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TOM

London Market Target Operating Model (LMTOM) wind down

27.09.19

27th September, 2019 – The Board of the London Market Group (LMG) confirmed today that the Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions.

Clare Lebecq, CEO of the LMG commented “The LM TOM has worked closely with the market to successfully deliver PPL as the world’s first electronic placing platform for insurance, simplified delegated authority processing, and has delivered other market solutions and infrastructure including structured data capture, most of which are in “run” mode now and should reduce the complexity and cost of doing business.”

“Further development of these solutions will take place as part of the Future at Lloyd’s – although usage will still be available across the entire London Market. The extensive work already completed on PPL and DA SATS, the delegated authority platform, will be taken forward as part of the developments that Lloyd’s will release in its Blueprint.

“I’d like to thank the TOM team and the many market practitioners for their strong support through the process, and especially Adrian Thornycroft, its Programme Director, for his energy, tenacity and commitment in delivering a substantial campaign of change over the last four years. We wish him all the best for the future.”

The LM TOM is one of the six “growth and modernisation” workstreams of the LMG.

ENDS
For more information please contact:

Caroline Wagstaff, Luther Pendragon | Tel: 020 7618 9158

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