Lloyd’s - need to do more R&D
Monday, 02 08 2016, Category: Insurance and Reinsurance, Country: United Kingdom
Lloyd’s should put more work into research and development (R&D) if it is to innovate more successfully, chief executive Inga Beale has admitted. Discussing the World Economic Forum (WEF) 2016 global risk report, Beale noted the industry had a tendency to muddle through rather than centrally organise its innovation – something she wants to do at Lloyd’s.
"We need to do more R&D. We need to invest in R&D, to look at the risks and ask how we can help people, businesses and communities, in terms of product development and building resilience," said Beale. "This may be through more consortia."