Lloyd’s launched it’s second interactive guide on Friday 27th January providing an update to the market on the solutions outlined in Blueprint Two and a roadmap with the key dates and actions required by the market.
We've outlined 3 key takeaways;
1. Data standards remain at the heart
The Core Data Record (CDR) data standards remain at the core of the Blueprint Two ‘better, faster and cheaper’ vision. The CDR denote the critical transactional information critical to drive automated downstream processes across the London market.
2. Detailed 2yr roadmap laid out:
The interactive guide lays out a detailed roadmap with milestones of when solutions and changes will be delivered to the market and what action the market needs to take to prepare for them between Q1 2022 and Q2 2024. The roadmap aligns to the two major journeys through which the majority of business at Lloyd’s flows- Open market and Delegated authority journeys
3. Interdependencies requires a coordinated approach:
The roadmap requires collaboration with multiple parties including PPL and DXC Technology (the latter, who it has recently signed a contract with to build the ‘digital engine room’) to drive transformation across the marketplace