Companies should appoint board level sponsors for all London market reform initiatives, according to Dave Matcham, chief executive of the International Underwriting Association.

Speaking at the annual Xchanging conference in Brighton yesterday, Matcham outlined a six-point plan for the implemention of a ‘cultural revolution' in the way insurance and reinsurance business is transacted by the market.

"My very simple but important message is that behavioural change is every bit as important as process change," Matcham said.

"Just because something has been done in a certain way for as long as anyone can remember is no reason to go on doing it that way. We must all embrace our own cultural revolution."

The proposal for board level sponsors on market reform initiatives was made as Matcham identified leadership as one of six key processes necessary for successful behavioural change.

He said: "What leaders say and do matters enormously."

He suggested: "There should be an accounting and settlement sponsor, a claims reform sponsor and, most importantly, someone responsible for blending the technology solutions and process changes into the overall culture of the company. This may well be the chief executive or chairman."

In addition Matcham called for the market to ‘Think Team' and staff development, for example by making wordings staff more client facing, and ‘Think Training' to attract new talent and deepen the skills bases of existing staff.

Next he called for companies to ‘Think Earlier' in the business process to avoid having to deal with problems just days before a renewal is due, and ‘Think Motivators' to provide staff with compelling incentives to change their behaviour.

Finally he advised executives to ‘Think Collaboration', learning from their peers by using market associations like the IUA and participating committees and groups that enable experiences and best practices to be shared.

Matcham added that London's market reform programme had already made a positive difference and won near universal acceptance.

He said: "I feel that the market reform programme is akin to an ocean-going liner. It takes a lot to turn the vessel, but once you've started there's no going back."