Q&A: Acini on the dos and don’ts of digitalisation projects

1. How impactful do you think Blueprint Two will be in the London market? Is this digital transformation project well designed, in your opinion, or would you make any changes?

Matraj: We can all see the progress being made with Blueprint Two and I wouldn’t rely on it as the foundation for company strategy.

The vision behind the digitalisation of the London market is certainly commendable, yet its execution has been underwhelming.

Companies should instead focus on what lies within their own control. Trusted software vendors are already keeping pace with market trends and the evolution of Blueprint Two, so maintaining regular updates will ensure your organisation remains prepared for upcoming changes.

Ultimately, resilience will come from combining internal agility with the ability to adapt to external initiatives as they mature.

2. What key areas or segments of London market operations are ripe for digital transformation and tech-based improvements?

Wabiński: Before we even look at digital transformation, we need to make sure our data is ready for, well, anything really. That should be the very first thing to do – review what data you collect, in which systems, what is the granularity and whether it is consistent.

Then there are already available data standards you can be ready for – CDR and MRC are the key data structures already published and updated regularly by Lloyd’s that will fuel the Blueprint Two initiative.

Data compatibility is the first check before adopting any data transfer solutions. This will also help you streamline reporting to domestic and foreign regulatory processes.

Then we can move to the core systems – review. Knowledge of as-is will be your means to move forward through reconfiguration, upgrades or maybe switching vendor.

Everything depends on where your organisation is now and how much is known.

3. What do London market firms need to consider when embarking on a digital transformation project?

Wabiński: Competitive advantage isn’t a given – what worked in the past may not be fit for purpose today.

Review your current position and needs to determine if you aren’t falling behind more tech-oriented competitors.

This will help you allocate your budget efficiently – effectively buying a new set of competitive advantages through tech, or prolonging the already existing ones.

With the outcomes established and priorities clearly defined, you will avoid wasting time and resources and focus on your next big thing.

4. How should London market firms start a digital transformation project?

Matraj: Digital transformation initiatives must take into account the current market landscape, evolving technology trends and regulatory requirements, while carefully avoiding the repetition of past missteps.

With my experience in transformations, I know that they provide a powerful opportunity to optimise costs, streamline business processes and accelerate task delivery. However, companies sometimes do not use this opportunity.

Engaging experienced resources in early phases of a project is particularly critical, as defining the scope, objectives and feasibility establishes the foundation for long-term success.

Leveraging the expertise of experienced external partners adds significant value, offering proven insights and best practices from comparable projects across the industry. Their knowledge helps organisations mitigate risks and drive a truly sustainable transformation.

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