LAMP is involved in the insurance space. It seeks out niche, non-correlating opportunities on a global basis and provides added-value products and services for clients.
LAMP seeks to differentiate itself by means of:
- expertise – ensuring that the company is better at research and understanding than its peers
- process – handling insurance controls better than others
- customisation – being better at making product fit local and client circumstances
- customer focus – delivering well
LAMP is entrepreneurial and seeks to find solutions. It is also risk averse and so aims to avoid retaining accumulating risks, correlating risks and large risks. The company believes in respect for its staff and others, conducts itself ethically and considers stakeholders appropriately. Expressed simply, LAMP tries to do what is ‘right’.
Delivery of Strategy
LAMP distributes insurance contracts, insurance-related contracts and contracts related to assets in the niches in which it operates. It underwrites both insurance and reinsurance. The contracts are effected in EU territories on a wholesale basis, even though the underlying risks may be located anywhere on the globe. It manages claims and networks to the benefit of stakeholders but within contractual bounds.
LAMP employs good people and aims to develop and retain them long term. People are key to a strategy differentiated as LAMP’s is.