Jardine Lloyd Thompson said it has successfully completed stage 1 testing with the Group of Six (G6) Alliance for Peer to Peer Trading.
The company said insurance and reinsurance quotations can now be requested and distributed electronically, the information being extracted from JLT's internal systems, processed through the underwriter's Gateway, validated and then loaded into the underwriter's back office system.
Richard Borgonon, chairman of Business Reform for the JLT Group said: "Our team has delivered this breakthrough absolutely on time and as a first stage development with G6 members.
"By the end of July, JLT will have implemented it's own Gateway system allowing integration with any of the ongoing, or future, ACORD standard electronic market initiatives.
"We are fully committed to working with all market participants in order to drive this and other key aspects of change so essential to enhance the commercial and competitive abilities of the London Market."
Sue Langley, chief operating officer of Hiscox and G6 Chair said: “The work being done by JLT and others within Lloyd's is a critical part of the drive to streamline and improve Lloyd's market processes."
