Introduction to the Solutions

Realising the London Market Tom Vision and Mission

LM TOM Solutions: what we are delivering today and Solutions proposed for the future

Current Phase: 2016 - 2019

Show description of TOM solutions

Moving risk through the market

Risks are negotiated and placed both face to face and electronically, removing paper from the process and creating a digital information flow and audit trail.

Moving money through the system more efficiently

Transaction accounting is simplified and standardised, meaning brokers can use the same systems for London as other markets.

Making London capacity more attractive to coverholders

Audit and compliance will be streamlined and standardised, and data collected only once - creating consistency and simplicity for all parties.

Sharing information seamlessly by using the same language

Data will be defined once, used consistently and continuously improved so that LM TOM initiatives can be properly integrated across the market.

A key step towards straight through processing

Creates digital data to eliminate re-keying and duplication, freeing up time for higher value activities.

Scanning the technology horizon to maintain a cycle of continuous improvement

The LM TOM’s ‘Research and Development’ workstream will identify ways of working to ensure we are better, smarter and faster.

Phase 2

Phase 3