The modernisation programme and other developments have delivered significant changes to the way the London market processes business. The purpose of this project is to revisit the core market operating model in the light of this and agree key future processes and central services that will ensure we continue to deliver the optimal customer experience. The aim is to design a model that will maximise the reduction of risk and costs and the increase of processing efficiencies in the market. This will ensure that London remains the market of choice for global insurance business.
The current London market operating models have been in existence for many years. Advances in business approach and technology mean that some of the processes are not functioning as efficiently as they could. This is set against a backdrop of increasing competition from overseas markets. Additionally the market is looking for the ability to exercise a choice in service provision. To date, modernisation projects have focused on making improvements to the existing market processes. This project aims to redesign the optimal process without being constrained by how things are currently done.