26 November 2015

LMG launches first ever, market wide skills gap survey

The London Market Group, in association with Deloitte, has launched the first market-wide survey, designed to identify existing skill gaps and gain better insight into the talent requirements of the market of the future. The survey has been designed with Deloitte, and is being
distributed via the LMA, LIIBA and the IUA to CEO’s, Executives, senior management, HR, IT and other selected people within the associations’ member companies.

The electronic survey, launched today, will be augmented by a series of face-to-face qualitative interviews that Deloitte is undertaking with members of the LMG board and other selected senior figures from across the market. The results of the work will be published Q1 in 2016.

Bob Stuchbery, President International Operations, The Hanover Insurance Group and Chair of the LMG Talent & Diversity workstream said: “This is a vital piece of work for the future of the London market as it seeks to compete successfully for talent both nationally and internationally, and we are delighted to have Deloitte supporting the project. We need to understand where current skill gaps exist and gain a better understanding of future talent requirements. Then armed with this information we can then develop strategies to plug the gaps and develop the talent we need going forward.”

Colin Gleeson, Director of Insurance Strategy at Deloitte said: “It is a privilege for us to be involved in such an important piece of work, and one that achieves a market wide view on the topic for the very first time. Having the right people is an essential part of London remaining the world’s leading insurance centre, and having a diverse talent pool is a prerequisite to its future success. We look forward to analysing the results, and understanding what those future needs might be.”

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Notes to Editors

For further information please contact Caroline Wagstaff, Luther Pendragon: 07767 794208

If you would like to take part in the survey, please complete the online survey by Friday 18 December 2015.

About the London Market Group
The London Market Group (LMG) is the senior body helping create and articulate the vision for the way insurance is transacted between members of International Underwriting Association; Lloyd’s Market Association and London and International Insurance Brokers’ Association (”the (London) market”). The LMG is made up of senior representatives of each market constituency – International Underwriting Association (IUA); London and International Insurance Brokers Association (LIIBA); Lloyd’s Market Association (LMA); and the Corporation of Lloyd’s.

The LMG will oversee all elements of the market mechanism and identify areas where proactive action can improve London’s competitive position. The four constituents of LMG will have primary responsibility for bringing issues that LMG might address to its attention. LMG will agree how best it might exercise its remit for each issue as it is raised.