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Airmic praises Lloyd's "ambitious and exciting" vision

Airmic has strongly welcomed Lloyd's Blueprint One which sets out its plans to create what it describes as "the most advanced marketplace in the world".

Responding to the 100-page document, published in September, Airmic CEO John Ludlow praised its intentions: "This is an ambitious and exciting project, and Lloyd's vision should be applauded. Corporate insurance buyers, as represented by Airmic, have been calling on the insurance market to become more innovative for many years, and the report's focus on agility, technology and customer outcomes, is an important step forward.

"The commitment to a collaborative and transparent process is particularly welcome and should encourage the entire market to move with Lloyd's in tackling modernisation head on. Many of the challenges Lloyd's is addressing span the entire market and success will require everyone to work together."

Mr Ludlow added that Airmic is especially pleased to see an inclusive culture at the heart of Lloyd's vision. "It's much easier to change processes rather than culture, so this will not happen overnight, but it's absolutely right that it is core to their vision."

The publication of Blueprint One follows the unveiling of the Future at Lloyd's prospectus on 1 May 2019 and marks the first in a series of updates which will be issued at least annually. This first blueprint sets out six ideas of improved ways of working, underpinned by a heightened focus on digital, data and technology to deliver greater benefits to customers.

Over the past two years Airmic has supported a number of roundtables facilitated by Lloyd's and attended by senior Airmic members and executives at Lloyd's to discuss risk manager priorities and expectations from the Lloyd's market.

Over the next few weeks, Airmic will be consulting with its members about the proposals before it gives more detailed feedback, the association said.