PPL usage reaches all-time high in 2021Risks bound on the London market’s e-placement platform, Placing Platform Limited (PPL), reached a record high of 187,374 placements in 2021.
Future at Lloyd’s tops list of LMA priorities for 2022The Lloyd’s Market Association (LMA) has today announced its top priorities for 2022, with the Future at Lloyd’s and digitisation, regulatory changes and technical expertise advocacy identified as its three key pillars for the coming year.
Brit names Chaganty chief data officerBrit has appointed Kanika Chaganty as chief data officer as the Lloyd’s insurer continues to build on its ambition to play a leading role in the digitalisation of the London market.
Lloyd’s CEO says market must hold Corporation to account on Blueprint Two progressLloyd’s CEO John Neal has called on the market to hold the Corporation to account and use its newly launched Blueprint Two roadmap as a tool to measure progress ahead of a critical 30-month period in its modernisation drive.
The promised land of Lloyd’s digitalisation is still achievable but time is running outThere have been many false starts on the road leading Lloyd’s to the promised land of e-placement and digital back-office processing.
Lloyd’s COO Rigby exitsLloyd’s has announced that its COO Jennifer Rigby is to leave the Corporation later this week, with chief financial officer Burkhard Keese set to take over her role and responsibility for technology and operations at One Lime Street.
IUA makes climate change, BI and regulatory changes 2022 business prioritiesThe International Underwriting Association has highlighted climate risk, business interruption, regulatory changes and pandemic response as key focus areas within its 2022 business plan.
Lloyd’s and IUA agree new joint venture with DXC to rebuild London’s “digital engine room”Lloyd’s has signed a contract with DXC Technology and the International Underwriting Association for a new joint venture to rebuild the market’s “digital engine room”, in what the Corporation described as a “pivotal moment” in fulfilling the ambitions set out in Blueprint Two.
Blueprint II: Legacy non-compete clause draws Lloyd’s and DXC together for 2022 build-outOutsourcing company DXC Technology benefits from an inviolable contract which prevents Lloyd’s CEO John Neal from pushing ahead with his Future at Lloyd’s transformation plans without the US firm’s consent, The Insurer can reveal.
LMG creates new Data Council to drive London market digitisationThe London Market Group has created a new Data Council to drive the digitisation across the London market.
Ebix launches new placing platform to rival PPLLondon market technology provider Ebix Europe is developing a new electronic trading platform that will offer an alternative to the recently announced PPL NextGen platform.
Brit partners with Lloyd’s to pilot continuous contracts for coverholdersFairfax-owned Brit is set to pilot the first continuous binders for delegated authorities at Lloyd’s, working with brokers Amwins Global Risks and Bowood on the new initiative.
PPL commits to unveiling new platform in 2022PPL’s NextGen placing platform will be delivered to the London market in 2022, its chairman and retiring Hiscox Group CEO Bronek Masojada said today.
Acord expands global data standards to include electronic placementGlobal insurance standards-setting body Acord has expanded its Global Reinsurance and Large Commercial (GRLC) data standards to include new standards for electronic placing.
Catlin: London modernisation initiative Blueprint Two is “accelerating not decelerating”Industry figurehead Stephen Catlin has provided an upbeat assessment of progress on Lloyd’s market modernisation plans amid fears momentum has slowed in recent months.
PPL partners with Deloitte on NextGen placing platformPPL’s board has selected Deloitte to build its NextGen placing platform ahead of Whitespace, its rival for the contract.
Lloyd’s reveals strategic overhaul for Blueprint Two, chief digital officer Smith exitsLloyd’s chief digital officer Louise Smith is set to depart the Corporation after it announced a strategic replan of Blueprint Two.
Lloyd’s, LMA and IUA agree central processing partnership with DXC TechnologyLloyd’s has announced a partnership that will see DXC Technology develop new digital processing capabilities to help achieve the ambitions set out in the market’s Blueprint Two initiative.
Operational resilience – strength from withinMonique Alder, chief operating officer at Volante Global, considers the operational shift in the London market driven by the pandemic and considers how it might alter the operating environment moving forward.
Brit’s Ki bound 1,000+ risks in Q1; launches Broker APIBrit Insurance’s pioneering follow-only syndicate Ki bound over 1,000 risks in the first quarter of this year, the platform revealed as it announced the release of its Broker API.