Electronic Distribution

As part of the Vision 2025, the objective for 2013 is to ensure managing agents and brokers are continued to be made aware of any recent changes in the e-trading platforms and hubs to ensure that th Lloyd's market can connect with all appropriate electronic trading hubs and platforms globally (via the London Message Exchange where required). This work includes regular contact with the LMA and other such relevant parties

These platforms, hubs and aggregators are simplifying wholesale insurance processes and increasing transparency in a way that requires us to be fully engaged. The initiatives are also offering Lloyd's significant opportunities to reduce acquisition costs and access new markets.

Part of the planned activities include harnessing the Corporation’s global knowledge to understand the opportunities and threats emerging through technology and sharing these findings with the market. Additionally, the Technology Library, which hosts profiles and information on key platforms/hubs and technology providers on Lloyds.com, is to be enhanced with more user friendly functionality.

Intelligence gathered in the above activities will guide further R&D work to assess costs and benefits of emerging ideas, as is happening with the current iPad and smartform projects.