NTT DATA supports Lloyd's of London in preparing insurance brokers for digital transformation | NTT DATA

Wed, 09 November 2022

NTT DATA supports Lloyd's of London in preparing insurance brokers for digital transformation

London, UK, November 9th 2022– NTT DATA UK&I, a world leader in digital, data and technology services, has announced that it has produced The Blueprint Two Foundational Playbook for Brokerson behalf of Lloyd's of London, to digitally transform the London Insurance Market.

In August 2022, NTT DATA worked with the London Markets Association (LMA) to produce The Blueprint Two Foundational Playbook for Managing Agents. The document was designed to provide Managing Agents with a comprehensive and structured approach to understand and support their planning for the adoption of Blueprint Two. Following on from the initial launch of the Managing Agent playbook, NTT DATA has now supported Lloyd’s of London and the London & International Insurance Brokers’ Association (LIIBA) in designing a second playbook, specifically tailored for brokers.

James Livett, Associate Director at LIIBA, and Neil Cooper, Head of Broker Engagement for Blueprint Two, commented: “Following the publication of the LMA Foundational Playbook for Blueprint Two, feedback from the LIIBA membership requested a Broker specific Foundational Playbook to be created. To that end we have worked extensively with several LIIBA members, the Blueprint Two team and the team at NTT DATA to produce this artefact.”

Blueprint Two represents the most ambitious and complex undertaking to transform the London Market operating model ever attempted. The improvements outlined by the industry roadmap aim to reduce operational costs for brokers by reducing manual rekeying and queries. It also enables brokers to align their processes across their Lloyd’s and Company Market operations, as well as reduce claim disputes and speed up claim payments, resulting in better service to policyholders.

Where Blueprint Two describes the systems and processes that will deliver the ambitious vision for the future of the market, the new Foundational Playbook is focused on helping brokers to plan for their implementation, as well as helping them understand the benefits. It has been designed to share consistent insights and guidance on how brokers can achieve ‘on-time' readiness. Moreover, it informs and corroborates an individual broker’s own understanding of the changes required, enabling decision-making and planning for the next two years. As a result, the playbook will be instrumental in ensuring that the changes suggested by the Blueprint Two roadmap are adopted across the industry, by combining the expertise of Lloyd’s with the extensive reach of NTT DATA UK&I.

Cassandra Vukorep, Head of London Speciality at NTT DATA UK&I, stated: “Following the success of the Playbook for Managing Agents, we were delighted to work with Lloyd’s of London and LIIBA to provide brokers with both a solid understanding of Blueprint Two and a streamlined strategy to implement before adoption. Our ambition is that Blueprint Two will achieve a higher level of efficiency for managing agents and brokers, as well as bring about positive change for the industry.”

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