London Market Update

Lunch will be available from 12.30pm, with the session starting at 1pm and expected to close at 2pm.

Learn how the London Insurance Market is fighting to retain its place as the largest and most important market in the world.

Three years ago, the London Market Group commissioned Boston Consulting Group to produce the London Matters report, looking at the competitive position of the London Insurance Market. From this, the need to develop a detailed operational vision of a modernised London Market was identified and prioritised.

This vision is being delivered through the London Market Target Operating Model (the “LM TOM”). Learn how the LM TOM adds detail to the vision of a modernised market and hear about the role of Brokers, Carriers and Market participants in delivering the target model.

With the LM TOM Programme now well advanced, understand more about the solutions that are being built and implemented to deliver simplicity and reduce costs and improve client service across the London Market.

Learning Objectives:

By attending this event, delegates will be able to:

• Gain a better understanding of the importance of the London Insurance Market and the competitive issues that it is facing
• Learn about the London Market Target Operating Model (“LM TOM”) blueprint and what is it trying to achieve
• Understand how the principle of one touch data capture aims to enhance central services
• Learn about the key market solutions being delivered by the LM TOM, including electronic placing, electronic accounting and settlement and structured data capture
• See where Brokers, Carriers and Clients fit into the LM TOM and how associated operational processes will change
• Recognise the benefits of the LM TOM modernisation programme and the issues associated with failing to modernise

Speaker Profile:

Neil Cooper has 34 years’ experience within the London Insurance Market. His first career move after leaving 6th form in 1984 was with Fenchurch Insurance Brokers as a technician in South Woodford. He was offered a role with Willis at the same time but turned them down as Fenchurch were offering £500 more per annum. However, in his naivety he failed to take into account the time and wear and tear on his MK2 Ford Capri travelling from Colchester to South Woodford every day, as opposed to just down the road to Ipswich, so in 1986 Neil made the move to the City and joined Bowring Insurance Brokers soon to become part of Marsh and McLennan. Neil carried out multiple roles in Insurance Operations and progressed to Senior Vice President for Specialty Operations, dealing with Marine, Energy, Property & Casualty, Construction, Aerospace and Kidnap & Ransom and Terrorism products. In 2008 Neil was outsourced to Capita and became the Client Relationship Manager for Capita back into Marsh. In 2010 Neil finally joined Willis as an Executive Director, again in the Operations arena. In 2016 Neil moved to Lloyd’s to become a Senior Operations Manager within Lloyd’s Global Operations. His focus has been on the London Market Target Operating Model, Brexit and management of the Lloyd’s services delivered to the market