- Newslink Global Insurance Trends-The Week
- Lloyd's first half aggregated market profit £0.6bn-combined ratio improves, investment income drops
- Standard & Poor's reports on Monte Rendez-Vous
- LMA launches new report-"InsurTech-led change in the Lloyd’s Market"
- Willis Towers Watson report says 71 InsurTech funding transactions in second quarter a record but $579m invested down 20%
- Over twenty insurance sector start-ups set to unveil their intention to form an alliance known as Insurtech UK.
- Accenture survey indicates financial services firms are closing the gap on cyber attacks, having stopped four in five of all breach attempts last year expired
- RMS and Cambridge Centre for Risk Studies(CCRS) announce the release of a new Data Definitions Document v1.0 for 14 different classes of insurance exposure which covers an estimated $554tr of total insured limits globally expired
- Willis Towers Watson announces Property Quantified, a first-of-its-kind technology platform to help organisations analyze potential property losses across a global portfolio with the aim of optimizing risk transfer and insurance strategies expired
- CII reduces gender pay gap expired
- ABI commissions new report-"Tackling the gender seniority gap: what works for the insurance and long-term savings industry" expired
- SSP becoms a signatory of both the Inclusive Behaviours in Insurance Pledge and the Tech Talent Charter expired
15th April 2018
London Market Group(LMG) launches LIMOSS to source and manage the portfolio of market services-Molineux Managing Director
The London Market Group announced on Friday the launch of London Insurance Market Operations & Strategic Sourcing(LIMOSS) led by managing director, Patrick Molineux. LIMOSS has been established to source and manage the portfolio of market services which the London Market has built as it modernises its processes.
Chris Beazley, ceo of LMG, comments “Modernisation is one of the four LMG workstreams, and is focused on making London an easier place to do business. The market services that will deliver on this goal need a professional organisation to source and manage them, and LIMOSS will provide just that.”
David Bendle, coo of Chaucer and chairman of LIMOSS said “As the London Market moves from building market services through the London Market Target Operating Model(LMTOM) to running them for the benefit of carriers and brokers, it needs a single permanent team to define and execute its sourcing strategy, oversee the services, manage the service providers and liaise with carriers and brokers.
We are delighted to have Patrick on board to build and lead the team. His thirty years’ experience of insurance IT and business process services, as well as his time with CSC where he oversaw the acquisition of Xchanging, is invaluable in establishing LIMOSS and shaping how it can source and operate these key market services.”
Molineux added “The market services which the London Market has and will develop offer a tremendous opportunity for London to lead the world in commercial insurance and re-insurance technology, as well insurance product innovation. Automation of basic processes and the connection of diverse systems will free London’s insurance experts to focus on the value-adding activities such as face-to-face negotiation that make London unique. Whether the services are around placing, data or messaging, LIMOSS’s objective is build a team with the right skills to get the best from service providers and deliver a high quality service to the brokers and carriers for whom these services will be increasingly important.”
LMG Trends(72 articles)