The human dilemma! Each syndicate prides itself on its superior data management and analytics capabilities and implied competitive advantage. On the other hand-

 "Ensuring that participants in the Lloyd’s market have consistent sources of risk assessment data is one of the objectives of the London Market Group’s Target Operating Model (TOM), "

Justin Davies VP Xceedance June 2017

Justin makes a good case that the TOM initiative is vital and that syndicates should seek to gain competitive advantage by adding their own "secret sauce" 

Justin adds- 

"If, indeed, they do have superior ways of adding value to the data that results in outstanding underwriting, they should be only too happy to leverage their unique competitive differentiator. "

Our own experience is that many syndicates make decisions on incomplete data and are vulnerable to misunderstanding risk. They may not be immune to the Lake Wobegon effect

This is Illusory Superiority (aka the Lake Wobegon Effect, where “all the women are strong, all the men are good looking, and all the children are above average”).