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Lloyd’s, London Market Insurance Companies and DXC Technology partner to transform the technology and digital processing that powers the world’s largest insurance marketplace
27/05/2021
Lloyd’s, DXC Technology (NYSE: DXC), the Boards of the Lloyd’s Market Association (LMA), and the IUA (International Underwriting Association) have signed new Heads of Terms which will support the ambition set out in the Future at Lloyd’s Blueprint Two to build the world’s most advanced digital and technology led insurance market place.
The parties confirmed that this new arrangement followed many months of discussion, product development and early solution workshops that will provide accuracy, speed and processing power to the London insurance markets. The new technology and digital processing capabilities will support the ambition to allow a customer to get cover more quickly and support faster claims payments.
Association of Average Adjusters champions highest professional standards amid challenges of an “extraordinary year”
At the Association of Average Adjusters recent virtual annual general meeting, the over-riding message from chairman Michiel Starmans was that “the association has continued vigorously to serve the marine market and support its members professionally in the face of a most extraordinary year with the Pandemic putting nearly all Association events on hold.”
Mr Starmans said: “The committee of management has continued to undertake the day-to-day business via virtual meetings hosted on Zoom. Although not as pleasant as actually meeting up in person, it has at least allowed us all to see each other and discuss ongoing matters. I very much hope we can all meet in person in the forthcoming 12 months.”
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Digital Transformation Vital to Keeping London Market Competitive: Survey May 17, 2021
Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying processes to enable processing without manual intervention as their highest strategic priority.
An online survey, together with a series of in-depth follow up interviews, were conducted by the IUA in association with Credera, a consulting firm focused on strategy, transformation, data and technology. The results have been compiled in a new report titled “Technology Trends and Innovation.”
The report identifies innovation as a key to future success and promotes moving away from ad-hoc trialing of new ideas to a more rigorous, structured approach.
09-02-2021
Reinsurance broker Guy Carpenter & Company has appointed a new managing director and global co-head of cyber and a new global co-head of cyber.
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