The delay means that market participants will have an additional six months to prepare for the adoption
The launch of the second phase of Lloyd’s of London Blueprint Two initiative has been delayed, a statement released yesterday (7 December 2023) revealed.
The second part of the digitalisation programme was set to go live in October 2024, although this will now be delayed until April 2025.
It came following a request by the Lloyd’s Market Association (LMA), which was prompted by feedback from Lloyd’s managing agents.
The delay means that market participants will have an additional six months to prepare for the adoption of phase two and to focus on a cutover of phase one.
Phase one is still set to go live in a single market cutover on 1 July 2024.
Adoption
Blueprint Two is Lloyd’s programme to deliver a digitalised marketplace for its members.
Read: Lloyd’s postpones two milestones in latest Blueprint Two update
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This includes creating clear data standards, processing capability and automatic claims recognition.
A statement said that the technology build being delivered by Velonetic, in partnership with DXC Technology, the IUA and Lloyd’s, is still on schedule.
”With the cutover of phase one on 1 July 2024, the market can take confidence having processed two quarters of data through the new digital solutions before continuing their journey in adoption of phase two services,” it added.
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