With a change at the helm, is John Neal's view achievable, acceptable and reasonable? Does it "productise" Lloyd's too much, ignoring the middle complex but every day features of this niche market?
In a world where solutions do exist and have been implemented in other industries why is there a mismatch between the "What we would like is..." and the commitment to get it done?
Lawrence King of Charles Taylor touches on some of his observations of the market's impatience; but is there plenty of noise of this impatience, but a reality of caution and hestitance?
At Morning Data we are striving forward with our 30 year commitment to this market. To offer cost effective flexible solutions, bringing together all the elements from quote and bind, product building and electronic placing; policy, document, accounts, cash and claims management - all landing on our clients desktop or mobile device in a single version of the truth - a resilient system of record, to free up the human to apply their skills in world leading client engagement and service.
The market is facing many challenges including rock bottom rates, increasing loss ratios and over inflated costs driven by manual process, rekeying, rework and inefficiency. It knows that it must change but hasn’t been able to break away from the ‘business as usual’ methodologies. This is no longer sustainable and if London is to survive in an increasingly competitive global market, the time, as John Neal emphasises, has to be now.