LMG launches steering board for new model
The London Market Group (LMG) has launched its London Market (LM) Target Operating Model (TOM) Steering Board.
The Board will work closely with the LMG Board to govern the design and delivery of the TOM.
Benedict Reid, chief executive officer (CEO) of the LMG, said: “The consultation phase of the TOM was undertaken at the end of last year, and the feedback is currently being reviewed and analysed. This has highlighted that, as the TOM programme moves to detailed design and delivery, it is important to develop strong cross-market executive governance.
“The LM TOM Steering Board has been established as the executive-level body that will make decisions on the overall outcome, design, timescales and budget for the delivery of the TOM initiatives. It will also be responsible for championing the programme within the London market, and participants have been appointed by the market associations.”
Inga Beale, CEO of Lloyd’s of London and chair of the LM TOM Steering Board, said: “The Steering Board has evolved out of the existing TOM Steering Group as the logical next step in developing the governance of the programme. The Board and its members have an important role to play in the overall prioritisation of TOM initiatives, the quality of their delivery and the successful market adoption of the changes they will bring.”
The LM TOM Steering Board comprises: Inga Beale, Lloyd’s (chair); Vinizio Cellerini, Zurich; Christopher Croft, Liiba; Denise Garland, Tokio Marine Kiln; David Gittings, LMa; and Geoff Godwin, AIG.
It also consists of Andrew Horton, Beazley; Peter Houston, Chubb; Shirine Khoury-Haq, Lloyd’s; Brian Kirwan, Allianz; and Bronek Masojada, Hiscox; as well as Dave Matcham, IUA; Steve McGill, Aon; Andrew McKee, Mitsui Sumitomo; Benedict Reid, LMG; Kate Roy, Willis; and Mark Weil, Marsh.
Adrian Thornycroft, LM TOM programme director and Joe Dainty, LM TOM business owner and global head of operations at Lloyd’s, will attend the meetings to represent the TOM programme.
The key responsibilities of the LM TOM Steering Board will be to define the overall TOM programme and ensure consistency of governance, quality of delivery of the various initiatives to agreed timescales and budgets and provide executive decision making relating to the delivery of the TOM. They will also ensure independent oversight and challenge on the TOM delivery and govern spend by the TOM workstreams against allocated budget.
