Lloyd's could cut cut claims leakage by £300m-£400m per year, according to a source close to Lloyd's.
The source said that the corporation would be introducing "target minimum standards" in a number of claims areas in the future.
"Lloyd's has done research that shows up to £400m could be saved each year in the market through use of electronic processing," said the source.
Earlier this year, Lloyd's launched a review of its claims handling processes in conjunction with consultant McKinsey.
It is estimated that Lloyd's spends more than £500m a year in ancillary work for payment of claims.
