Season's Greeting to all our friends, members and partners in the London Insurance Market and beyond, from the team at LMF - London Market Forums
During 2022 we were delighted to be able to bring so many great people together again, from almost every function across the EC3 Market, face to face and in the usual LMF way - with tons of engagement, great hospitality and with that eye for detail, only possible due to our decades of insurance knowledge.
The second meeting of the new LMF Business Architects Practice Group took place at Lloyd's and proved to be a most interesting session. Each LMF Practice Group has a blend of educational content, delivered from a subject matter expert of some kind, as well as our popular roundtable discussion, where we address a topical matter impacting the professionals around the table or the Market as a whole.
Practitioners from a number of Market firms gathered at One Moorgate Place for an LMF Underwriting Special Breakfast looking at the emerging use of Ai and Machine Learning in the underwriting process. Attendees heard initially from Andrew Collins, Head of Business Solutions at Earnix, who talked about some of the applicability of Ai in the insurance sector, so far, and the direction of travel. We then heard from Dr Bogdan Vrusias of Amazon Web Services about the ethics and decision making beyond the application of Ai and ML in the design of modern business systems.
LMF is delighted to announce that ACORD, the global standards-setting body for the insurance industry has today become a Corporate Member of our popular community hub. Furthermore, LMF has become a Member of ACORD.
As part the 'Empower Talks' podcasts hosted by Samantha Ridgewell, Roger Oldham our CEO and Founder of London Market Forums speaks to Samantha about his facinating career, from his first job in insurance and moving to London from a regional office, through to why he founded London Market Forums (LMF) and how LMF is continuing to evolve since the pandemic.
At the Summer 2022 gathering of the popular Reinsurance Practice Group, we received a "Stateside" roundup from our kind sponsors, Freeborn & Peters LLP, who briefed the group on developments in the insurance market and the courts on COVID-19 claims and commented that very few of these claims had resulted in policy liability attaching due to the lack of perceived "property damage", although there have been a large number of event cancellation type losses.
After a top quality cooked breakfast, the Practice Group then discussed the trends from the 1/1 and 1/4 renewals, amongst other things. Participants commented about the steady increase in rates and hardening market and how this had resulted in some difficult conversations with clients. There was also mention of closer attention to T&C's and some renewals starting earlier but actually finishing later than normal - perhaps an indication of the times.
The theme at the Spring 2022 LMF Change & Business Transformation Leaders Practice was managing change in a hybrid working environment. Twenty London Market change leaders attended this quarter's Practice Group Breakfast, where we were joined by Ali Dove of Placing Platform Limited and their guest, Matt Unsworth, COO of Aon Commercial Risks UK. We also heard from Brendan Harley of Mendix and his guests from Valcon, Jason Jago and Andre Van Teeseling, who talked about the work they'd been undertaking with MS Amlin, in terms of digitising processes, practices and product lines.
The Market People Awards 2022, produced and hosted by the insurance Market’s thought leadership and networking hub, London Market Forums, was back for another stunning Black-Tie event, after a two year break, due to the pandemic.
Arete, a global cyber risk company, has partnered with London Market Forums (LMF) as a Corporate Member to participate in a wide range of industry collaboration activities within the London Insurance Market. Arete have recently appeared at the Cyber Resilience Summit on March 10, and throughout 2022 will feature at other cyber resilience-related Practice Groups and social events within the London Insurance Market community, organised by LMF.
LMF - London Market Forums and their Practitioner Members from the London Market had a fun afternoon, testing their cyber security knowledge in the CGI Cyber Escape Room at the Queen Elizabeth Olympic Park today. It was an educational, actioned packed afternoon and luckily, we all successfully escaped in the allotted time - although not every participant has been so lucky!
London Market Forums has had a proud partnership with Charles Taylor InsureTech over the last 5 years. The technology arm of the Charles Taylor Group has been a valued supporter of LMForums and at many roundtables and conferences over this time, sharing their wealth of Market knowledge with EC3 professionals and increasingly with our growing international audience.
The Team at London Market Forums would like to wish all of our Practitioner and Corporate Members, along with Market friends, a Merry Christmas and healthy and prosperous Happy New Year.
London Market Forums, the Police Digital Security Centre and the London Market working together - Cyber Insurance Guidelines for the SME sector - Work in progress.
Thanks to all those who participated in the London Market Forums Technology & Innovation Summit 2020, whether as a speaker/panelist or as a delegate. It was great to see so many people interacting, especially in our popular Breakout Rooms.
The London Market Forums and NetDiligence® Cyber Resilience Summit kicked off on Monday 16th November with a great panel...
The Reinsurance Practice Group met on 22nd October, with an extended group of senior participants, this time from around the world. The benefit of the virtual environment is that we can now welcome our peers from different jurisdictions. This is something we plan to continue when we get back to whatever the “new normal” looks like in 2021 - by allowing some people to join via video link and others can attend in real-time - as we all know, people enjoy the full LMForums English Breakfast!
Finance leaders from across the London Market participated in the first ever LMForums Finance Executive Practice Group on 20th October 2020. A fascinating first session discussed the following subjects:
Over the last 5 days, LMForums has staged the biggest learning event in our 5 year history, involving hundreds of hours of preparation and 7.5 hours of live broadcasting. It’s be an incredible conference, with over 30 Market leaders and practitioners speaking /participating on panels and some amazing questions from delegates from over 100 firms from across the EC3 community and beyond.
The EC3 workforce has responded and reacted well, at least initially, but there are potential dangers if the right management styles and appropriate training of those managers is not deployed properly. The coming months will ultimately determine the employment landscape of the London Insurance Market.
LMForums brought together a variety of professionals from the carrier and broking community in the London Market to look at the impact of COVID-19. We were pleased to have the support of US Law Firm, Freeborn & Peters LLP and Satellite Mapping and Drone specialists, Geospatial-Insight.
At this exciting virtual gathering in the second of the New World Series the general consensus was that Technology platforms have held up well for most firms and it’s now “business as usual". However businesses would not have been able to function without third party platforms, such as Teams, Zoom and WebEx.
Over the last 5 years, the LMForums platform has been at the centre of the Market, helping bring insurance practitioners together alongside quality suppliers and a wide range of Subject Matter Experts. Even in these challenging times for us all, LMForums is continuing to provide the opportunity for all parties to engage.
Dear Market Friend
Firstly, I would like to pass on my very best wishes, as does the whole LMForums team, to you and your family and friends at this extraordinarily testing time. We hope you are keeping safe and well and that those of you who are affected by awful virus make a quick recovery.
Over the last 5 years, LMForums has brought thousands of insurance professionals together to learn, share ideas and build valuable connections. During these unprecedented times we will continue to help you and your colleagues engage with each other, discussing matters of common interest and hearing from those with subject matter expertise. See our CEO’s letter attached.
Over the last 48 hours, we've had a number of discussions with insurance professionals of all levels from across our membership in the London Market.
AutoRek offers data management solutions that allow insurance firms to fulfil their financial, operational, risk control and regulatory reporting obligations. Our end-to end data management solutions ensures businesses meets regulatory requirements such as IFRS17 and Solvency II. Beyond our standard range of features and benefits, AutoRek can help insurers with broker accounting, subledgers, cash allocation, statements and ledger postings.
At a fascinating London Market Forums Technology & Innovation Leaders Practice Group Meeting today, 16th January 2020, our senior technology practitioner members from the London Market heard from two great speakers, Prof J. Mark Bishop of Goldsmiths, University of London and Andy Searle, Director of Strategy & Innovation at CGI.