Wednesday, July 25, 2007
Jul. 25, 2007 (M2 Communications Ltd. delivered by Newstex) --
LONDON - Leading insurance market Lloyd's, in partnership with Priocept, has announced the launch of Crystal - a web based application providing global insurance trading and taxation information to Lloyd's market participants.
The new service is available to managing agents and brokers and provides a number of innovative features to streamline business processes around international compliance and taxation regimes.
Crystal replaces the previous library of pages and PDF documents, and allows real-time query and comparison of specific legislation and Lloyd's trading information for more than 280 countries worldwide.
With design and development undertaken jointly between Lloyd's and Priocept, Crystal represents a step change in the services provided via www.lloyds.com.
'Our aim is to make lloyds.com the definitive source of information for our market participants, and Crystal is the next step towards achieving this,' said Jo Scott, senior web manager at Lloyd's. 'We know that web-based services such as this are vital for our market to maintain its competitive advantage and keep its position as the world's leading name in insurance.'
Crystal is the first service to take advantage of the new lloyds.com platform, which features a pluggable single-sign-on framework and advanced content management functionality.
Priocept will continue to assist with such product development activity throughout 2007 in partnership with internal Lloyd's development staff. This model has proved successful and been enjoyed by both parties.
'We are now seeing www.lloyds.com moving from important to imperative as an information service for the insurance market. Our prior work with Lloyd's on the core web platform has enabled the rapid development and launch of Crystal, which is already proving a big success amongst its user base,' commented Greg Murray, principal consultant and co-founder of Priocept.
About Lloyd's of London
Lloyd's is the world's leading specialist insurance market and expects to have the capacity to write approximately GBP16bn of business in 2007. It occupies sixth place in terms of global reinsurance premium income, and is the second largest surplus lines insurer in the US. In 2007, 72 syndicates are underwriting insurance at Lloyd's, covering all classes of business from more than 200 countries and territories worldwide.
About Priocept
Priocept is a UK-based technology consulting firm that helps its clients to manage internet technology projects and build internet based products and services. For more information on Priocept visit www.priocept.com.
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