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Building a workforce that is fit for the future – that is the London Market Group’s (LMG) vision as it moves further in its ongoing initiative in future-proofing the market.
Launching the Future Workforce Think Tank, the LMG said recommendations will be developed in response to the challenges being faced by the workforce amid technological disruption. KPMG will support the work of the think tank.
“In 2016, we undertook research to investigate the changing skills required for London to retain its pre-eminent position in the global insurance market as technology changes the way we all work,” noted LMG chief executive Clare Lebecq (pictured). “The results highlighted the fact that digital and technology developments are a key influencer on future skills, and London was not well prepared for the changes the future will require in these areas.
“We have completed a first phase of work to assess the impact of electronic placing on broking and underwriting skills; launching the think tank is the next stage. Essentially, it will look [at] the key trends and technology disrupters that will impact the shape of the future workforce.”
The full report is targeted for release in the spring of 2019. It will set out what actions should be taken by the London market to ensure that the workforce is future-ready.
“Leveraging expertise from market colleagues who are already assessing what the future might hold and digital experts, it will also analyse how the skills required will be affected and undertake a deep dive into the impact on core London market roles – as well as looking at the effects in the medium to long term,” said Lebecq.
