General Insurance Article - LMA response to Blueprint Two cutover delay


Sheila Cameron, CEO of the LMA comments “The LMA welcomes the decision by Velonetic, and supported by Lloyd’s Council, to postpone the cutover date for Blueprint Two, taken in light of the reality that delays in testing have meant that it is no longer safe to cutover in October.”

 “The LMA remains committed to achieving the following three outcomes before the Blueprint Two programme goes live: a solution that works; a market that is ready; and a cutover that is safe. Only when these are all in place, and not before, will be the time to make the switch to the new system.”
 
 “Momentum must not be lost. The LMA encourages the market to continue to push forward with execution of testing over the coming weeks and months, as and when the testing facilities become available from Velonetic.”
 
 “The London market is united in wanting this programme to reach a successful conclusion. While this is taking longer than planned, it is important to remember that implementing digital processing services with Velonetic is the first step in achieving our vision of a digitised marketplace.”
 
 “The LMA welcomes the opportunity that this postponement affords to consult with the market on a replan that should be driven by the achievement of milestones rather than dates. This will ensure market wide confidence that the programme will be a well-planned and orderly success.”

 
  

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