The news that Phase One of the Blueprint Two project has been, once again, delayed may come as no surprise to the Lloyd’s and London market, but it should not represent the end of the push to digital for companies operating in the market.
Unlike previous delays, no alternative date has yet been put forward by Velonetic, the joint venture running the project. This does not mean that the project is coming to an end but perhaps represents a rethink from the Velonetic team. The extent of changes needed to transform the market from the very traditional methods currently employed to a fully digital offering is huge. Just the testing of the various elements involved in the project takes a large amount of time but is critical if the project is to be successful. Therefore, taking more time and putting no time pressure on the testing period makes sense, but should not represent an ‘excuse’ for companies to pause or stop their digital journeys.
This is particularly the case for those companies with quirks or specific systems that might be unsupported as Stuart Favier, Insurance Client Manager at Northdoor plc explains:
“We all know that there are ongoing delays with Blueprint Two but it is so important that companies operating within the Lloyd’s and London market do not lose hope or get too frustrated by the situation. As the investment from everyone involved, both in terms of time and budget has been huge, when the project is implemented it is critical that it rolls out well and works perfectly.
“As well as this, because it is such a fundamental change to the way that business is conducted in the market it is crucial that all companies understand and are brought along the journey as it continues. With all of this in mind, rolling out Blueprint Two without the necessary testing would be a disaster. The pause does not mean however, that companies should bury their heads in the sand and assume that this represents the end of the project.
“Indeed, the whole point of Blueprint Two is that a digital approach is inevitable. Most other sectors are already operating within a digital environment of some form or another. Therefore, companies operating in the Lloyd’s and London market should be continuing with their digital journey, rather than taking this latest delay as a signal to pause or stop.
“This is particularly the case for companies with unique or specific messaging requirements which are currently set to be unsupported in Phase One. With many of these systems already complex, moving them to a digital environment can be extremely challenging. Some are turning to third-party consultancies that can offer the expertise and support that companies moving to a digital environment need. This helps to ensure that not only are companies ready for when Blueprint Two rolls-out, even with complex or specific systems, but they are also operating within a digital environment and experiencing all of the benefits that come with it.
“Digital is inevitable. Instead of using this delay as an excuse to stop work, they should instead use it as an opportunity to push forward, gain a competitive advantage and begin to enjoy the benefits of digital working,” Favier concluded.
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