Progress against the Blueprint Two roadmap
The second edition of our Interactive Guide charts the progress towards delivering the digital solutions outlined in Blueprint Two and includes a roadmap running from 2022 to 2024 detailing the dates and key actions organisations need to take to effectively implement and benefit from the changes.
To encourage transparency and ensure market participants are fully informed, we share an update on progress made against the major market milestones each quarter.
An overview of progress made in Q4 2022:
- DXC has made great progress on completing sequences 1 and 2 of the London Market Joint Venture build. This will provide the technology to support the digital middle and back office of the Lloyd’s and London market. Sequence one of the build, which will provide the foundational components to be used across the Joint Venture’s suite of services, will be delivered by year end 2022. Sequence two, which will provide the global premium and claims services, will be introduced to the market in Q1 2023 with the Joint Venture already approaching possible users of those services.
- Our new streamlined approach to coverholder compliance has commenced with the launch of our Lloyd’s new delegated authority approval process. As of 1 November 2022, if a managing agent sponsoring a coverholder application is meeting their expected maturity rating under the Customer Outcomes Principle, they no longer have to submit a decision paper within the ATLAS application. In 2023, we will work with market participants and the market associations to define and deliver a wider compliance solution.
- We have successfully integrated Delegated Contract Oversight Manager (DCOM) and Delegated Data Manager (DDM) which allows market users to take advantage of an automatic data flow from DCOM into DDM upon registration of a binder. Integrating the platforms reduces time to complete binder information, improves data quality to power downstream processes, and enables greater consistency between the two systems.
- We are rolling out Faster Claims Payment, with 15 managing agents now signed up to use and benefit from the solution.
- We have been working closely with all known vendors, who work with Lloyd’s existing central services, to pledge their intent to make the necessary changes to their platforms to accommodate the new Blueprint Two solutions for the London insurance market.
- In Q4, we have delivered two milestones on the roadmap, the release of enhanced DA data reporting and Faster Claims Payment FCP has been successfully released. One milestone on the Digital Gateway sandbox test environment, has been postponed as it is dependent on contractual negotiations, which are more complex than initially anticipated.
- Given the largest part of the programme execution in 2023 and 2024 is through the Joint Venture build, we will be updating the roadmap with additional detail and will publish this in early 2023.