International brokers Marsh and Willis along with four major London-based insurers, ACE European Group, Amlin, Beazley and Wellington, became the first companies to sign letters of intent to use Lloyd’s new Project Blue Mountain.
Lloyd’s bulletin described the Project as enabling “commercial lines trading partners to communicate risk data electronically for quicker and higher quality business completion, greater productivity and profit via an adaptable, accessible and secure business platform.” It added that when the system becomes fully operational later this year it “will do so under the brand name of Kinnect. The Kinnect name and logo will replace the project title of Blue Mountain when the business commences live operations.”
Ashok Gupta, Chief Executive of Project Blue Mountain, stated:
“Today marks the beginning of the next phase of pre-roll out activity for Project Blue Mountain. Last year we designed and built the platform in conjunction with partners, including HP and CGI. Now we are preparing to roll out the brand and start implementation with a targeted group of users. We will work closely with these six companies to help them implement more efficient processes and to fine tune our own offering.
“We’re delighted with the level and quality of customer support we’ve received to date. Recent letters of intent reflect we now have a working platform able to deliver significant benefits in improving the effectiveness and efficiency of data transfer between established trading partners.
“Business process is a long-standing problem for the global insurance industry. We believe Project Blue Mountain is part of the industry solution.”
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