The UK insurance market, the world's largest (re)insurance hub, is poised for radical transformation with the recent release of Lloyd’s Blueprint 2.0, the marketplace’s digitalization program. The transformation has been accelerated by consumer needs, habits, and expectations, which have shifted during the pandemic spurred by the demand for digital experiences.
In a bid to capitalize on the new digital economy, UK insurers and brokers are focusing on weaponizing technology to remain cost competitive and drive growth and differentiation. They are looking to accelerate their transformation trajectories through focused investments in data, cloud, platforms, and digital solutions and keep pace with a slew of modernization initiatives in the UK insurance market. This appetite for change and technology disruptions provides technology vendors and IT service providers a unique opportunity to serve the needs of London market participants and drive market transformation.
Scope
Industry: insurance
Geography: UK
Contents
This report studies:
UK insurance market trends and analysis
Overview of Lloyd's of London Blueprint 2.0 initiatives and implications for market participants, technology vendors, and IT service providers
UK insurance technology vendor and IT service provider landscape and their capability analysis
Implications for technology vendors and IT service providers to drive profitable growth in the UK insurance market
