Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, has today confirmed that all London market technology vendors that interact with the existing central services have pledged their intent to introduce changes to their platforms to accommodate the new Blueprint Two solutions for the London insurance market. Blueprint Two will digitalise London market operations through solutions that will make placement, accounting and claims settlement better, faster and cheaper.
Announced in conjunction with the London Market Joint Venture, this news follows the 29 September announcement that five vendors (ACORD Solutions Group, AdvantageGo, DXC Technology, TRACE, and Verisk), representing over 80% of Lloyd’s total Gross Written Premium, had pledged their support. Today’s agreement by the organisations below means that all vendors currently known to be working with Lloyd’s existing central services have now made the same pledge:
‘We are committed to supporting our clients’ objectives in the London market in relation to working with the new digital services being developed under Blueprint Two.
While some of the details of the changes required are still to be released it is our plan, in line with our product strategy, to make necessary adjustments to our supported software products to ensure they work with the new digital services, at a minimum on a transitional basis and, where possible, on a digital basis, leveraging ACORD and API enablement.
We hope this will give our clients the confidence that we will ensure interaction with central services can be maintained and we will continue to work with our clients and the Blueprint Two Engagement Team, to ensure we understand and support our clients’ intentions and gain improved understanding of the digital services as the detail emerges on the impact to our software and our clients.’