Within the London market, brokers and insurers have started to ramp up their transformation programmes after the launch of the Future@Lloyd’s Blueprint 2 Programme.
There are challenges and opportunities for the market in implementing these changes and the extent of these changes will differ if you are a broker or an insurer. Which brings us to the question of how ready companies are to implement these changes?
There is a dawning realisation that the success or otherwise of London market transformation will be predicated on the role that system vendors and subsequent implementation plays in change (of course supporting the necessary behavioural change). We explore the current state of challenges in the London Market, specifically around data and legacy systems and how to address them to become a data-first organisation. There are gaps between legacy and future systems when implementing the Future@Lloyd’s programme that need to be addressed and businesses need to understand what options are available to them to resolve and mitigate these challenges.