The Future at Lloyd's
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.
Following our Blueprint One: Update in February 2020, the Future at Lloyd's has sharpened its focus in response to operational, economic and societal challenges presented by the COVID-19 pandemic. Although we have scaled back on a number of activities throughout Q2 and 2020, we are continuing to deliver progress across a number of our workstreams. Find out more here.
Alongside Lloyd's response to the crisis, the implications of the lockdown have also reinforced the importance of building a digital Lloyd's ecosystem powered by data and technology.
With digital tools now embedded across our marketplace, we will build upon this momentum to look at how we combine the best features of the physical London Underwriting Room with a virtual Room – available to visit no matter where in the world you are – underpinned by technology that creates efficient, smart and collaborative ways of doing business, and better outcomes for our customers. Find out more, and get involved here.
Sharpened focus in response to COVID-19
- Building a next-generation of PPL
- Delivering a digital coverholder solution
- Fast-tracking claims process improvements
- Building the data and technology capabilities to underpin the Future at Lloyd's ecosystem
Progress to date
The latest news on:
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 next generation PPL which will form part of the complex risk platform, a digital coverholder solution and claims process improvements. We're also building on the data and technology needed to support them.
Additionally, foundational work for how the Underwriting Room in London works virtually will be explored. This idea has been fast-tracked in response to COVID-19 in order to better enable brokers and underwriters to connect and trade as we navigate the challenges of remote working in lockdown.
Our progress to date
In a new video blog, released 28 May 2020, Future at Lloyd's Executive Sponsor Jennifer Rigby and Lloyd's CEO John Neal outline the progress we've made. This includes an update on how COVID-19 has impacted the Future at Lloyd's, as well as the next steps towards finalised our detailed plans for the remainder of 2020.
A clear plan for the remainder of 2020
Due to COVID-19 we are currently re-planning our plans for Q3 and Q4. Our next operational update will be coming in July 2020, where we will give you that detail. In Q4 2020, we will also be giving a full update on the plans for the Future at Lloyd's in 2021.