Commentary: Blueprint Two Roll-Out & Onboarding

Lloyd’s of London has introduced a Phase One and Phase Two approach to implementation which all companies, no matter where they are on their digital journey will have to adhere to. Stuart Favier at Northdoor plc takes a look at the Blueprint TWO roll out. 

The latest update from Lloyd’s of London on the roll-out of its Blueprint Two has made some significant changes to the project. Designed to help bring the Lloyd’s of London market in-line with the digital demands on customers and partners, Blueprint Two was first released in November 2020.

Originally there were two options for companies moving the Blueprint Two. The first was ‘Transitional Services’ which allowed companies more time to shift over to a full digital offering as long as they were making some headway with the transformation of their business. The second option was to go straight to full adherence to Blueprint Two.

However, at the last update meeting Lloyd’s of London announced changes to this onboarding process which will impact all companies as Stuart Favier, Client Manager at Northdoor explains:

“Prior to this latest update companies were, if they were able to, move straight to a full digital offering, cutting out the transition period. The update has seen this approach scrapped, with a Phase One and Phase Two introduced. There is no longer the option for companies to move straight to full digital, with everyone having to take part in the Phase One period.

“The reason for Lloyd’s of London insisting that all companies go through the transition stage is that whilst many of the larger companies were seemingly in a strong position to move straight to full digital, the changes needed were so substantial the market wanted to make sure that all companies had made the necessary changes before committing to full digital.

“All companies have to move to Phase One in June 2024, but by September 2024 they can move forward with their complete digital projects. However, this will cause some confusion in the market as companies work out where they are in the process and whether they would be ready to move to a full digital programme within three months after Phase One has been introduced.

“Some companies are looking at finding a solution that gives them the flexibility they need to ensure they can move smoothly to Phase Two. Some solutions can provide a bespoke offering, allowing companies to move to the equivalent of a Phase 1.5.

“For example, such solutions can take ‘full digital’ messages and then convert them into the message that London carriers receive today. It ticks the compliance box of full digital without having to rip and replace their current systems, giving them time to move without causing huge business continuity issues.

“With companies in the market in such different states of digital transformation, whatever approach they choose, companies have to ensure flexibility throughout their processes. They also should be looking at implementing bespoke solutions that reflect their current position as well as the speed they want to move to a full digital process,” Favier concluded.