Digitising the traditional
As the head of change management at Lloyd’s Market, Allen has essentially deconstructed the legendary brand Lloyd’s of London.
The world’s specialist insurance market is traditional, with a culture built around paper documents, face to face relationships and in many cases legacy technology platforms.
The impact of Allen’s work is that the Lloyd’s Market has now embraced e–placement (the electronic placement of risks) with over 70% of in scope insurance risks now being bound electronically. In a time where more and more people are working from home and want to work more flexibly, matching the technology that they use in their personal lives to the technology available in their working lives, e–placement is a huge step forward and one that has taken cross market collaboration to achieve. Allen also introduced a central digital reporting tool for the market, which is being used across the globe.
Judges recognise the legacy of Lloyd’s of London and are confident that its future is in good hands (albeit more hands than Allen’s!)
How do you hope your story will inspire others?
“Lloyd’s is now focusing on delivering a data first marketplace that enhances customer service, increases efficiency and reduces the cost of placing business in London. I’m already supporting that work and hope to inspire the market to be even braver in working towards the data first London Insurance Market. I hope that the progress made in the London Insurance Market will also inspire other sectors or countries that mass change is possible through collaboration and support.”