Lloyd's vision is to be the market for specialist insurance and reinsurance, where the world takes its risk.
Lloyd's Strategy 2018-2020
Each year we assess whether current and future risks are adequately addressed, and mitigating actions in place. This assessment is made in close collaboration with the market and we publish the results in a series of rolling three year strategies.
Our strategy is broken down into six strategic priorities. Each year we adjust the activities we undertake to deliver our priorities in response to the evolving environment.
In supporting the Lloyd’s market, the Corporation’s activities are aligned to its three main responsibilities and delivered through the six strategic priorities:
- Protecting the interests of the market, mainly delivered through Market Oversight and Capital;
- Promoting Lloyd’s to its customers and other stakeholders, mainly delivered through Customers & Distribution and Brand; and
- Providing valued support services to Lloyd’s members and market participants, mainly delivered through Operations & Services and Talent.
For 2018 the focus is to respond to the challenges currently facing the market. There are four key areas of focus:
- Making market oversight more risk based;
- Making our new EU subsidiary in Brussels operational by the end of 2018;
- Finishing delivery of phase 1 of the London Market Target Operating Model and encouraging adoption of services by the market that yield business process efficiencies; and
- Launching pilot initiatives to make it cheaper and easier for customers to reach Lloyd’s, including developing ways to encourage innovation.
Lloyd's strategy is to maintain and enhance the benefits of placing business and operating at Lloyd's, thereby ensuring Lloyd's policyholders are provided with valued products and services. As such these benefits are also our strategic priorities which are summarised below: