the Lloyd’s brand story is the phrase “constant originality”. Based on your research describe where this is supporting the organisation to remain the leading insurance market".
Good afternoon ladies and gentleman. Welcome to the presentation. Today, I am going to discuss the following question: ”How being constantly original supports Lloyd’s to remain the leading insurance market?”
Before I start describing and analyzing the true effect of this unique brand idea on maintaining the status of Lloyd’s as the world’s leading specialist insurance market, we need to understand what it really stands for.
Being constant is about tradition, good faith, security and worldwide reputation for honoring its word
Originality refers to the Lloyd’s creativity in coming up with innovative solutions for risks; its willingness to be different; and the adaptability that has enabled Lloyd’s to survive and prosper for over 300 years. These two words summarize all the best qualities that make Lloyd’s market really different. This brand idea is by far the strongest in the global insurance market, and it has remained so for many years only because Lloyd’s has done everything possible to be consistent with this brand idea in everything it did and at every opportunity, which was the most important factor that helped Lloyd’s remain its leading position in the insurance market. In other words, it is the most simplified expression of what Lloyd’s really stands for.
Let’s now see how Lloyd’s is being constantly original and how it is contributing to its reputation:
Firstly, throughout the history, Lloyd’s has often been the first to insure world’s largest, new, unusual, most individual and complex risks, when many others were unwilling to do so. Lloyd’s specializes in risks that hard to price, large or otherwise difficult to quantify and understand. From oil rigs and bridges to celebrity body parts, from airlines and sporting events to global banks, millions of
Good afternoon ladies and gentleman. Welcome to the presentation. Today, I am going to discuss the following question: ”How being constantly original supports Lloyd’s to remain the leading insurance market?”
Before I start describing and analyzing the true effect of this unique brand idea on maintaining the status of Lloyd’s as the world’s leading specialist insurance market, we need to understand what it really stands for.
Being constant is about tradition, good faith, security and worldwide reputation for honoring its word
Originality refers to the Lloyd’s creativity in coming up with innovative solutions for risks; its willingness to be different; and the adaptability that has enabled Lloyd’s to survive and prosper for over 300 years. These two words summarize all the best qualities that make Lloyd’s market really different. This brand idea is by far the strongest in the global insurance market, and it has remained so for many years only because Lloyd’s has done everything possible to be consistent with this brand idea in everything it did and at every opportunity, which was the most important factor that helped Lloyd’s remain its leading position in the insurance market. In other words, it is the most simplified expression of what Lloyd’s really stands for.
Let’s now see how Lloyd’s is being constantly original and how it is contributing to its reputation:
Firstly, throughout the history, Lloyd’s has often been the first to insure world’s largest, new, unusual, most individual and complex risks, when many others were unwilling to do so. Lloyd’s specializes in risks that hard to price, large or otherwise difficult to quantify and understand. From oil rigs and bridges to celebrity body parts, from airlines and sporting events to global banks, millions of