LONDON, Nov 14 (Reuters) - Commercial insurance market
Lloyd's of London is restructuring its data,
operations and change departments, which will involve
outsourcing some of those units' work, a Lloyd's spokesperson
said on Thursday.
It was too soon to say what the impact would be on jobs at
the organisation, the person added.
"As part of our efforts to set the corporation up
sustainably for the future, we have designed a new proposed
organisational model, which involves outsourcing some of our
technology and operations estate," the person said in an emailed
statement.
"This has no impact on the service we provide to the market
and Lloyd's will retain responsibility for operational
resilience, as well as the oversight and governance of the
outsourced services."
Lloyd's oversees a market of nearly 50,000 underwriters and
brokers in London. It is in the process of upgrading its
technology, moving away from being a totally face-to-face
market, where brokers and underwriters meet on the trading floor
of its tower in the City of London financial district to agree
deals. Critics complain that progress has been slow.
Consulting firm Accenture ( ACN ) will take over Lloyd's' IT
services from April 1, 2025.