TOM priorities for 2016 agreed - FREE

TOM priorities for 2016 agreed - FREE

The blueprint for the Target Operating Model (TOM) project will be ready by June, the London Market Group (LMG) has stated.

The steering board for TOM has agreed “to prioritise three key initiatives”, following a meeting held today.

The priorities are: Placing Platform Limited (PPL); Central Services Refresh Programme (CSRP); and Delegated Authorities; “plus one enabling project focusing on data management”.

Lloyd’s CEO Inga Beale, who chairs the London market TOM steering board said: “This morning was the first time the TOM Steering Board has met, and there was full attendance of cross-market representatives.

“There was extensive discussion on the TOM priorities and funding for 2016 and beyond, and I am delighted that there was agreement on progressing three key initiatives, enabled by one touch data capture,” added Beale.

The ongoing blueprint work will continue “in parallel” to the announced priorities, noted the LMG’s press release.

“The blueprint will clarify the business case, scope and timelines for the TOM, and will be based on the analysis of the findings from the TOM market consultation programme run at the end of Q4 in 2015. The blueprint will also consider other potential TOM initiatives, which may be deferred to future years,” said the LMG.

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