There is an interesting article I read in today’s Wall Street Journal http://online.wsj.com/article/SB118696052762295422.html (Reg Req. Sorry) about Lloyd’s that I thought I would mention. There were a couple things that stood out to me:
- Kudos to Lloyd’s for having vision to hire talent over experience. Their CEO Richard Ward, had no previous experience in insurance but a proven track record of problem solving. Insurance companies tend to be some of the most closed organizations to outside talent in business.
- Mr. Ward is waging a war against paper to gain efficiencies. He estimates Lloyd’s was generating 4 tons of paper EACH DAY.
After reading the article, I was wondering if any of you had any stories about companies that seem to have good long term strategies for dealing with paper?