My friends over at trust fiducia.com have been blogging about Lloyd’s and its ability to keep up with the pace of change in the insurance markets particularly as the business of the world shifts from tangible assets (e.g. an oil rig) that can be physically protected to intangibles that may not even have any fixed location (e.g. anything with Cloud in its name).
Here’s the big question: much as the stock markets went from two tiers of jobbers and brokers to a single tier of market makers in the disruption of Big Bang in the 80’s, will we see the traditional split between underwriter and broker be totally disrupted?
As the blog post puts it:
Why would you need them – how much do you pay your post man to deliver your mail?
Take a look at the original post here