LONDON--Ingrained traditions and fear of change are presently the biggest hurdles for insurers and brokers moving to electronic trading, now that many data standards and technology infrastructures are in place, said experts at the ACORD London Conference.

"Technology is the least of your worries," said Sue Langley, director of market operations and North America at Lloyd's of London, during a panel on the future of placing.

"Fear is a big hurdle--the fear that I'm not going to have the same personal relationship with the brokers and underwriters," she said. "Ideally, you won't lose that with electronic placing, but you will be able to dispense with the queues for simple changes or endorsements."

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.