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About Group Procurement at Lloyd’s

Group Procurement team

Lloyd’s has a dedicated Global Group Procurement team who have extensive experience in purchasing goods and services competitively, fairly, and at the best possible price and manage the requirements for the Corporation. 

Our procurement process

To ensure we are identifying and working with high quality suppliers, we follow strict sourcing processes. All our sourcing activities are run via our e-sourcing platform.

Lloyd’s e-procurement tool

As part of Lloyd’s ongoing journey to develop and enhance third-party risk and performance management, we use Workday Strategic Sourcing to carry out all our procurement activities. All suppliers (if invited to take part) must register on this platform. 

  • All sourcing and supplier management activities will be managed via Scout RFP
  • Throughout the term of your engagement with Lloyd’s, you will be requested to review and respond to various performance and risk management questionnaires typically these will be run on an annual basis
  • User guides and technical support are available on the website to support you through this process Lloyd’s Group Procurement team members are also available to provide support and answer any questions you might have
  • There is a message centreto streamline supplier communication; this will be our primary method of communication

Sustainable procurement

Lloyd’s mission is to deliver an effective and sustainable approach to all third-party sourcing and supplier management, with a clear purpose to support our Protect, Promote and Provide principles while achieving maximum value, minimising risk and driving efficiencies to invest in the future.

Please see our vision and our expectations from our suppliers in our Supplier Code of Conduct, which can be found in the Useful Links section at the bottom of this page.

Lloyd’s ESG report

Lloyd’s first Environmental, Social and Governance (ESG) Report 2020 sets out our plans for accelerating the transition to a more sustainable insurance and reinsurance marketplace. The report builds on Lloyd’s existing ESG work with a comprehensive market-wide strategy that aligns with the United Nations’ Sustainable Development Goals and supports the principles set out in the Paris Agreement. The report also highlights ongoing work to drive culture change across the Lloyd’s market. This includes commitments to meaningful and measurable actions to build a more inclusive working environment such as establishing Lloyd’s Culture Advisory Group and the setting of gender targets during 2020, and ethnicity targets to be announced in 2021.

Modern Slavery Acts Statement

We are committed to ensuring that there is no modern slavery or human trafficking taking place in our supply chains or in any part of our business. We continue to implement appropriate policies to support our commitment to act ethically and with integrity in all our business relationships.