The London Market is entering a new phase of transformation.
Last week, Lloyd’s announced a revised timeline for Blueprint Two, with a clear focus on balancing ambition with operational resilience.
The New Timetable
Patrick Tiernan, the new Lloyd’s CEO, confirmed that:
- Existing systems will be supported through 2030 and beyond to ensure stability.
- Market testing of new platforms will not begin until 2026.
- Full cutover is unlikely before 2028.
This update reflects the scale and complexity of re-platforming the market, with hundreds of counterparties, 300 million messages, and a quarter of a trillion pounds flowing through systems every year.
Extensive testing and rehearsal phases are required to safeguard the market.
Commitment to Change
Despite the extended timeline, Lloyd’s message is clear: re-platforming remains mission critical.
As Tiernan noted, “We compete globally brilliantly in underwriting and distribution. But we don’t compete yet on operating systems. We must do it.”
The programme is no longer just about replacing legacy systems; it’s about enabling the market to work differently, with better data standards, lower costs, and more competitive operating models.
Why This Matters for Brokers Today
While 2026 may feel far away, now is the time to prepare.
Brokers and intermediaries who reduce their reliance on Word, Excel, and email – and start working with structured, shareable data – will be in the best position when integration arrives.
That’s exactly what we’re enabling with our inFOCUS platform: modernising workflows today so you’re not playing catch-up tomorrow.
Looking Ahead
At gpm, we welcome Lloyd’s clarity and transparency on timelines. The path may take longer, but the destination hasn’t changed.
With Blueprint Two Phase 1 build nearing completion in 2025 and the market-wide transformation to follow, we’re committed to supporting brokers through every step, helping you focus on relationships, not administration.
gpm deliver intuitive, easy-to-deploy cloud-based insurance broking solutions.
Interested in finding out more about gpm’s inFOCUS range of apps? Contact us today.