This is the third and final part of a three-part series by Ruschlikon Marketing Group of an interview with Joe Dainty, the Global Head of Operations at Lloyd’s.
Joe Dainty: As the TOM programme continues we believe there will be other opportunities to collaborate on common global standards for sharing information, we will be looking at the distribution of other data such as claims attribute information, exposure data, and underlying contract data. It makes sense as we start to look at these areas in the future phases of TOM we look at them together.
Marketing Group: What are your suggestions for global insurers, brokers, reinsurers regarding engaging in the TOM-efforts?
JD: We have received significant support from the Ruschlikon community on CSRP, and certainly wish for that collaboration to continue. For any organisation that trades globally and in the London Market, we would recommend that they engage with the Ruschlikon UK community as well as CSRP to ensure that they maximize the benefits of adopting ACORD messaging for accounting. I feel that the Ruschlikon community and the LMTOM have forged a very good relationship, one that will support and benefit both communities as innovation and modernisation challenges of our market practices.
Finally, I would like to say a massive thank you to the Ruschlikon community for their support to date (especially those involved in our TOM working groups). For me, the co-operation shows the development a strong partnership that challenges the status quo and embraces change.