Innovation Labs

The Innovation Lab brings together individuals from across BMS to help drive change and innovation within the company and wider insurance industry. Its focus is to embrace new technology and business approaches to generate ideas, drive efficiency and deliver the best possible outcomes for our clients.

The launch of Innovation Labs epitomises BMS’s client-centric thinking and approach, challenging industry norms and employing technology that is rapidly changing our industry. We are declaring our intent to remain at the forefront of innovation in our industry as we deliver further targeted, bespoke solutions to our clients.

Nick Cook, CEO

What's Going On

BMS hosts one year Innovation Lab anniversary event 26/03/19

Held at the Lloyd’s Lab, a modern space within a hugely historic setting, the event was attended by a cohort of innovation and industry enthusiasts. BMS’s Head of Innovation Ryan Jones and Emanuele Colonnella, Head of Project Management Office, gave an overview of what the Innovation Lab has achieved since its launch one year ago, as well as the focus for the rest of the year. The group also heard from Hamzah Chaudhary of Cytora, a technology company which specialises in the use of Artificial Intelligence (AI) in commercial underwriting and Jeff Manricks of Shift Technology, who spoke about the automation of insurance claims using AI. The event finished with drinks and networking in the iconic Lloyd’s of London building.

BMS and the LMA introduce Design Thinking to the market 30/10/18

In conjunction with the Lloyd’s Market Association (LMA), BMS co-hosted a workshop around ‘how to innovate’ which was run by Pancentric Digital and attended by over 20 professionals from the market. Held in the Lloyd’s Lab - Lloyd’s’ answer to the Innovation Lab - Head of Innovation at BMS, Ryan Jones, kicked off the event by sharing BMS’s experience and application of Design Thinking so far. Peta Kilan, Senior Executive in Market Operations & Innovation at the LMA then handed over to Pancentric who facilitated discussions around how to solve meaningful challenges and address customer needs. With further viable business ideas generated, the event demonstrated how great things can come from a range of perspectives and experiences.

BMS hosts Design Sprints meetup at London HQ 25/10/18

Taking staff out of their role for five days to participate in a Design Sprint is expensive but considering it might take two to three months to complete the same work, it may be worth it. This was just one of the views from a fantastic line up of speakers who presented at a recent InsurTech meetup, hosted by BMS. Others argued that you cannot transform an organisation by focusing on a method - in order for such techniques to be useful, there needs to be the right culture and a programme of continued customer development. The conclusion? Sprints are a great tool for rapid idea generation, but not the only tool in the box.

BMS sponsors pioneering Insurance Innovation conference 21/9/18

Market Minds’ Insurance 3.0 conference took place in London and was attended by over 850 entrepreneurs, business leaders, investors and insurance professionals. BMS sponsored the event alongside Pancentric Digital and hosted two sessions which explored how design thinking methods can foster innovative incentive for Insurance digital transformation. BMS COO Adam Stafford also presented a case study on our approach to innovation and journey so far. We are proud to have been part of the event and journey to promote the engagement, discovery and development of big ideas.

Virtual Reality comes to BMS 26/07/18

Staff were transported to a near-realistic, interactive experience, including flying cars and robot simulations, using an Oculus headset. The aim was to explore how Virtual Reality can open up new possibilities and use these technologies to project real life situations, identify damages and potential risks, adding value in a new way. Could this be the future of working?

Innovation lab Session #2, With Guest Speaker Simon Walker 24/04/18

Held at the BMS London HQ, we welcomed guest speaker Simon Walker to the second Innovation Lab session. Simon, who is an expert in how to lead people through disruptive, technological, social and demographic change delivered an insightful presentation which focused on ‘The Future of Work and Leadership.

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Insurtech London Introduces BMS Innovation Lab 19/03/18

BMS has recently joined the growing ranks of London insurance market players supporting the InsurTech movement. Head of Innovation at BMS, Ryan Jones, took the opportunity in the form of a "Shout Out" at InsurTech's event, helping the room of nearly 200 understand how a wholesale broker with a long tradition in reinsurance is actively engaging with the future of insurance.

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BMS Hacks Kpmg Hackathon Event 19/03/18

BMS sent two reps from the Innovation Lab to KPMG's recent Hackathon Event in London. The aim of the event was to address the question – ‘In 2030, what will the world need protecting from?’ 24 people from across the insurance industry – underwriters, brokers, reinsurers, consultants – took up the challenge set up by KPMG to come up with some answers. Simon Meech, a recent addition to the cyber team fought the good innovative fight but it was a Director from our reinsurance brokering side, Ed LeFlufy, who helped his team win the event.

BMS Launches Innovation Lab 15/03/18

To support the launch of BMS Innovation Lab, we enlisted the help of Pancentric Digital Innovation Consultants. 20 representatives from every single corner of the business broke through traditional business silos to engage in a Design Thinking Ideation Workshop and come up with four viable business ideas among hundreds of sticky notes and drawings on the walls.

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As we keep pace with emerging technology and a finger on the pulse of InsurTech, we look forward to updating you as the BMS Innovation Lab evolves.

Press Releases

BMS Innovation Labs Launched In Transformation Drive 15/03/18

BMS Group Limited (BMS), the independent specialist insurance and reinsurance broker, today announces the launch of BMS Innovation Labs, a platform to drive change and innovation within the company and the wider insurance industry.

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Insurtech Events

Ryan Jones
Ryan Jones Head of Innovation
Adam Stafford
Adam Stafford Chief Operating Officer