The London Market Joint Ventures, which have been providing business process services to the London insurance market for more than two decades, will now be headed by new chief executive Chris Halbard (pictured right) with the support of board member Ray August (pictured left).
“It’s an honour for me to lead the London Market Joint Ventures into the next era as we play a critical role in helping insurance companies modernise their legacy systems while optimising for the future with applications running in the cloud and utilising the latest AI (artificial intelligence) models,” Halbard said in a release.
“It’s an exciting time for me to lead this amazingly talented and highly experienced team to ensure we deliver maximum value to customers and shareholders.”
Consisting of XIS (Ins-Sure Holdings Limited) and XCS (Xchanging Claims Services Limited), the Joint Ventures are a collaboration between DXC Technology, Lloyd’s, and the International Underwriting Association (IUA).
Halbard previously served as president of DXC’s business in the EMEA (Europe, the Middle East, and Africa) region, while August is currently president and global lead for DXC insurance software and business process services.
August declared: “Together, with Lloyd’s and the IUA, we are building a data-first, agile, and secure London and global specialty insurance marketplace fully aligned with the vision outlined in Lloyd’s Blueprint Two.
“I’m delighted to assume an increased role and will reinforce a common goal with clear accountability across all stakeholders. Through this ongoing collaboration and teamwork, we will turn this vision into reality.”
Meanwhile Lloyd’s chief operations officer Bob James, who believes the appointments will strengthen the Joint Ventures, described the duo as having been important and active advocates.
“Chris, the entire JV board, the IUA, and Lloyd’s are committed to the successful delivery of Blueprint Two which will enable a better, faster, and cheaper set of services in a digital and cloud-based environment where structured and standardised data is the core of how the market will operate in the future,” he said
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