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Lloyd’s places 58 under consultation as Blueprint Two work streamlined

A photograph of the Lloyds Building in London from ground up

Up to 58 people in the Future at Lloyd’s team are facing redundancy after Lloyd’s initiated a consultation process with staff working on its Blueprint Two modernisation reforms, Insurance Insider can reveal.

This publication understands that the consultation involves full-time employees, including those in leadership positions, as well as individuals who are employed by Lloyd’s via fixed-term contracts.

Full-time staff roles within the consultation’s scope include those working on design elements, such as the interfaces of digital platforms, as well as those working on engagement channels including the virtual underwriting room – which this publication recently revealed will close next month.

The consultation is the latest development in a modernisation programme that has so far been hit by delays to some of its workstreams, while Lloyd’s market firms have been waiting for clarity on how to prepare and transition to the new digital platforms being developed.

The consultation underlines the enhanced and much-streamlined strategic focus at Lloyd’s on four areas of delivery under Blueprint Two – digital processing, data and data standards, delegated authority, and placement and connectivity – as it works to execute on modernisation.

It will also involve the most significant staff changes since Lloyd’s announced the exit of former chief digital officer Louise Smith in September. Bob James, transformation director, is now overseeing delivery of the digital solutions.

Separate to the 58 positions under consultation, Insurance Insider understands that a group of around 50-70 full-time employees will still be working in-house on Blueprint Two on an ongoing basis, while another group of around 15-20 will work on the joint venture with DXC.

Earlier in the summer, Lloyd’s, the Lloyd’s Market Association and the International Underwriting Association agreed heads of terms with DXC on a partnership to deliver accounting and settlement services under Blueprint Two.

50 data and technology specialists

A spokesperson for Lloyd’s said: “We have conducted a review of the Future at Lloyd’s programme to ensure that we have the right resources in place to deliver on our Blueprint Two commitments to the market on time and in full.

“Our resource remains focused on execution of the four digital solutions: digital processing, data and data standards, delegated authority, and placement and connectivity.”

Lloyd’s is set to lose more experienced employees through the consultation, but the Corporation did confirm to this publication in July a recruitment drive to hire around 50 data and technology specialists this year.

Amid the staff changes, this publication understands that plans are moving forward to establish the new data council, which will comprise members from Lloyd’s, London market trade bodies and firms, to oversee elements of Blueprint Two including governance of the core data record.

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