DOCOsoft was among 22 market technology vendors to publicly pledge their support for the Blueprint Two initiative, which aims to digitalise the London (re)insurance market. Collectively the vendors represent the entirety of technology providers interacting with Lloyd’s existing central services.
The pledge made by all vendors is as follows:
“We are committed to supporting our clients’ objectives in the London market in relation to working with the new digital services being developed under Blueprint Two. While some of the details of the changes required are still to be released it is our plan, in line with our product strategy, to make necessary adjustments to our supported software products to ensure they work with the new digital services, at a minimum on a transitional basis and, where possible, on a digital basis, leveraging ACORD and API enablement. We hope this will give our clients the confidence that we will ensure interaction with central services can be maintained and we will continue to work with our clients and the Blueprint Two Engagement Team, to ensure we understand and support our clients’ intentions and gain improved understanding of the digital services as the detail emerges on the impact to our software and our clients.”
DOCOsoft CEO Aidan O’Neill comments:
“At DOCOsoft, we’re strong supporters of the Blueprint Two initiative. Once the core systems have been developed and modernised, this market will be far better placed to operate efficiently and leverage the power of data. Digitalisation will help insurance businesses make better, data-driven decisions and unleash the full potential of automation, AI, and machine learning. With open APIs built into the core systems, it will also support the open connectivity with external systems this market so urgently needs.
“DOCOsoft is fully committed to our ongoing close collaboration with our carrier clients and with everyone involved in Blueprint Two to ensure it achieves its full potential. This will benefit all market participants and, crucially, the end-user customers this market serves. If market bodies, carriers, brokers, customers and core system vendors all work together to make this happen, London can once again emerge as a true centre of excellence in insurance innovation.”