Well before the “Future at Lloyd’s” project, the market began pursuing modernization, Chairman Bruce Carnegie-Brown noted.

For example, the market has been pushing to digitize the way risks are submitted in the marketplace. It is developing straight-through processes for the placement of risk and the paying of claims through its electronic placing platform, PPL, and it launched an in-house innovation accelerator, called Lloyd’s Lab, that is focused on designing technology-driven solutions, he said.