During 2005, Lloyd's successfully completed a major Customer Satisfaction Research exercise - the first of its kind and scale ever achieved by the market - which has formed a baseline from which the success of process improvement initiatives can be measured annually.

Acritas was appointed by Lloyd's Business Process Reform Team and Research Manager in 2004, when planning and preparatory work commenced. Early stages of the research programme involved internal depth interviews resulting in the identification of over twenty 'touchpoints' to produce a map of the 'Customer Journey'. These touchpoints were then validated externally and further qualitative research led to a shorter list of the twelve key points being developed. In total, over 50 face-to-face interviews in the UK and US contributed to the first phase of research.

A quantitative questionnaire was designed to robustly test customer satisfaction and provide a comparison with the performance of competitors at each key touchpoint. Over 400 telephone interviews were conducted with representatives of customer groups at all stages of Lloyd's complex distribution chain to arrive at the baseline measure of customer satisfaction. The research was used as a major point of reference for the Business Reform Team in prioritising its objectives and activities.

In autumn 2008 the fourth wave of Lloyd's Customer Satisfaction Research took place, which provided the fourth set of time series data, and incorporated over 700 interviews in six European countries and the US. The Lloyd’s Customer Satisfaction Project is a critical annual tool for benchmarking the organisations performance against KPI’s.