Lloyd's Plans New E-Risk Exchange Amid Digital Overhaul

Law360, London (October 1, 2019, 4:30 PM BST) -- Lloyd’s of London announced Tuesday that it plans to launch a new electronic risk exchange that could process up to 40% of the 330-year-old market’s risk portfolio as it overhauls its business to focus on digital products and automation.

The plan, called the Future at Lloyd’s Blueprint One, will be rolled out in 2020 and will include a new platform to sort through claims automatically and make policies easier to take out as well as digitizing its risk exchange, the market said.

The initiative is part of Lloyd’s plan to “build the most advanced insurance marketplace in the world,” according to...

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