Placing Support

Electronic support for placing does not replace the face-to-face negotiation of business which is a key strength of the London insurance market and an important aspect of the transaction of the large, complex and specialist risks for which  London is renowned. However, electronic support for placing opens up opportunities to improve customer service and increase the efficiency of the placing process by using face-to-face negotiation more selectively - where it really adds value - and by transferring data and documents electronically rather than solely in paper form.

Project management

LMA is providing support for this London Market Group work stream. For more information and resources supporting the work, please visit LMG's website.

Reporting

As part of this project, the market has implemented the use of electronic processes to support endorsements across all classes.  The LMA receives reports from Lloyd’s summarising progress with adoption showing message volumes as well as response times at a market level.  Reports are available to Full Member firms only via the links below (which will be updated monthly - about mid month - as new reports become available).  Please log on to access these reports.  A matching set of reports is provided by the IUA and LIIBA to their members.

• Market Summary Report
• Consolidated Volumes Report (message volume data for LMA, IUA and LIIBA member firms)
• Consolidated Response Times Report (response time data for LMA and IUA member firms)

More information is available from Peter Holdstock (LMA).