THE FUTURE of the Lloyd’s Exchange is expected to be a hotly debated topic among delegates attending the inaugural Insurance Day Technology Forum later this week in London.
There has been a flurry of announcements regarding Lloyd’s electronic messaging service in recent days, culminating in the news last week the three largest global broking firms – Aon, Marsh and Willis – had given their support to an important stage in the market modernisation process by agreeing to pilot the exchange for endorsements using the latest version of the Acord standard.
The exchange will be the subject of a panel discussion taking place during the morning of the one-day event, which will be moderated by Roy Laker, Acord’s London office vice-president.
Laker will be joined by Trevor Maddison, the Lloyd’s Exchange business implementation manager; Luke Robertson, partner in the insurance practice at IBM; Andrew Muir, SWIFT’s insurance programme manager; and John Bissell, head of operations at broker Miller.
Miller was recently involved in the first endorsing and binding of a new risk using the Lloyd’s Exchange in an agreement with Brit Insurance. The panel discussion will be preceded by an opening keynote address from Brit’s newly appointed chief operations officer, Malcolm Beane. Beane will explain what this market first means for Lloyd’s.
The chairman of the London Market Group, Barnabas Hurst-Bannister, and the head of market operations and North America at Lloyd’s, Carl Phillips, will provide the other keynote speeches of the day.
Beyond the Lloyd’s Exchange, there is much more for tech- enthusiasts to enjoy and debate.
The chief executive of the International Underwriting Association, Dave Matcham, will be moderating a Solvency II panel discussion that will tackle the issue of convincing boards to invest in the technology required to ensure a seamless implementation of the framework directive by the deadline of 2012.
Matcham will be joined on the panel by Stephen Ross, partner at Deloitte; David Russell, director of risk and governance at Barbican Insurance; and Anthony Williams, chief risk officer at Hardy Underwriting.
Meanwhile, the gold sponsor of the Technology Forum, Scyllogis, will host a discussion entitled: “Straight-through processing – the search for the Holy Grail?”
Scyllogis co-founder, Colin Whickman, will moderate a panel featuring: Graham Card, executive director of Willis; Kent Chaplin, head of claims at Lloyd’s; Simon Cooper, chief operating officer of Atrium; and Stuart Willoughby, claims director, Markel.
The final panel discussion of the day will see the focus fall on electronic trading. The Lloyd’s Market Association chief executive, David Gittings, will lead what is sure to be a lively and controversial debate with Mark Berry, London general manager of XL Re Europe; Alex Letts, chief executive of RI3K; Ian Summers, director of change strategy at Aon Benfield; and Roger Townsend, managing director of Xchanging Insurance Services and Claims Services.
The Insurance Day Technology Forum will take place at Dexter House in London on November 26. For more details on the event, which will be chaired by the head of the London Market Group secretariat, Christopher Croft, visit www.insuranceday. com/techforum
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