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London Market Group establishes new digitalisation council

London Market Group establishes new digitalisation council | Insurance Business UK

London Market Group establishes new digitalisation council

The London Market Group (LMG) has created a data council, which aims to push the digitalisation of the group through commitments to using standardised data.

“The creation of this body is a critical step in taking the London Market to the next stage of its digital development,” said Lloyd’s Market Association CEO Sheila Cameron, who has been tapped to chair the council.

According to the LMG, the council will drive the adoption of the following:

  • Data standards in conjunction with ACORD
  • Placement and claims in the London market’s Core Data Records (CDR), which is the critical transaction information that will drive an increase in automated processes
  • Computable contracts
  • Data assembly processes across the market
  • Application Programme Interfaces (APIs)

The members of the new Data Council are:

Broker community:

Clyde Bernstein

Head of Broking, GB & Global Head of Broking Technology

Willis Towers Watson

Greg Collins

CEO

Miller

Richard Dudley

CEO Global Broking Centre

Aon

Jonathan Prinn

Chief Digital Officer

Inver Re & Chair of the Data Council’s Technical Group

Barnaby Rugge-Price

Chairman

Howden Broking

Dominic Samengo-Turner

CEO Marsh Specialty UK

Marsh

Insurer community:

Hugh Brennan

CEO Renaissance Re Syndicate Management

Renaissance Re

Paul Greensmith

Global Head of Specialty

AIG

Phil Hobbs

Deputy Managing Director Liberty Specialty Markets

Liberty

Paul Jardine

Chairman

Asta and Chaucer

Kate Markham

CEO Hiscox London Market

Hiscox

Rob Wilson

CUO Chubb Global Markets

Chubb

Lloyd’s and other communities:

Sheila Cameron

CEO

LMA

Christopher Croft

CEO

LIIBA

Steve Hicks

Head of Data Products

Lloyd’s

Sue Jakobek

CEO

PPL

Bob James

Market Transformation Director

Lloyd’s

Dave Matcham

CEO

IUA

Chris Newman

Managing Director

ACORD

Jen Rigby

COO

Lloyd’s

Peter Spires

General Counsel

Lloyd’s

Caroline Wagstaff

CEO

LMG

 

In a release, LMG noted that the broker community has nominated one other member who has yet to be confirmed. It also said that DXC’s Joint Ventures’ nominee has also yet to be confirmed.

Cameron said that the council will meet for the first time in January next year to begin establishing data standards and agreeing on the core data record.

Read more: London Market Group confirms Caroline Wagstaff as permanent CEO

In September, LMG appointed Caroline Wagstaff as its permanent CEO. Her appointment came after she had served the executive position in an interim capacity for six months prior.