McKenzie Intelligence Services (MIS) and London Market Operations & Strategic Sourcing (LIMOSS), with support from the Lloyd’s Market Association (LMA), have agreed to extend the provision of geospatial intelligence for Lloyd’s market for 2024.
MIS is a geospatial intelligence provider for the global insurance industry that has equipped the Lloyd’s market over the past three years with multi-sourced data and imagery.
These services have been accessible through the Global Events Observer (GEO) platform, to help expedite claims decisions and facilitate faster payments across the Lloyd’s market ecosystem.
Forbes McKenzie, CEO and Founder of MIS, said: “We are delighted to announce our collaboration with LIMOSS and the LMA on procuring this agreement. We look forward to serving the Lloyd’s market on a centralised basis for another year, delivering accelerated and reliable intelligence that will help insurers to make confident decisions in the critical time following a catastrophic event. The effort behind this partnership does not go unnoticed, and we are extremely grateful for the teams at LIMOSS, the LMA, and Lloyd’s who have materialised this opportunity.”
GEO was initially developed to serve the needs of the Lloyd’s market and MIS has since expanded GEO’s capabilities by leveraging innovative technologies and forging strategic partnerships with a number of data providers.
Under the agreement established by LIMOSS all qualifying Lloyd’s Managing Agents will retain uninterrupted access to GEO and other MIS services throughout the entirety of 2024.
GEO will continue to bring direct and immediate benefits to exposure and claims management, underwriting, and operations across the Lloyd’s market.
Janine Powell, Claims Director at the LMA, commented: “Continued access to MIS’ geospatial intelligence services through the GEO platform aligns with our commitment to engaging technology to augment the claims handling experience.
“This reaffirms our dedication to empowering Managing Agents with advanced tools for informed decision-making during critical moments, ultimately benefiting our entire market ecosystem.”
Patrick Molineux, LIMOSS Managing Director, added: “LIMOSS’ key role is to source, implement, and run value-add market services for our customers. Acting upon direction from the LMA Claims Committee, this is another example where LIMOSS is partnering to deliver centralised services to our customers. We look forward to the partnership with MIS and the GEO service.”
