Digitisation of the Lloyd’s Market drives the priorities of the LMA's Market Operations team. Whether supporting and influencing the Future at Lloyd's or assisting Members in getting value from prior Market-wide investments, the LMA sees the realisation of greater inter-operability and straight-through processing as essential. We support the Future at Lloyd’s initiative by influencing data standards and quality assurance, encouraging API solutions enabling seamless flow of reliable data across counterparty and service-providers' platforms.
We are continuously evaluating Members' central service needs, to leverage scale economies, and to simplify, standardise and automate processes and practices across the market in ways which benefit customers and contribute to more efficient operating models for our Members.
The Market Operations Team works closely with the Corporation of Lloyd's, other London trade associations, LIMOSS, the market-owned company which sources and manages the supply of cross-market services, and key suppliers to our Members to assure the quality, cost effectiveness, performance and co-ordinated evolution of all central services.
"Our priority is to support digitisation of market
practices. We are working to make straight-through processing a reality, and to
learn lessons from past efforts at automation. We are using our knowledge and
our influence to shape the Future at Lloyd's conversation, solutions and
implementation roadmap in the interests of LMA members."