Premium negotiations for clients of Jardine Lloyd Thompson (JLT) are set to become more rigorous ahead of the next renewal of protection-and-indemnity (P&I) cover.
The broker has developed a P&I rating engine that will make the process of premium pricing more scientific and hopefully bring savings.
The P&I clubs already use underwriting models to come up with a premium quotation, while price comparison benchmarking is a common broking technique.
