Following a request from the Lloyd’s Market Association (LMA) Board, Velonetic and the Lloyd’s marketplace have decided to move the launch date of phase two of the Blueprint Two digital services (which includes the Digital Gateway) to April 2025 .
Earlier this year, it was confirmed that the Blueprint Two digitization program will be delivered in two phases, with phase one surviving a market cutover on the 1st of July 2024.
The phase two services were planned to go live in October 2024, but now move to April 2025, to meet the request of the LMA, and it is important to focus all market participants on the necessary successful cutting of the 1st of July 2024.
The move to launch phase two was driven by feedback from Lloyd’s managing agents and supported by the LMA. This will give market participants an additional six months to prepare for a successful phase two adoption and focus on a successful cut in phase one.
The construction of the technology provided by Velonetic, together with DXC Technology, the IUA and Lloyd’s, is reported to be firmly on schedule.
With the cut-off of the first phase on the 1st of July 2024, the market can confidently process two-quarters of the data through new digital solutions before continuing their journey to adopt the phase in both services, Lloyd said.
“Delivering new technology is essential to our ambition to create a digital market, moving all market participants from a 30+ year old mainframe system to a cloud-based, lig- on platform fit for the future,” said Lloyd’s.
Earlier in October, the LMA released an updated version of its playbook for managing agents to provide them with the tools and knowledge needed to implement Blueprint Two market transformation initiatives.