But door open for other technology providers to bid for contracts
Xchanging’s contract to run the Lloyd’s of London’s back office system has been retained, according to a letter sent out by Lloyd’s chief executive Richard Ward.
The letter, which was sent out to the Lloyd’s managing agents, revealed that a new set of governance principles had been agreed by the shareholders of Xchanging Ins-sure Services (XIS) which give the Lloyd’s Market Association a bigger role in supervising the market’s back-end service providers.
But despite Xchanging maintaining a largely monopolistic position, according to the letter, the door will be opened for other technology providers to tender for new contracts.
Insurance Times speaks to some key players in the market to get their views.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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