It is rarely technology that is the key to innovation and success. History is full of superior technology that bit he dust.
It needs vision, strategy and leadership that can explain why change is needed and has the answers as to how.
Technology is the means to that end and it is refreshing that John Neal is taking this approach.
“You have to consult widely and make sure the solution is utterly fit for purpose . . . but when you do that you have to draw a line and say ‘this is the way we’ll do it’,” said Mr Neal."
Lloyd’s of London chief executive John Neal said he is prepared to force through his proposed changes to the world’s leading insurance market, even if some of them face opposition. Mr Neal unveiled a series of measures in May designed to cut costs and pull more business into Lloyd’s. They included splitting the market into two, with one online system for standard policies and another system for more complex contracts. Mr Neal said on Thursday a 10-week consultation process had revealed plenty of support for his ideas. But he added that, once the next steps had been decided, brokers and underwriters, who negotiate the policies, would have to sign up.