Principles for Doing Business at Lloyd's
Principle 5: Customer Outcomes – Principles for Doing Business at Lloyd's

Principles for Doing Business at Lloyd's P5.5: 5.5 Engage, manage and oversee third-party service providers

Third-party service providers are engaged, managed and overseen in line with the outsourcing strategy and the managing agent's service standard. Baseline: due diligence completed and performance monitored; terms of delegation, service standards, reporting and audit obligations and termination provisions set and communicated. Higher levels add pre-engagement capability assessments for the product and target market, quality control against operational and outcome targets, and frequent engagement and training to improve consistency.

Maintained by Gerard Blokdyk

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