The rebranding of Lloyd's is giving way to more pressing issues, says Katy Dowell

' Lloyd's branding is the love child of Lloyd's worldwide market director Julian James. The image of a crisp clean underwriting floor with plasma screens beaming in market news from around the world will make for an idealistic 21st century underwriting floor.

Smart white Apple Mac pods will sit on desks in the boxes, which will also have cool white swinging chairs, and smooth digital telephone systems - the future is here, the future is white. Well, maybe...

The 10-year Lloyd's branding strategy, while essential to Lloyd's, has become less important to the market.

A softening economic climate has diverted attention away from a bigger and better Lloyd's brand. Syndicates are busying themselves with putting together business plans ahead of the June deadline.

Lloyd's chief executive Nick Prettejohn has emphasised the importance of establishing disciplined underwriting practices to prevent a massive downslide in the market.

FSA chief executive John Tiner has put contract certainty of the priority map, and Eliot Spitzer in New York has made broker remuneration a hot topical debate.

The redesign of the underwriting floor (which is intended to drag the market kicking and screaming into the 21st century) is a vision. Several companies support the drive for a modern Lloyd's image. But is it deemed as important as managing the underwriting cycle?

The aim in the 'here and now' is for Lloyd's to converse with the market.

James and brand consultants Saffron have put together a "very smart" presentation for the big market players. Sources tell me it is about moving the strategy forward.

According to Lloyd's, all points are up for negotiation. It is taking on the views of the market. The new brand, it says, will emerge stronger than before.

So what are the details? For starters: What will the brand look like? Who will be expected to carry it? Does the Lloyd's brand have the right reputation for the market?

And the number one question quivering on the lips of every chairman, chief executive and underwriter is how much is it going to cost and who is going to pay for it.

According to its website Saffron has branded entire countries, so presumably it knows what it is talking about. It would have worked with difficult people, and will know how to present ideas.

But it is dealing with smart sceptical cookies, some of whom consider the current Lloyd's brand is good enough and wonder why it needs to be changed.

Some larger companies have brands that carry as much, if not more, weight than Lloyd'sand have expressed concern at the impact on their brand of carrying the Lloyd's emblem.

But with perseverance, confidence and some self-belief the market will get its own way. In the year 2015 brokers will walk down Leadenhall Street into a market place buzzing with a new generation of brands. Imagine the look on Julian James's face...IT

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