Technology
In the ever-changing environment of the technology industry, Lockton recognizes the need to go beyond traditional approaches to new risks. We operate with a high sense of urgency, and can easily deal with and quickly respond to fast paced and ongoing change. Our team has extensive client-side risk management experience. We understand your business and speak your technology specific language. We can anticipate your risk issues as you grow and expand your operations and we take the time to develop innovative solutions for your specific current needs. We help you to be more cost efficient with your risk management budget. We have great leverage with the markets because they trust, respect and value our focused technology industry segment experience and expertise.
You will benefit from our expert advice on the following coverages:
- Directors’ & Officers’ Liability
- Tech Errors & Omissions
- Network and Media Liability
- Property and Cargo
Your company will benefit from our expert advice in:
- Risk Management Consulting
- Risk Identification and Assessment
- Consultative Risk Control
- HPR Engineering
- Business Interruption and Contingent Business Interruption Analysis
- Detailed Property Risk Marketing (COPE) Reports
- Cargo Loss Control
- International Program Design and Management (Master Controlled)
- Specialty Risk (Business Continuity Planning, Pandemic Response, etc.)
- Contract Review
- Claims Advocacy
We have extensive experience with the following types of companies:
- Electronic Hardware
- Information Technology
- Internet
- Medical Equipment
- Semiconductor
- Software
- Telecommunications
Lockton Service
The key to our success is working in close partnership with each of our clients. Our specialists take time to listen and to understand your specific goals so that we deliver insurance solutions tailored to your requirements. This approach has earned us the trust of clients all over the world.
The same team that designs, negotiates and implements your business insurance plan with the carrier is also responsible for managing your service needs. This dedicated team approach increases our understanding of your business, allows us to anticipate your needs, and creates accountability and ownership by the team throughout the entire process.
Most insurance brokers promise a high-level of personalized service, but our unique structure allows us to actually deliver on that promise everyday. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
We firmly believe we get business based on our expertise, creative solutions and outstanding service. Just as importantly, our client retention rate of 95 percent reflects our commitment to each and every client.
|
Success Stories: |
|
Cost savings of more than $2M achieved over expiring program
Through a Request for Proposal process, Lockton’s Technology team was presented with a challenge by a large semiconductor company to come up with creative renewal options within two months. The team assisted the risk manager in an initial risk audit even before the company was a client and identified areas which were most in need of solutions.
Once the account was won, a comprehensive analysis of the client’s current program garnered detailed applications, statements and reports used to create a submission that resulted in cost savings of more than $2 million premiums over the expiring program. The team then negotiated an option for the client to use some of this savings to increase their insurance limits where necessary while still reducing insurance premiums from the expiring program by more than $1.2 million.
|
 |