London market reforms update paper-based processes in favor ofmodern-age tech tools and standards
When futurists some decades ago declared the advent of the“paperless society,” they might not have realized the tough nutthey had to crack in the London market. But times are changing.Soon the sight of 17th century movers and shakers buying andselling coverage at Mr. Lloyd's famous coffee shop will be replacedby their 21st century counterparts conducting essentially the sametransactions on their laptops in Starbucks.
While paper may not be quite the idea whose time had come andgone, plans are now to have at least 75 percent of all Londonmarket claims be handled electronically by the end of thisdecade.
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