Thread by @LloydsofLondon

Not long to go now! We’ll soon be live tweeting at the Future at Lloyd’s Blueprint One launch from 16.00 BST. There will be speeches from our Chairman @BNCB, CEO John Neal and Director of Performance Management (PMD) Jon Hancock.

Please join us.

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@BNCB .@BNCB ‘Thank you for coming today to the launch of the Future at Lloyd’s Blueprint One.’

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‘.@BNCB People feel very passionate about the Lloyd’s market and really want us to succeed. That is important, because change of this scope and ambition can only be achieved if everyone supports the vision and is committed to delivering it.’

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@BNCB ‘.@BNCB On 1 May this year, we published a prospectus that distilled our consultation and feedback and set out a vision of how a future Lloyd’s might look.’

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@BNCB ‘@BNCB You’ll remember we proposed six ways we could achieve this re-purposed Lloyd’s – a complex risk platform, Lloyd’s risk exchange, syndicate in a box, a claims solution, a capital solution, a services hub and we asked you what you thought of these ideas.’

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@BNCB ‘.@BNCB Over the past few months we have used everything you have told us and fed it into the design labs for each solution. They have spent many hours working with the market to develop and test the ideas we are announcing today.’

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@BNCB ‘.@BNCB ‘Blueprint One is deliberately ambitious. We asked you last year how we should change, you told us to be bold. You said this is Lloyd’s best opportunity to build a relevant and successful market for the future – and that we must seize it. Today we are.’

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@BNCB PMD Jon Hancock ‘The six solutions that we’ve published today in Blueprint One make up this new marketplace – and they are supported by some really strong foundations to ensure these plans become a reality.’

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@BNCB PMD Jon Hancock ‘To ensure each of these solutions is successful, it is vital that the Future at Lloyd’s is built on the strongest foundations.’

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@BNCB PMD Jon Hancock ‘One of the key priorities for Lloyd’s, and for the Corporation, will continue to be to maintain the highest standards of underwriting, to protect our customers market reputation and to create a safe place for innovation.’

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@BNCB PMD Jon Hancock ‘The Future at Lloyd’s will be a data-first marketplace, capturing high- quality data as early as possible in the lifecycle of a risk.’

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@BNCB Lloyd's CEO John Neal ‘The opportunities are huge, but there is the little matter that Jon touched on of how we get there … and it’s hard! If it was easy it would have been done already.’

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@BNCB CEO John Neal ‘We operate a complex, global marketplace, with many thousands of insurers, coverholders, MGA’s and brokers serving, literally, millions of customers around the world.’

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@BNCB CEO John Neal ‘Our customer base and their risks covered are diverse and complex, across most of the countries of the world. And in addition to the complex risks Lloyd’s is rightly famous for, we also cover many millions of more standardised risks.’

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@BNCB CEO John Neal ‘We will be realistic and pragmatic, we will be flexible and collaborate with our market. We will phase the implementation of our plans and work in and adopt a carefully structured and managed approach to planning, execution and communication.’

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@BNCB CEO John Neal ‘Over the next 6 months we’ll be running what we’re calling Transition, thinking through exactly how we will execute on the strategy.’

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@BNCB CEO John Neal ‘We’ll construct detailed business cases and by February 2020 we will share comprehensive plans for how we will take this forward.’

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@BNCB CEO John Neal ‘We will offer easier access to the market for all concerned and products to cover all the major risks our customers face.

We will offer faster payment of claims and generally aim to deliver an outstanding customer experience.'

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@BNCB CEO John Neal ‘In terms of cost, we believe digitisation, automation and simplification of processes, coupled with end-to-end straight through processing, could reduce the cost of placing some non-complex risks from 40% of premiums to somewhere approaching 25%.

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@BNCB CEO John Neal ‘There is MUCH more detail in the Blueprint – 150 pages of it – so read and digest it over the coming days and weeks and think about how you can help us.’

Read our Blueprint here: futureat.lloyds.com/blueprint-one/…

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@BNCB CEO John Neal ‘Collaboration is the key tenet of the Lloyd’s market, and your continued involvement is critical to making a success of The Future at Lloyd’s.

Thank you all for everyone's work.'

Download our Blueprint: ow.ly/olw450wwRoK

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