The shift in focus to the Velonetic platform was meant as a cautious transition from a big bang implementation to a more phased, incremental approach. Moving away from a single, high-risk cutover is not necessarily something negative, it can actually reduce systemic risk. However, the success of this path depends entirely on the clarity of the new strategy, the roadmap, and the specific scope of the changes. What people in the market say, however, is that Blueprint Two was still handled too much in a “Big Bang” approach instead of delivering and sharing new functionalities on an ongoing basis. More frequent show-and-tells with the market would have allowed to gather feedback from the market and address gaps earlier.

We must remain mindful that the London Market relies on the balance of co-dependent parties. Any shift in the central platform's delivery may alter the balance of influence across the market. We hear from people involved that often there was a lack of sufficient understanding of business processes at Lloyd’s among the teams who were managing the project. In addition, the technical complexity and significant gaps in legacy documentation were underestimated. One of the lessons for the market may be the critical importance of the discovery and preparation phase. Thoroughly reviewing existing resources and technical debt might seem like an overkill in terms of time and budget, but it is essential for setting realistic milestones and establishing the standards necessary for a project of this scale.ng claims to new policies within ClaimCenter entities.