The need to analyse, negotiate and facilitate decision making on all components of your insurance and risk management program is now more vital than ever before.

— PRODUCTS AND SERVICES

Data Analysis Services

Transforming data into meaningful information and quality decisions

Contact us

Understanding data is vital

The need to analyse, negotiate and facilitate decision making on all components of your insurance and risk management program is now more vital than ever before. The prevalence and availability of data is not the issue, it is how to disseminate the data into meaningful information to make quality decisions that can transform business operations and financial returns.

We provide clear and concise analytics to help you make informed decisions. Coupled with market intelligence and sound judgment, we assist you with creating a clear oversight of the current environment and strategic road maps to help meet business objectives.

Lockton’s approach to analytics is a key differentiator

Analytics are viewed as an ongoing, collaborative process to support our client’s businesses, not a static report. We challenge our clients to find answers to questions like:

  • Do I have the right retentions?

  • Do I have enough limits?

  • What is driving the change in my projected loss rate?

  • Do I have an exit strategy?

  • How is my risk changing as I acquire, divest and grow?

  • Are my losses tracking as expected?

  • How will my Total Cost of Risk change if I change my program structure?

  • How will my cash flow change if I change program structure?

  • How will multi-year structures change my Total Cost of Risk?

  • Is my claims management plan effectively reducing the cost of claims?

  • How can I implement preventative and cost mitigation plans?

Our Products and Services

Effective analytics services are based on supplementing quantitative data (collect, clean data and transform data) with qualitative understanding of your businesses (gain knowledge, apply wisdom, and achieve better results) as in the diagram to the right.

This process is universal to most classes of insurance where high volume claims or high values can be generated from the following risks:

  • Property and catastrophic events like major property exposure to weather, flood, fire, wind etc.

  • Workers’ compensation - all states, government and privately underwritten

  • Motor vehicle fleet

  • Liability

Presenting our client’s risk profile to insurers through a more informed lens will educate the underwriter to understand the risk and provide new opportunities to enhance cover, reduce price and reduce claim costs.

We're here to help

We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

Talk to our team

Key Contact

Placeholder image

Craig Simpson

Manager, Workers' Compensation
craig.simpson@lockton.com
+61 414 637 205

General Inquiries

Get in touch

info.au@lockton.com

Latest news and insights

Amidst the ongoing discourse surrounding Victoria’s WorkCover Scheme Modernisation Act, attention has been drawn to what has been termed a "premium freeze”. But what does this term really mean? And how will the so-called premium freeze actually impact Victorian employers? In this arrticle, we explore these questions and provides valuable insights into what Victorian employers can actually expect at their upcoming workers' compensation renewal.The Victorian Workers' Compensation ‘Premium Freeze’: when a freeze is not a freeze

The Victorian Workers' Compensation ‘Premium Freeze’: when a freeze is not a freeze

article
After undergoing rigorous political negotiations, the Workplace Injury Rehabilitation and Compensation Amendment Act 2023, also referred to as the "WorkCover Scheme Modernisation Act", successfully traversed Victoria's parliament, obtaining Royal Assent and co ...
Read moreThe Victorian Workers' Compensation ‘Premium Freeze’: when a freeze is not a freeze

Aged Care Wage Increases: Risk and Insurance Perspectives

The Fair Work Commission's decision to increase wages for aged care workers by up 28.5 per cent to is set to have a significant impact on the sector. From mitigating risks to navigating insurance challenges, we explore what we consider to be some of the key potential risk and insurance implications of the wage increases for aged care providers. Discover why leveraging the wage increases as a catalyst for positive change could enable aged care providers to strategically position themselves for long-term success amidst the sector's challenging landscape.The Fair Work Commission's decision to increase wages for aged care workers by up 28.5 per cent to is set to have a significant impact on the sector. From mitigating risks to navigating insurance challenges, we explore what we consider to be some of the key potential risk and insurance implications of the wage increases for aged care providers. Discover why leveraging the wage increases as a catalyst for positive change could enable aged care providers to strategically position themselves for long-term success amidst the sector's challenging landscape.

Dan Chapman rejoins Lockton’s Trade Credit, Surety and Political Risk team

Mr. Chapman was one of the founding members of Lockton Australia in 2012 and returns to the business having spent the past seven years running the Credit Solutions team for Aon in Australia which saw a four-fold increase during his tenure. Mr. Chapman was one of the founding members of Lockton Australia in 2012 and returns to the business having spent the past seven years running the Credit Solutions team for Aon in Australia which saw a four-fold increase during his tenure.

Product recall: mitigating against labelling and packaging errors

Errors in the labelling and packaging process are one of the main drivers of product recalls in the global food and drink sector. Where such events occur, their impacts for businesses can be devastating – including consumer harm, financial loss, and reputational damage. As regulation tightens around labelling and packaging, and with a worsening economic climate driving potential errors, businesses must take steps to ensure their processes are robust.Errors in the labelling and packaging process are one of the main drivers of product recalls in the global food and drink sector. Where such events occur, their impacts for businesses can be devastating – including consumer harm, financial loss, and reputational damage. As regulation tightens around labelling and packaging, and with a worsening economic climate driving potential errors, businesses must take steps to ensure their processes are robust.
See all news and insights

With a global footprint of over 100 offices, there’s sure to be one near you.

Find an office
*100+ Lockton offices and partner offices worldwide
Lockton blue globe