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Lloyd's of London As part of the process, Lloyd’s is seeking input and feedback from a Beta group of insurers, market associations and placement providers. (Photo: eric laudonien/Shutterstock.com)

As insurers continue their implementation of new technology to better position their companies for future growth and to improve service to policyholders, Lloyd’s has introduced the first version of its Core Data Record as part of the second phase of its Future at Lloyd’s strategy. The effort is designed to shift the market even further into the world of digital technology to provide better solutions for the claims and settlement processes.

In addition, Lloyd’s will be collaborating with ACORD to help with the adoption of global standards that are already being utilized in the London market. ACORD facilitates the exchange of data through electronic standards and standardized forms.

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Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

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