30 August 2005 – Jardine Lloyd Thompson (JLT) has become the fourth major broker and 21st business to back Kinnect, the electronic platform which securely exchanges risk data and wordings between brokers and underwriters.
JLT, the UK’s third largest broker, has pledged its support for the platform which also has the backing of underwriters representing more than 60 per cent of capacity at Lloyd’s.
Dominic Burke, Chief Operating Officer of Jardine Lloyd Thompson, said “JLT is pleased to put its full support behind Kinnect. The Kinnect platform will not only bring significant benefits to our business, but just as importantly will help the continued drive for greater efficiency within the London market.”
Kinnect Chief Executive Toby Davies said: “JLT is a major player in the Lloyd’s market and their support demonstrates once again that Kinnect is the platform of choice for businesses as they look to find a solution to the problems of connectivity and lack of efficiency that have dogged the market for too long. Kinnect’s role in reforming the market is clear – delivering greater efficiency, security and speed in insurance transactions. Working with the 21 businesses backing us, we continue to make excellent progress towards that goal.”
JLT joins brokers Marsh, Willis and Guy Carpenter, and underwriters ACE European Group, AEGIS, Amlin, Ascot, Beaufort Underwriting, Beazley, Cathedral, Catlin, Chaucer, Hiscox, Liberty Syndicates, Markel, QBE European Operations, St Paul Travelers, SVB, Talbot, and Wellington.
Kinnect is a Lloyd’s sponsored business that facilitates the electronic capture and transfer of risk data between brokers and underwriters to lock down contractual terms including risk disclosures. Recording transactions properly aids regulatory compliance, improves the speed and efficiency of settlement and claims, reduces legal disputes, and therefore improves contract certainty. Visit the Kinnect web site at www.kinnect.com.
The Jardine Lloyd Thompson (JLT) group of companies is a leading risk management adviser and an insurance and reinsurance broker. JLT is also a major provider of employee benefits administration services and related consultancy advice.
JLT is quoted on the London Stock Exchange, is the largest European headquartered company providing these services and is one of the largest firms of its type in the world. JLT operates out of more than 100 offices in over 30 countries and employs more than 5,000 personnel.
For additional information on JLT please visit www.jltgroup.com.