LMA Member Manifesto sets agenda for 2023

The Lloyd’s Market Association (LMA) has today (31 January 2023) published its Member Manifesto, which outlines its strategic priorities for 2023.

These priorities are set by the LMA board and will steer the association’s agenda for 2023.

Sheila Cameron, the LMA’s chief executive, said: “2023 is set to be the culmination of years of effort in the Lloyd’s market. We cannot stop here – it is critical that we remain sharply focused on supporting and delivering the market’s transformation programme.

“In profound ways, the industry is now tackling the challenges of modernisation head-on and we are passionate about doing the same, whether it be through diversity and inclusion initiatives that are transforming the workplace, through technological solutions that are creating value for our members or through the skills and technical excellence we are providing at the LMA Academy.”

LMA priorities for 2023 include:

• Continuing to promote and support members’ alignment with Future at Lloyd’s initiatives, supported by DXC technology. This includes the adoption of a unified claims vision and optimisation of the market’s delegated authority business processes and practices.

• Expanding and building on the market’s technical expertise with particular focus on ESG to ensure that ESG data, reporting and the oversight regime Lloyd’s intends to adopt is credible, practical, and measured.
  
  
• Working closely with its members to reinforce the market’s technical expertise, particularly in systemic cyber, climate litigation, renewable energy, product simplification and international wordings.

• Supporting market-wide regulatory engagement with market regulators, European Insurance and Occupational Pensions Authority (EIOPA), Lloyd’s and HM Government. 

• Providing technical training programmes including developing and delivering an ESG training programme, working with Lloyd’s on the evolution of claims training and developing a new programme to attract claims talent. 

• Engaging with members to reinforce the brand and reputation of the market, culture, talent attraction and retention.

Cameron said: “Our Member Manifesto sets out an ambitious agenda that is as always intrinsically linked to the success of our members and the Lloyd’s market. With the fantastic team at the LMA and the continuing support of our members, I firmly believe we will successfully deliver this agenda.”