Lloyd’s says a new corporation operating model to be introduced next month will sharpen its focus and help it deliver the Vision 2025 strategic plan more efficiently.

It has outlined a range of team changes in areas such as oversight, compliance, innovation and data.

“These changes are about making it easier for us to play the role the market expects,” CEO Inga Beale said. “Namely protect, promote and provide the services they need.”

She says the new structure and various future initiatives will reduce duplication and free up teams to address issues and opportunities, ensuring Lloyd’s remains at the heart of global insurance and reinsurance.

Changes include the establishment of a syndicate capability oversight team, bringing together market supervision teams working directly with managing agents.

Peter Montanaro will lead the new team, under Jon Hancock’s performance management division.

A new policyholder and third-party oversight function, led by Paul Brady within performance management, will integrate teams such as delegated authorities, claims, and conduct and complaints.

Regulatory and compliance activities will be aligned within the risk and regulatory division, led by Chief Risk Officer Hilary Weaver.

A new innovation team, under Vincent Vandendael’s commercial division, will be established under Trevor Maynard to focus on innovation in the Lloyd’s market and corporation.

Data-led activity will be consolidated into the DataLab – a centre of excellence led by Helen Crooks as part of Shirine Khoury-Haq’s operations division.