Group Risk Development (GRiD), the trade body for the Group Risk Industry, has appointed Lee Lovett as its elected chair.
As part of his chairmanship, Lovett, Head of Business Development, UK and Ireland Life, Munich Re, plans to further develop the work of the group in engaging with government, industry stakeholders and employers to raise awareness and understanding of Group Risk and drive the benefits down to end users.
Lovett has been an active member of GRiD, and of its Steering Committee, for seven years, and was the leading force behind the launch of the GRiD claims survey in 2011, an industry-wide survey annually publishing collated claims paid data for Group Life, Group Income Protection and Group Criticail Illness. In 2014, this also involved co-ordinating, for the first time, industry efforts to standardise protocols for publishing pan-industry new claims paid percentages for the previous year, with universial participation by all Group Risk insurers.
The latest results showed a total of £1.24bn worth of claims was paid out by the Group Risk industry during 2013, helping a total of 24,102 UK families avoid financial difficulty.
Lovett said: “I feel very privileged to hold this role, and am looking forward to building on the work GRiD has done in recent years in influencing awareness and recognition of the Group Risk industry. As we build up to the General Election, the current environment – political, economic and legislative – will create both challenges and opportunities for us and we intend to be at the fore of the debate.”
Lovett takes over from former chair David Cross following his six year tenure. Cross (Head of Benefits, General Consulting, Towers Watson) will remain on the Steering Committee and continue to play an active role within GRiD.
Lovett paid tribute to Cross's achievements saying "David has made an outstanding contribution towards driving GRiD forward in raising its own profile and that of the Group Risk industry as a whole, as well as influencing and leading the market in a number of key areas and we owe him a great deal for his huge commitment to the industry on top of an extremely demanding day job."