Lloyds Insurers Testing iPads

Lloyds of London is testing Apple's iPad as a potential replacement for the paper slips that contain information on the insurance policies sold at the market.

According to the Financial Times, brokers at the centuries-old insurance broker will be trying out the tablet device to improve work efficiency and as a secure and fail-proof method of handling sensitive customer information.

The FT reported that currently three Lloyds brokers, namely Marsh, Cooper Gay and RK Harrison, are participating the iPad trials.

The tablet device will allow the brokers to carry all the required documents needed to negotiate a deal with underwriters.

The insurer market believes that by making strategic technological inclusions in the day-to-day operations of the brokers, it could revolutionise the way insurers deals are done.

“By simply replacing the paper with something easier to carry, but which allows amendments and links to other services, we continue to support the underwriting and face-to-face negotiation that makes Lloyd’s unique,” said Sue Langley, Lloyd’s director of market operations, in a statement to the FT.