The Lloyd’s Market Association (LMA), the body representing the interests of managing agents and Lloyd’s brokers, in collaboration with Barnett Waddingham, a professional services consultancy and part of Howden, has launched an AI Adoption Toolkit to support managing agents (MGAs) in developing and strengthening governance frameworks for artificial intelligence (AI) across the Lloyd’s market.
The toolkit is said to provide practical, principles-based guidance to help firms move from early-stage experimentation towards more structured, governance-led adoption, as AI use cases continue to expand.
The framework is flexible and can be adapted to varying organisational structures, risk appetites, and regulatory environments.
This launch follows recent LMA’s research, which highlighted that AI adoption is increasing across the market, calling for a focus on governance and risk management frameworks.
The toolkit is built around five core principles: governance and accountability, risk tiering, data protection, security and intellectual property, and training and awareness, explained the pair.
The framework aims to allow MGA to enjoy the benefits of the emerging technologies while providing a structured framework. It also encourages firms to begin with lower-risk use cases, embed appropriate controls from the outset and scale adoption gradually as governance frameworks mature.
The toolkit highlights the importance of maintaining human oversight, aligning internal policies with evolving regulatory expectations, and ensuring that AI deployment is supported by effective training and clear accountability structures.
Sanjiv Sharma, Head of Actuarial and Exposure Management, Lloyd’s Market Association, commented, “As AI adoption continues to develop across the Lloyd’s market, the focus is increasingly shifting towards how it is implemented and governed in practice.
“The toolkit is designed to provide practical guidance to help firms embed appropriate controls early, manage risk effectively and scale adoption in a structured way.”
Wan Heah, Partner and Head of General Insurance, Barnett Waddingham, added, “Firms are moving beyond experimentation and starting to embed AI more broadly across their operations.
“The challenge now is ensuring that governance frameworks keep pace with increasingly complex use cases. This toolkit is intended to support firms in navigating that next stage.”
