Blueprint One: Update

Since the launch of Blueprint One in September 2019, Lloyd’s has been building the team and the plans to execute the first phase of the Future at Lloyd’s; our ambitious strategy to create the world’s most advanced insurance marketplace, providing our customers with the support and protection they need to grow and prosper.

During the transition period that began on 1 October 2019, we have talked to our stakeholders to understand more about their priorities, we have assembled a team that combines the talents of specialists from the Lloyd’s market and Corporation with the expertise of experienced delivery partners, and we have built out plans for each of the Future at Lloyd’s workstreams.

The purpose of this update is to bring everyone up to speed with our progress during transition, the evolution of our thinking and prioritisation, detailed plans for each workstream that sets out what we will achieve by the end of 2020, as well as how to get involved.

Our 2020 priorities

Based on feedback from the market, we are prioritising the delivery of three specific Future at Lloyd’s components that will deliver the most initial impact and value to participants.

These are: the complex risk platform (including next generation PPL); the Lloyd's risk exchange (including digital coverholder solution); and the claims solution.

We are also prioritising three other components that are essential parts of the Future at Lloyd's infrastructure. These are: data and technology; middle and back office (which is a new workstream); and lead/follow (modern syndication of risk).

Our progress in transition

As well as engaging with more than 1,000 stakeholders around the world, we achieved three major objectives during transition: securing the funding for the Future at Lloyd's; putting in place a robust governance structure; and setting up delivery teams and plans for each workstream.

That does not mean the work has stopped on the solutions themselves. The teams have been busy building early-stage components and proofs of concept, furthering design work and putting the right resources in place for the delivery phase.

A clear plan for 2020

In Blueprint One, we were clear about what we wanted to achieve in Phase I.

During transition, we have refined our plans and have put in place the people, resources and governance we need to execute them.