Mark Chapman Global Aerospace Slide 2 Business opportunity or
Fear of being left behind? Slide 3 Slide 4 More customer choice
BRIC nations Increased competition Lloyd's and London have smaller
share of growing worldwide market Alternative capital More
commoditised commercial and wholesale insurance gets, the easier it
is to introduce new forms of capital Slide 5 The opportunity to
acquire and retain more, profitable, business; whilst minimising
operational costs Improved products Improved customer experience
Improved turnaround of client contract confirmation Faster claim
and premium payments Reduced friction for current and future market
participants Reduced operating costs for market participants
Potentially reduced price for our clients Slide 6 Customer Placing
Broker London Broker Bureau London Insurer Reinsurer Londonisms:
London brokers issue policies and manage claims Central settlement
through bureau Slide 7 Easy to use, accessible market place
offering a quality product Transparent process such that at any
point the client knows where their contracts and transactions are
Fast quotation Prompt documentation Fast claims agreement and
payment Value for money accepting that complex business might be
harder to place and process Slide 8 Need to attract new business to
London (and prevent existing business flowing elsewhere) Ease of
access seamless process from overseas offices Londons USP is the
strength of its knowledge capital and its ability to insure
uninsurable risks this needs to be retained and enhanced in any
e-Distribution model Processing effort commensurate to complexity
of business London processes (e.g. one claims agreement protocol)
consistent with other global processes Slide 9 Can we achieve any
of this without using e-Distribution? Slide 10 Lack of
profit-driven, business-led initiatives Current initiatives focus
on operational efficiency Resistance to change We invest little
time in making change happen Slide 11 What people require from
their jobs What Change can appear threatening How Change can
benefit their job Interest in their job using a skill having a
mental challenge using their discretion de-skilling impoverishing
removing discretion enriching broadening giving discretion
Professional Development do important work do difficult work
blocking promotion removing work revising jobs upgrading job /
increased responsibility change of scene / widening experience
Self-Worth self esteem recognition by others rejecting earlier work
rejecting ideas / appearing stupid improved recognition improved
status Job Security having a job material security redundancy lower
standard of living better conditions more flexibility 11 Slide 12
If you believe that London has a future then now is the time to
create one
