There have been challenges recently about whether we're innovating enough in the London Market. This stirred up a debate...What is innovation? How do you innovate and what innovation is the London Market engaged in? This article goes into these areas and many more too.
There is a realisation, with the ever increasing pace of technology change that the London Market needs to be more innovative in order to remain competitive and continue to develop its market reach. This has been spurred on by a report published in 2014 which highlighted a number of challenges – including increasing costs, regulatory burdens, retention of market share and developing emerging markets. Nothing that different really from other sectors but there was consensus that the market as a whole needed to respond to the challenges and from this the London Market Target Operating Model (LM TOM) was established