“Delivering world class Market Services to the London Insurance Market.”

LIMOSS works closely with the IUA, Lloyd’s, LMA and LIIBA – plus their members – to identify and prioritise common business problems experienced by multiple firms. These problems may exist in underwriting, claims, exposure management, operations, finance, or any other area of specialty insurance.

LIMOSS then works with the market and insurance IT vendors to identify potential solutions. Once the market has selected a preferred solution, LIMOSS ensures contractual alignment between the vendors and all market firms wishing to use the service. Live services are closely managed for availability, security, change control, customer support and value for money. When the market no longer needs a service, LIMOSS ensures it is safely retired.

Whilst its core business is the provision of market services, LIMOSS also provides specialist services to the London Market – such as contract oversight; and Co-ordinated Customer Testing (CCT) for Blueprint Two.

Most services are used by Lloyd’s Managing Agents and IUA Company Carriers. Some market services may also be used by LIIBA Brokers or third parties such as TPAs/DCAs. Most services operate exclusively within the London Market.

LIMOSS does not choose which services to offer the market, nor which vendor will provide a service. All decisions about services and their providers are made by appropriate market governance groups, with representatives drawn from across the relevant firms.

For market firms, LIMOSS delivers economies of scale and experienced oversight of shared IT solutions. It also provides a common contractual model for firms to access a wide variety of services. For vendors, LIMOSS allows access to all market firms through a single contract. LIMOSS can also help vendors manage their cashflow by collecting charges directly from Lloyd’s Syndicate Trust Funds to ensure vendors are paid on time and in full.

LIMOSS works transparently to source vendors capable of working in the demanding world of speciality insurance. Some vendors are historically trusted within the market, whilst newer companies may be suggested by market members or Associations. All companies must pass rigorous due diligence. LIMOSS may invite RFI/RFP submissions but does not accept unsolicited approaches from vendors.

For most LIMOSS services, a Market User Group (MUG) and a Steering Group (SG) will exist to ensure market oversight. Market firms wishing to join a group should contact the LIMOSS Service Desk.

The governance structure is outlined in the LIMOSS Corporate Governance statement

LIMOSS is an acronym of ‘London Insurance Market Operations and Strategic Sourcing’.

LIMOSS has 4 core values:

1. Transparency: LIMOSS is not-for-profit and is funded by scores of market firms who need to know it delivers value for money and operates to high standards.
2. Professionalism: The market needs LIMOSS to operate to high professional standards in its sourcing and oversight of Market Services.
3. Independence: Competing carriers, brokers and suppliers must have absolute confidence that LIMOSS is not in anyone’s pocket.
4. People: LIMOSS must set an example to suppliers of how the London Market expects firms to operate, providing high standards of care and respect for their people.

LIMOSS is a small team of permanent employees and contingent workers. Unsolicited CVs and job applications are not considered and, due to limited resource, such applications will not be acknowledged. Similarly, LIMOSS does not accept approaches from recruitment agencies.

Available roles are advertised on the LIMOSS LinkedIn page. When recruiting, LIMOSS is committed to fairness and equal treatment regardless of an individual's protected characteristics including race, religion, gender, sexuality, age, disability, or other factors.

Applicants are advised to be familiar with the background information available on the LIMOSS website before attending an interview. LIMOSS are happy to make any reasonable adjustments to support applicants through the interview process and throughout their time with LIMOSS.

London market firms can find out more by speaking to their relevant association, or by contacting the LIMOSS Service Desk.

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