Austyn Tusler, Barbican Insurance Group: “It is clear from these findings that the London Market is set to undergo a period of unparalleled change over the next decade.

Austyn Tusler, Barbican Insurance Group: “It is clear from these findings that the London Market is set to undergo a period of unparalleled change over the next decade.

Barbican commissions “next ten years” London market study

23 November 2017

Lloyd’s insurer Barbican has celebrated its ten-year anniversary today (23 November) by commissioning a year-long study into how the London market may evolve over the next decade.
 
The Carlson Capital-owned (re)insurer has commissioned Imperial College, one of the UK’s leading science and post-graduate universities, to investigate what will be the drivers for change, including potential disruptive forces.
 
According to the insurer, Barbican aims to conduct “deep-dive assessments” with Imperial Business Partners (IBP) team, of the impact of new capabilities such as machine learning and AI, the evolution of digital trading platforms, and market disruption by external players - as well as examining some of the potential limiting factors to market modernisation.
 
The insurer separately commissioned a modernisation survey with London market participants, which found that 60 percent of respondents believe the insurance markets will be “greatly or very disrupted” by external companies, such as Amazon, Google or Tesla.
 
Austyn Tusler, head of group strategy, Barbican, said: “It is clear from these findings that the London Market is set to undergo a period of unparalleled change over the next decade. Since our launch in 2007, Barbican has witnessed - and been part of - substantial market evolution, but the next decade will undoubtedly ramp up the speed of change significantly." re

 > Look out for Reinsurance’s “ten year” video project which will be released next week and includes interviews with the leading broker executives of the London Market.

 

 

 

 

 

 

 

 

 

 

 

 




 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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