The London Market Group has partnered with the Boston Consulting Group (BCG) on the launch of a new client research program.
The program is designed to better understand the disruptions faced by businesses reliant on the London market for risk transfer.
LMG says that understanding the most relevant risk patterns and client needs will help the market develop relevant solutions to a shifting risk landscape.
“We are delighted to be working with BCG on this piece of work. The transformation of businesses was already underway and the speed of that change has been accelerated by the COVID-19 pandemic, testing and challenging the reliability and relevance of insurance and its value chain,” said Sheila Cameron, sponsor of the Client Lens workstream and CEO of the Lloyd’s Market Association.
“The essence of this study is to listen to the customers who place business in London, hear their views and engage with them to collectively make sense of these disruptions and stimulate reliable innovation from all parties.
“Through in-depth qualitative consultations with buyers, we will be able to gain evidence of critical risk developments, insurance implications and associated service needs from various client segments.
“This intelligence will help all our stakeholders in guiding innovation across the value chain.”
The outputs from this research will be used in a series of activities with a client advisory community that will be constructed while the research is underway.
“This body will be a source of guidance and counsel for strategic developments for the London Market Group.”
