After a request from the Lloyd’s Market Association (LMA) Board, Velonetic and the Lloyd’s marketplace have decided to move the launch date of phase two of Blueprint Two digital services (which includes the Digital Gateway) to April 2025.
Earlier this year, it was confirmed that the Blueprint Two digitalisation programme will be delivered in two phases, with phase one going live in a single market cutover on 1st July 2024.
Phase two services were planned to go live in October 2024, but will now move to April 2025, to respond to the LMA request, and importantly to focus all market participants on the need to successfully cutover on 1st July 2024.
Moving the launch of phase two has been driven by feedback from Lloyd’s managing agents and is supported by the LMA. This will provide market participants with an additional six months to prepare for the successful phase two adoption and focus on a successful cutover of phase one.
The technology build being delivered by Velonetic, in partnership with DXC Technology, the IUA and Lloyd’s, has been reported to be firmly on schedule.
With the cutover of phase one on 1st July 2024, the market can take confidence having processed two-quarters of data through the new digital solutions before continuing their journey in adopting phase two services, says Lloyd’s.
“Delivering the new technology is vital to our ambition of creating a digital marketplace, transitioning all market participants from a 30+ year-old mainframe system to a cloud-based, resilient platform that is fit for the future,” notes Lloyd’s.
Earlier in October, the LMA released an updated version of its playbook for managing agents to provide them with the tools and knowledge needed to implement the Blueprint Two market transformation initiatives.
