Two major players in the electronic marketplace have predicted a reduction in the number of players and possible collaborations the in future.
Ri3k chief executive Alex Letts and inreon chairman K ...
Two major players in the electronic marketplace have predicted a reduction in the number of players and possible collaborations the in future.
Ri3k chief executive Alex Letts and inreon chairman Kaj Ahlmann will be speaking today at an Insurance Institute of London lecture.
Letts' speech will focus on how ri3k will share the marketplace with Lloyd's Project Blue Mountain, as he believes Project Blue Mountain is devising a similar direct insurance product to the hub ri3k has built for reinsurance.
He will outline two possible long-term options, the first of which is a "consolidation or co-operation" between ri3k and Project Blue Mountain, or a second which assumes that both are successful, but are separate.
This comes at a time when the market is eagerly anticipating Project Blue Mountain going public.
A spokesman said there is no official launch planned in the next couple of months, as has been speculated, but said they would be generally raising their profile from now on.
Ahlmann is expected to identify key elements for success in his speech, including offering hard-to-replicate capabilities, being customer-focused and making back-office integration a key efficiency driver.
He will say it is essential to become a market leader, predicting that only two or three major initiatives will survive in future.
The lecture is scheduled to take place at Lloyd's, chaired by Lloyd's chief executive Nick Prettejohn.
