Lloyd’s of London shelves plan for electronic exchanges
Insurer will work with existing platforms already used by the market to improve digitalisation
05 November 2020 - 15:33
London ¯— Lloyd’s of London has dropped ambitious plans to set up its own electronic exchanges and will work with other existing platforms to speed up the underwriting process and cut costs, the commercial insurance market said on Thursday.
Lloyd’s said last year that it was planning to launch two electronic exchanges covering simple and complex insurance deals. In February it piloted the exchange for simpler insurance transactions...
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