Lloyd's Reaches Tech Deal To Transform Specialist Market
By Martin Croucher (January 13, 2022, 2:31 PM GMT) -- Lloyd's of London has reached a deal with U.S. information tech giant DXC Technology that will fundamentally change the way the specialist insurance market operates, the company said Wednesday.
Lloyd's said that the agreement represents a shift away from the "paper-based, analogue set of processes" that has marked the way it has operated for the past 20 years.
The company has been engaged in efforts to modernize the 336-year-old insurance market for several years. But even with the introduction of electronic trading in 2016, face-to-face meetings and traditional paper "slips" continued to constitute much of the business in the market up...
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