Lloyd’s further delays Blueprint Two platform: stage one due Oct. ‘24
Lloyd’s confirmed another delay to the planned roll-out of its pending digital platform Blueprint Two, adding a three month delay to phase one targets only three months after having admitted a six month delay to phase two.
“We are committed to delivering a safe cutover to Blueprint Two for all market participants,” Lloyd's CEO John Neal said in announcing the three-month delay of the first phase target to October 2024.
“We won't move the market to phase one of additional services unless we are confident the technology works.”
Phase one of the shift from Lloyd’s 30+ year-old mainframe system to a cloud-based platform had been set for July 1, 2024.
The delay is tactical vis-a-vis preparatory needs signalled by market participants, not a shortfall to plan by Lloyd's or the platform developer Velonetic, Neal insisted. The platform will be “delivered and ready” in July.
“By moving the cutover period, we enable the market participants to complete firstly the Q3 2024 reporting and provide an additional three months to undertake their own internal testing and assurance activities ahead of any cutover,” Neal said.
Lloyd's had previously announced delays to the second phase of implementation, also on claim of clamour from market participants for a longer gap between phases. An October 2024 target was pushed out to April 2025.
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