Data Council membership announced

Dec 20^th, 2021: The London Market Group is pleased to announce the creation of its Data Council, whose purpose is to drive the digitisation of the London Market through a commitment to using standardised and high-quality data between all market participants and their clients. Specifically, it will drive adoption of:

• Data standards in conjunction with ACORD
• Placement and claims in the London market’s Core Data Records (CDR), which is the critical transaction information that will drive an increase in automated processes
• Computable contracts
• Data assembly processes across the market
• Application Programme Interfaces (APIs)

Sheila Cameron, CEO of the Lloyd’s Market Association, who will chair the Council commented:

“The creation of this body is a critical step in taking the London Market to the next stage of its digital development. When it meets for the first time in January, it will kick off a process to get data standards and the Core Data Record agreed and supported by the entire market. I am grateful for the commitment and enthusiasm that everyone has shown in agreeing to make this happen.”

View the full press release here.