trending Market Intelligence /marketintelligence/en/news-insights/trending/F-kyMc6WkMpfstSlk87oXg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Lloyd's confirms 2019 targets for market's digital transformation

Blog

COVID-19 Impact & Recovery: Financial Industry Outlook for H2 2021

Blog

Tracking Credit Risk of a Major U.S. Retailer

Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits

Blog

Q&A: Navigating Climate Risk as a Financial Risk


Lloyd's confirms 2019 targets for market's digital transformation

The Corporation of Lloyd's confirmed its targets for digitizing the market in 2019.

All syndicates will need to write at least 40% of its risks using a recognized electronic placement system in the first quarter of 2019. In the second quarter, the bar will be raised to 50% and a quote target will be launched. Both lead and follow businesses will be bound by these requirements.

Brokers must register on a recognized electronic placement platform by June 1, 2019. Syndicates that outperform the targets will be given a rebate on their annual subscriptions.

Lloyd's will coordinate with London & International Insurance Brokers' Association to implement the targets.

The electronic platform provided by Placing Platform Limited was launched in July 2016.