Lloyd’s Market: LMG Launches EventWatch Service

Lloyds of London Image Portfolio Feb2011

As Hurricane Dorian tracks steadily towards the USA, it’s useful to know that the LMG have launched a 24/7 events monitoring service via smartphone app, which will be of interest to underwriters, MGAs and brokers.

The LMG today launched EventWatch, a 24×7 global event monitoring, alert and analysis service. An app that monitors over 100,000 online sources to provide in-depth information on major disruptive events across the world that could affect clients.

Dave Matcham, Chief Executive of the IUA and sponsor of the Insight and Outlook workstream commented:
“Our aim is to curate knowledge and intelligence from within and outside the market so that we can work on common problems and collective solutions.

This impressive online event information service uses enhanced machine learning and AI to provide tailored customer alerts – that will help keep London Market participants abreast of major global events in real-time.”

EventWatch is available free to anyone working in member firms of the IUA, LMA, Liiba and Lloyd’s. The information provided will help market practitioners to:

  • Proactively reach out to clients who may be affected by an event before they reach out with a claim.
  • Respond more quickly to a wide range of events as they unfold, that existing alerts don’t provide.
  • Give clients valuable insights outside of the renewal cycle or claims process.
  • Have a client service edge over other insurance hubs.
  • Provide improved customer service to insureds. 

Users receive a disruption alert showing the level of disruption and severity of events, and they can select to receive either daily or weekly news digests. EventWatch can be accessed via the new LMG website: www.lmg.london.

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