Week one

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Re-engage

Happy New Year to everybody!

We hope you all enjoyed a nice end to 2020 and managed some time away from work. What a year it has been!

The LMA Dare project team are excited to be starting 2021 with a bang, and today we kicked off our series of Discovery workshops and interviews.

These run throughout January to help explore what things you believe you really want to change about DA. More about the workshops and interviews later in this post but beforehand, we want to update on the different things that happened late last year whilst the project was mobilising: 

  • This project microsite was successfully launched in November, attracting thousands of visitors and hundreds of registrants to be involved in this initiative.
  • The first of several online surveys was shared with several stakeholder groups in December, with over a hundred completed responses received within the first few days.

Thank you!

To the many who took the time to answer the questions and/or register your interest to get involved or be kept up to date on the progress of this project, thank you! A project like this can only truly succeed if we all participate together - daring to be open and honest about the things we believe need to change in DA. If you haven’t yet been invited to a workshop, or participate in a survey, don’t worry - we are going to make sure that everyone that wants to be involved will be - you will not miss out on having your voice heard.

A couple of key insights from the activities leading up to now suggest that confidence in DA as a market remains strong, whilst recognising that things need to change:

  • A whopping 95% of respondents believe that the DA market at Lloyd’s still has potential to grow.
  • That said, 60% of respondents advised that they will increase use of alternative markets or placement methods if DA at Lloyd’s doesn’t improve with a further 30% remaining on the fence at this point, neither agreeing or disagreeing with this.

We tested our format…

Additionally, the Delegated Underwriting Committee were kind enough to let us hijack their monthly meeting and participated in an online workshop to pilot the agenda and format of the Discovery workshops that will be taking place throughout January. This was an excellent opportunity for us to test the format and we learned a lot, resulting in our making several amendments to our online whiteboard tool so that it is easier for people to use from their laptops at home.

For those of you who are interested in seeing what this looks like, you are more than welcome to access a demo version of the whiteboard by visiting www.lmadare.com/discovery

It’s all about Discovery in January...

As mentioned earlier in this post, throughout January we will be conducting a series of workshops and interviews each week with various different DA stakeholders from across the world to understand the things they like, don’t like and what they absolutely want to see an end to in the DA market.

The intention is to consolidate all of the findings from these different sessions and group them to identify different themes that will be used as the basis for a separate series of Innovation workshops that will beheld throughout February to dig into the detail of these and identify the different ways in which DA could be changed to address them.

We very much hope that all invitees are able to make these workshops and look forward to working with you all to identify the things that can bring about significant and lasting change in the DA market.

Please keep checking back here for updates on our findings as we progress with the Discovery and Innovation workshops during January and February 

Together, we can change Delegated Authority