Given the size of the market and number of participants, coordinating across the market will make Lloyd’s Blueprint implementation complex, but there’s no going back. With the right approach, this is London’s best chance to lead in the digitized market.

The hurdles, however, span process, technology and people, according to Chris Carney, managing director of Verticalised Consulting. “We have a traditional marketplace, and people have traditions and habits and way of doing business that are difficult to change,” he says “This will take time and effort to change behaviours and have an automated, streamlining effect.”   

In the second installment of our five-video “Through the Lens” series with Carney and  Paul Evans, CEO and founder of Definitive InsureTech, we unpack the hard work ahead in acting on the Lloyd’s Blueprint and implementing a common standard for global brokers and data.

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