The pace of transformation in businesses is accelerating and there are many emerging risks. These business transformations are precipitated by the current pandemic. The reliability and relevance of insurance and its value chain is tested and challenged.
How do we ensure the London Market remains relevant to businesses in terms of products, services and skills?
The Client Lens Workstream is engaging with businesses who rely on the London Market to transfer their risks, to understand the following:
- Critical operational adjustments made and anticipated within the business
- Risk implications and associated risk management / mitigation steps taken and planned
- Potential misalignment around disclosure and insurance coverage
- Client engagement experience with brokers and insurers through this time of risk change
- Client views on industry expertise and skills development
The research programme was kicked off with the Boston Consulting Group in September 2020 and detailed sector reports on critical risk developments, insurance implications and associated service needs will be published in 2021 to stimulate innovation and best practices in both the supply and demand sides of the London Market.
Through this research effort, the Client Lens Workstream will create a Client Advisory Community and set up a London Market Client Advisory Panel to act as a sounding board to the London Market’s strategic initiatives.
Chief Executive Officer
The LMG Board sponsor is Sheila Cameron, CEO LMA.
Workstream members are:
- Clare Lebecq (LMG)
- Antoine Guérin (LMG)
- Christopher Croft (LIIBA)
- Simon Williams (Arch)
- Martin Emkes (AJG)
- Sonia Caamano (Howden Group)
- James Martin (AXA XL)
- Caroline Dunn (Lloyds)
- Business executives from market participants nominated by the Market Associations and Lloyd’s