TOM Steering Board agrees key initiatives for 2016
The London Market Target Operating Model (TOM) Steering Board has agreed to prioritise three key initiatives during 2016 after meeting for the first time.
The initiatives are: Placing Platform Limited (PPL), Central Services Refresh Programme (CSRP) and Delegated Authorities, plus one enabling project focusing on data management.
In addition, the TOM blueprint will be run in parallel to these initiatives and will be completed in June 2016.The blueprint will clarify the business case, scope and timelines for the TOM, and will be based on the analysis of the findings from the TOM market consultation programme run at the end of quarter 4 in 2015. The blueprint will also consider other potential TOM initiatives, which may be deferred to future years.
Inga Beale, chief executive officer of Lloyd’s of London and Chair of the London Market TOM Steering Board said: “This morning was the first time the TOM Steering Board has met, and there was full attendance of cross-market representatives.
“There was extensive discussion on the TOM priorities and funding for 2016 and beyond, and I am delighted that there was agreement on progressing three key initiatives, enabled by one touch data capture.”
