Syndicate in a box
A new way to bring innovative new syndicates into the Lloyd’s market and give them the best chance of success.
What it includes
- A way of entering the market to prove a business proposition over an initial three years, that gives applicants the best chance of success
- A transparent set of qualifying criteria so that applicants understand whether they fit
- A clear and streamlined entry process to enable approval within three months
- Specific rules of participation to balance opportunities and constraints
- Quarterly review and annual assessment carried out by the Corporation to ensure that the business remains accretive, profitable, and delivers to its original business plan
- Access to the Lloyd’s services hub and integration with other Future at Lloyd’s solutions to enable syndicates in a box to operate efficiently
What will be delivered in Phase I
From the beginning of 2020, a live syndicate in a box pilot will be operating under the new conditions and the Corporation will start considering applications for new syndicates in a box. During 2020, the Corporation will assess which aspects of the new entry process should be applied to all new syndicate entrants in the future.
See chapter 6 of Blueprint One for details of syndicate in a box.