Lloyd’s Hires Consultant for ‘Brand Name’

Lloyd’s has taken an additional step to try and cash in on what is arguably the best known name in global insurance.

News reports (compiled by Reuters and Yahoo) note that the 300 year old London market has hired the branding consultancy specialists Saffron, headed by marketing guru Wally Olins, to try and cash in on that famous name.

The article quoted Julian James, Lloyd’s director of worldwide markets, as comparing Lloyd’s to Oxford University in that everyone knows the name, but the individual insurers who make up the Lloyd’s market tend to provide information on themselves, and not on Lloyd’s as a whole.

Olins and his company will be charged with finding ways to correct the situation.