We seem to be working hard to hide the exciting and potentially game changing news of the formal announcement of the Lloyd's/TOM innovation forum.

The only easy-to-find news article sits behind the Insurance Day paywall (link below), while neither the Lloyd's nor LMA sites had a copy as of 10 March.  So the only place it seems to be is on the isupportTOM.london site which also requires a login (albeit at no charge)

To facilitate things until we've got that all rectified, below is a copy of the 9 March press release, including details of the competition to rename the innovation council.

Comments on the scale of this bold opportunity will follow from the usual commentators over the coming days.

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Press release: TOM Steering Board creates a focus on innovation

9 March 2016: 

Following the most recent meeting of the Target Operating Model (TOM) Steering Board, the London Market Group today announced a number of steps to put innovation firmly front and centre of the modernisation programme. 

These include:

• The creation of an Innovation Forum which will act as an incubator for new ideas from theUnder 35s community

• A network of technology evangelists consisting of experienced market practitioners, thoughtleaders and external experts who will help introduce and assess the potential of new ideas

• A council to consider and channel ideas that are submitted so that they are aligned with theTOM priorities

The council will be led by Justin Emrich, CIO at Atrium and the community will embrace collaboration technology so that everyone involved can submit, review, debate and score ideas.

Justin Emrich said: “It is vital that the TOM looks at both longer term step changes in the operating model, as well as short term technology fixes. This is why we want a structure that will act as a focal point for attracting innovation, challenging existing thinking and embracing disruption. It will drive the ongoing development of ideas from inside and outside the market, evaluate their value and integrate the best into the way we work.

“The first challenge will be to name the council to reflect the creative and dynamic environment that we are building. We will ask the market for suggestions over the next two weeks to kick start the programme.

To pitch your name for the council that will lead the innovation charge in the London Market -please go to https://www.sli.do/4qqkz33f

For more information please contact:

Caroline Wagstaff, Luther Pendragon | Tel: 020 7618 9158