Technology

Executive sponsor: TBC

Business owner: Des Burke

Workstream lead: Peter Savage

What is it?

The Future at Lloyd’s technology will enable the creation of a modern, digital, easy-to-access marketplace, improving market and customer experience, driving innovation, and ensuring the seamless flow of information across the end-to-end value chain.

Our progress to date

Learn about the work we have been doing since we published Blueprint One on 30 September 2019.

How our thinking has evolved

Our current focus is on supporting the prioritised solutions (next generation PPL, Delegated Contract Manager and Delegated Compliance Manager and claims) and working with the market to put in place the right infrastructure to support future solutions across the Future at Lloyd’s. Our think has evolved through market feedback including:

  • Evolving our technology strategy to focus on solutions that are portable and based on open standards
  • Including Shared Data Platform functionality as a key component of the technology solution, with proof of concepts underway to test what will be needed
  • Prioritising the delivery of a common technology platform to meet the workstreams’ needs in delivery

How technology will create value for stakeholders

Customers

  • Simpler process for uploading information
  • Access to a greater choice
    of products
  • Faster interaction with the
    Lloyd’s market

Brokers/coverholders

  • Ability to transact electronically with syndicates
  • Improved understanding of customer needs through user-centric experience

Insurers

  • Reduced bordereaux and regulatory reporting through automation
  • Improved data quality through data enrichment and validation

Core technology components that will
be delivered to support
the workstream pilots

  • First build of the shared data platform to support the pilots
  • System-to-system integration for market participants (API gateway and APIs)
  • Security framework and standards needed for Phase I
  • Single Sign-On, to simplify the user experience while improving security
  • Test automation, providing improved quality assurance and enabling a faster pace of change
  • Cloud-hosted environments for development, testing and run, enabling faster set-up and expansion
  • Reporting and market intelligence capabilities, as needed for the pilots