As part of its overall efforts to modernize the London insurance market and make it easier to do business with, in 2017 the market asked a simple question:
Could a new, more effective, significantly lower cost operating model be created for premium and claims processing between brokers and carriers using emerging innovative technologies?
In response, the London Market Target Operating Model (LMTOM) program commissioned a feasibility study to craft a vision of how such a model would work and define the business case for implementing such a model. This study was completed last year, and the answer was an unequivocal ‘yes’. In March 2018, the market released a white paper that outlines some of the key findings of that study.
Finserv Experts managing director Areiel Wolanow served as the solution architect for the study, and was one of the authors of the white paper. You can download a copy and learn about the London market’s vision here: