iPad pilotupdate

Adam stafford – head of electronic distribution

Acord club

Insert security classification here

Today’s agenda

• What we set out to do

• Activity to date

• Findings

• Next Steps

2010: ipad sounded like a great ideaWhy look at it?

• Obvious potential to support face to face negotiation

• Brings electronic data capture in to process

• Gives brokers multiple tools to support broking process

• Aligned with other initiatives, i.e. work on TMEL

• Saves everyone’s arm muscles

• It’s popular and brokers love nice toys

2010: Pilot set out to test the waterLloyd’s set out to achieve the following:

• Test the viability of tablet technology in the negotiation and placing process and the iPad as a unit.

• Understand the benefits that tablet technology can deliver

• Encourage solution provider offerings in this space

• Consider the requirements for any central solution

• Raise awareness and encourage innovation

Approach

• Lloyd’s set in motion a simple piece of research and development.

• 40 iPads where given out to 10 different brokers to trial how the iPads fit within business practices.

• Regular meetings are held to discuss how the pilot is progressing and what the future looks like for tablet technology in the Lloyd’s market.

• Feedback on central requirements are gathered regularly

• Analysis on which solution/software providers are working in this arena and what their offerings are.

Current activity

•iPad as an ‘electronic slipcase’Load it up before you leave the office. Unload the finalised documents when you return from the market.

•iPad as a ‘mobile desktop’Full access to back office system allows the broker to use his own internal systems, workflow and message management tool.

•iPad and an ‘electronic trading platform’ Access to trade online, editing and amending documents whilst supporting face to face.

benefits

• Structured data

• Full audit trail – i.e. single version of the truth

• Instant face to face broking (don’t wait for docs)

• Allows broker to update errors on the spot

• Time saving

• No scanning at the box

• Access to data and information – e.g. Check the sport results while you wait

Other findings

• Tablets are here to stay

• Solution provider offerings are meeting requirements

• Aligned with The Exchange and long term strategy

• Wi-Fi

• Apple stepping up to the Corporate plate

Concerns / Issues

•Is the iPad the right product?•Is it supportable?•Security concerns •Hearts and minds of practitioners

The future•Continuation of PilotThe Pilot will continue through 2011 into 2012.

•Lloyd’s Wi-FiA free to use and easy to access Wi-Fi is now live in the room, this service will be regularly reviewed to ensure it is offering suitable capacity and coverage

• Lloyd’s ToolkitConsideration being given to a toolkit to bring basic tools, e.g. crystal, LWR and annotation software together as series of Lloyd’s ‘widgets’

© Lloyd’s11