Lloyd’s to unveil Blueprint One 2020 progress and delivery goals

Lloyd’s has confirmed its 2020 priorities for the delivery of phase one of the Future at Lloyd’s Blueprint One. These include working with Placing Platform Limited (PPL), the London Market's electronic placing platform, in the development of the document-plus-data component of the complex risk platform; the coverholder onboarding solution (Chorus) as part of the Lloyd’s risk exchange; and redesigning how claims are processed to improve customers’ experience.

The Future at Lloyd's executive sponsor Jennifer Rigby said: “We have been really busy setting up the programme during transition, including resourcing finance and mobilising our work streams, so we are ready to commence our phase one activities by the end of March, like we said.

“We are going to launch a digital blueprint update on February 26 which will cover the progress we’ve made during transition, details of what we will deliver in 2020 and how that’s going to create value, including our pilots and proof of concepts, but really focusing on what the market will see and what difference they will feel in 2020. We will also cover how we’ll approach delivery, how we’ll adopt some agile ways of working, how we’ll govern the program and how we want to collaborate and continue to collaborate with the market and also with our customers.”

She said Lloyds will prioritise initiatives that will yield real tangible benefits to the market in 2020, with the areas of focus reflecting priorities expressed by the market. In addition to the work with PPL, Chorus and claims, she added that there are several important foundational and design pieces that Lloyd’s will keep moving forward in 2020.

“Those are data and technology underpinning everything, middle and back office, where people have told us that particularly accounting and settlement and some of the back office activities are an important part of what we do, and then there’s lead-follow, where we have already announced our pilot classes of business. What happens with that and how it evolves will have an impact on the other things that we do.”

She said that Lloyd’s will also focus on new solutions which are still in the discovery phase.

“We’ve talked about risk exchange a lot and we’ll be working with some market partners on developing a proof of concept around that, and then there’s the data first platform for complex risk, where we’ll be collaborating with PPL but also working with some other parts of the market to test out some ideas around that,” she said.

“Finally, there are some of the other areas in the blueprint that are actually more ready to move back into the corporation’s business as usual remit. That’s what we’re doing on capital, around the capital rules, syndicate in a box which is already up and running, services hub, where we are refreshing our existing service catalogue, and the culture and people work that runs through everything we do.”

She added that Lloyd’s is keen for people to get involved, so during transition Lloyd’s has engaged with over 200 people from across the Lloyd’s community.

“As we move into the delivery phase we want to create even more opportunities to listen, to collaborate and to get involved, so we’ll soon be launching dates for our popular show and tell sessions again, where you can hear the latest developments from the teams directly and you can share your feedback with them,” she said.