23rd January 2022
Ian Gibbard, London Market Strategy Lead at Guidewire Software, comments on the latest announcements by Lloyd's on Blueprint Two:
“After a period of relatively little news, the change of leadership of the Blueprint Two project in the same week that the market announced it would be moving to AWS may suggest that the phony war on innovation is over and that real change is about to take place. With the right impetus, this is an opportunity for the market to make meaningful strides forward in its transformation efforts.
Obviously, there are concerns about going too far too fast, but it should be a short-to medium-term priority for Lloyds to not only create a new architecture in the cloud but also sunset the existing architecture, instead of maintaining it indefinitely. In doing so, they could create a virtuous feedback loop whereby carriers invest time in making sure the new system works for them as it is built, instead of coming to it in the future and finding fault with it.
That the IUA supports these changes is really important. London is one part of many insurers’ business, and it is important for them, and for the place of the London Market, that there are not unnecessary technological impediments to global teams working together. By moving to AWS, the market appears to be addressing this issue which is great to see.”
Guidewire Trends(450 articles)
Lloyd's Trends(2,748 articles)