14 October 2015 Insurance

Young professionals to help work on LMG initiatives

The London Market Group (LMG) has announced plans to appoint two young professionals on each of the initiatives within the Target Operating Model (TOM) at a forum held for young professionals in the Lloyd’s and London market.

The professionals will assist in the design and build of each area, ensuring that their skills, insight and expectations influence the modernisation plans for the London market. They will also lead the efforts in the long-term to build on the five-year plan to ensure it's where it needs to be in terms of fully utilising the skills and expectations of Generation Z and beyond.

The TOM covers three groups of projects: current projects, new London market projects, and new Lloyd's market projects. The current projects include the Central Services Refresh Programme (CSRP) and Central Services Refresh Programme (CSRP) - Post bind Submission (PbS).

Shirine Khoury-Haq, the LMG sponsor for the TOM and director of operations at Lloyd’s, said: “It is great that young insurance professionals are committed to helping modernise our market. Of the 15 initiatives within the TOM, some like PPL are getting close to launch, while others are still in their early stages.

“Each of them is building momentum and can only be improved by fresh, innovative thinking from the next generation. This is more than just a good thing, it is vital. We are building a market for 21st century risk – with a model designed and implemented by the people who will be responsible for leading it. Their ideas, energy and commitment will be invaluable in shaping how our market will operate in the future."

Amy Stringer, senior communications executive at the Lloyd’s Market Association (LMA) and project lead for its cross-market engagement with young professionals, said: “I am delighted that young professionals are being given this opportunity to get more actively involved in helping to ensure that London continues to be themarket of choice of the future.

“Results from a recent LMA survey identified enthusiasm from the market’s under 35s to influence the London market modernisation agenda. It is important that the views of young professionals are heard as changes made now are certain to shape their careers, so this provides an exciting opportunity for us to help influence key decisions for the future.”

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