Lloyd's will look to create a number of centrally run services over the next three years in an attempt to cut costs for the market.
The corporation is proposing to look at a number of schemes including a central flood database, catastrophe modelling tools, and expansion of its cat bond vehicle, Thunderbird Re.
In an update to its three-year strategy, Lloyd's said it wanted "to use buying power of the market for possible purchases of services or products which the market can use".
A source close to Lloyd's said: "If an individual company were to buy a product separately it would be more expensive.
"Going forward, Lloyd's is not focusing on one particular product or department, but the idea behind it is to try to provide services centrally where there will be cost savings."
Ewen Gilmour, chief executive of Chaucer and deputy chairman of Lloyd's, said central resources, such as Lloyd's turnkey offices in Singapore, where eight insurers have offices, were already proving to be a success.
Meanwhile, Lloyd's plans to open an office in India have been delayed pending further research into Indian insurance law reforms and their implications for Lloyd's potential operating model.
