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STATE OF THE MARKET SURVEY

The global insurance and reinsurance market is facing unprecedented disruption. New risks and threats, painful underwriting processes, innovative technology, new distribution models, increasing regulation, emerging market entrants, and changing customer expectations are just a few of the key challenges.

The launch of a once-in-a-generation market reform initiative in the form of Lloyd’s Blueprint One will fundamentally change the way business is done in the London Market.

This year, we have seen improved pricing across a broad range of lines and major risk appetite changes at big market players, deteriorating back-year loss trends and reserving worries. Continued catastrophe activity and lingering retro, ILS and traditional reinsurance market capacity questions that still need to be answered are also impacting the market.

As we enter 2020, we want to understand your perspective on a range of drivers shaping the market. The State of the Market survey, in partnership with AdvantageGo, will only take five minutes of your time. Your name and company name will remain confidential and any comments made in the survey that may be used in the final report will not be personally attributed.
1.What kind of firm do you work at?(Required.)
2.What is your job function?(Required.)
3.How many years of experience do you have in the (re)insurance market?(Required.)
4.What is your initial reaction to the publication of the Lloyd's Blueprint One transformation plan?

Which of the following statements best fits your view?(Required.)
5.Rank the prime components of Lloyd’s Blueprint One according to your view of which most needs to be prioritised.(Required.)
Not urgent at all
Mildly urgent
Moderately urgent
Severely urgent
Extremely high priority and urgently required
Complex risk platform
Lloyd's Risk Exchange (high-volume, low-premium risk)
Claims solution
Capital solution
Syndicate in a Box
Services hub
6.Rank the supporting components of Lloyd’s Blueprint One according to your view of which most needs to be prioritised.(Required.)
Not urgent at all
Mildly urgent
Moderately urgent
Severely urgent
Extremely high priority and urgently required
Underwriting performance
Data
Technology
Modern syndication of risk
Culture and people
A refocused Corporation of Lloyd's
7.Now there is a cohort of 'Unicorn' start-up underwriting companies (valued at over $1bn), how has this changed attitudes to technology and research and development in incumbent (re)insurance businesses?

Which of the following statements best matches your view?(Required.)
8.What is your view of the state of pricing in the global insurance market today?(Required.)
9.What is your view of the state of pricing in the global reinsurance market today?(Required.)
10.Do less experienced underwriters possess the skills to best exploit a hardening market? *(Required.)
11.How has the application of new technologies in your day-to-day job affected you in the last five years?

Which of the following statements best fits your view?(Required.)
Strongly disagree
Somewhat disagree
Neither agree nor disagree
Somewhat agree
Strongly agree
It has been positive and helped me do my job to a higher standard
It has been positive and helped me be more productive
It has been neither positive nor negative
It has been negative and negatively affected my productivity
It has been negative and negatively affected the standard of my decision making
12.How do you think the application of new technologies will affect the industry in the next five years?

Choose only three.(Required.)
13.How do you think the application of new technologies in your day-to-day job will affect you in the next five years?

Which of the following statements best fits your view?(Required.)
Strongly disagree
Somewhat disagree
Neither agree nor disagree
Somewhat agree
Strongly agree
It will be positive and help me do my job to a higher standard
It will be positive and help me be more productive
It will be neither positive nor negative
It will be negative and negatively affect my productivity
It will be negative and negatively affect the standard of my decision making
14.What parts of an underwriter’s job can be most positively affected by the application of new technology at the company level?

Which of the following statements best fits your view?
Cannot be enhanced by technology
Enhanced by a small extent
Neutral
Enhanced to a moderate extent
Enormously enhanced
Removal of low value-add tasks
Detailed and scientific understanding of risk
Speed and agility of underwriting decision making
Cross-selling new lines
Creation of new products
Response to changing client demand
Business process efficiency
Portfolio management
Rapidly respond to market opportunities
Ability to quote more quickly
Technology will triage submissions
15.What personal attributes of an individual underwriter can be most positively affected by the application of new technology?

Which of the following statements best fits your view?
Cannot be enhanced by technology
Enhanced by a small extent
Neutral
Enhanced to a moderate extent
Enormously enhanced
Knowledge
Understanding of risk
Work ethic
Decision making
Negotiating skills
Communication skills
Consistency
Creativity and innovation
Portfolio management
Underwriting discipline
Time management
16.Name
17.Company
18.Position
19.Email