View this article online: https://www.insurancejournal.com/news/international/2006/06/21/69700.htm
The Lloyd’s Website (www.lloyds.com) features an interview with Stephen Matanle, global markets leader at Marsh and Chair of the London Market Insurance Brokers’ Committee (LMBC), about the challenges facing today’s insurance brokers.
“We need to deal with the efficiency of this market and I am very optimistic – there is now a real appetite for change,” he commented. “We have all the signs that the market will achieve its agreed contract certainty target. The latest plans to move to a single contract document and eliminate the post inception checking process offers very significant efficiency gains for the market as a whole.”
He also observed that Lloyd’s is already one of the insurance markets of choice, a reputation that would certainly benefit from more streamlined and efficient processes. He adds that Lloyd’s, as a subscription market, provides a flexible approach to underwriting which is highly valued by clients. “Brokers like the fact that they can go to Lloyd’s and get a decision which will provide a risk solution for a client very quickly
The full interview is available on the Website.