Welcome to Global Reinsurance’s Technology special report, in which you will read about the Lloyd’s Exchange, Qatar Insurance Services, and the impact of new technology on brokers.
It is true that some people have, over the years, expressed worry regarding new technology – that it might take away their jobs, change the way the market operates and remove one-on-one contact.
But technology is here to help not usurp us. IT solutions can take away mundane and time-consuming tasks, help improve accuracy, leave an auditable trail, improve both customer service and relations whilst also allowing professionals to concentrate on “value added” work. Going around the market waiting for signatures, on claims or special acceptances, is simply not the best use of a broker’s time – especially on routine binder business. The London Market and Lloyd’s is a knowledge centre and technology is capable of setting the people with this knowledge free – free to be more productive and creative for our clients on all sides of the market.
Richard Garnett, managing director of Yellowblox