In 12 months the London market insurance landscape has changed dramatically, with implications for all market participants.
The TOM has been superseded by the ambitious Future at Lloyd’s initiative and Blueprint One. Questions are being asked over the technology, capabilities and skills that are required to deliver the project – not to mention the culture change to embrace the necessary innovations.
The critical need to cut costs and the drive to deliver more customer centric products and services has pushed the market to a tipping point where transformational change is no longer a ‘nice to have’ to keep customers and shareholders happy, but a ‘must have’ to survive and prosper.
Technology will be the driver of innovation and the catalyst for new products. It can facilitate improved customer service, enable more streamlined operations and deliver sustainable competitive advantage.
Now is the time to grasp the opportunities on offer and transform traditional systems and processes.