Having started his career in trade finance before spending several years working closely on the Future of Lloyd’s programme, Saidul Islam joined Ebix Europe in 2025 as an Account Manager.
Here, he discusses his passion for Diversity, Equity and Inclusion, how he is helping to close the talent gap, and his perspective on market modernisation.
You’ve spent several years working on the Future at Lloyd’s programme. Can you share a bit about your career background and how this experience has shaped your perspective on market modernisation?
My career began in trade finance, working in an operational role at Citibank within the trade finance division. In May 2016, I joined China Systems as a Business Analyst, where I worked with national and international clients implementing trade finance software in environments where change rarely happens.
In January 2020, I moved to the London Stock Exchange as a Business Development Analyst, supporting the management of selected products within the hosting and connectivity division. Eighteen months later, I was approached by Lloyd’s of London for a Market Engagement and Adoption role. Unsure exactly what the role would involve, I took the leap and spent the next four and a half years gaining first-hand experience of how the market operates.
Alongside my role, I became more involved in DEI initiatives. As someone of Muslim faith, I was asked to write an intranet blog ahead of Ramadan, but instead suggested hosting a live Q&A. Insurance is behind other sectors, such as banking, when it comes to diversity, and I wanted to do something meaningful for the next generation. The Q&A was very well received and showed that people are often curious about different faiths but can feel hesitant about asking questions.
The following year, while on paternity leave, I was approached by a Lloyd’s graduate to help participate in Lloyd’s first-ever Ramadan event. That was a huge moment. Seeing an institution like Lloyd’s host its first Ramadan event showed that meaningful change was possible.
Building on this, the Insurance Muslim Network was launched in March 2023, where I am one of the co-chairs. The network brings together insurance professionals and those new to the industry to share advice on career development and practising faith, culture, and belief at work. Although it is the Insurance Muslim Network, it is open to all beliefs, and we later partnered with Equity City to support broader talent initiatives across the London Market.
What do you see as the most important lessons for the market as it continues on its digital transformation journey?
The Covid-19 pandemic showed the market that it can use technology to operate effectively. For me, transformation needs to be incremental and value driven.
I worked on the Future of Lloyd’s programme as part of Blueprint Two, with a focus on Delegated Authority. One key initiative was a portal introduced by Lloyd’s to help Managing Agents, brokers, and third-party administrators manage submitted bordereaux. While uptake was good, many market participants were still relying heavily on manual processes.
The biggest lesson is that you cannot take a big bang approach where everything is launched at once with no transition period. Change takes time and needs to be collaborative – and it needs to deliver value. Data quality is also critical. Data must be clean and well managed for digital solutions to deliver their full value.
From your vantage point, where are the biggest opportunities for Ebix to support the London Market in the next phase of modernisation?
Ebix is very well positioned to support the London Market as digital workflows and data-first processes become more important. Our platforms reduce friction across placement, DA, claims, and accounting.
There is also a significant opportunity in analytics. Unlocking insights from structured data can improve underwriting, risk management, and overall decision-making, which is an area where many firms are still early in their journey.
Many organisations are still grappling with legacy systems and change fatigue. What do you see as the biggest challenges over the next few years, and how can firms navigate them?
Legacy systems will remain a major challenge, as they create operational friction and make innovation more difficult. Alongside that is change fatigue. After years of transformation initiatives, there is often a sense of resistance to yet another programme.
One way firms can address this is through API-driven change. This allows organisations to see tangible data integration benefits without committing to long, disruptive transformation projects, helping to rebuild confidence in change.
What one call to action would you offer to firms looking to strengthen their digital capabilities?
Address the talent gap in insurance! Digital transformation and innovation can be very attractive to younger generations, and they have a lot to offer in terms of new ideas and perspectives.
The sector’s demographic still skews older, and while this experience has been invaluable in building the market, introducing digital transformation to people who are more comfortable with manual processes can lead to resistance. By engaging with universities and early-career talent, the industry can bring in people who have grown up with technology and digitalisation as the norm.
Alongside talent, firms must invest time in cleansing, standardising, and governing their data. A strong data foundation is essential for automation and AI-driven decision-making. As AI continues to gain momentum, data governance will become even more critical. AI is not an alternative to this.
What is your prediction for how the market will shift over the next 12 months?
I expect to see a more accelerated adoption of digital placement and claims solutions, greater use of API connectivity, and a growing focus on data. Firms are increasingly realising how important data is for underwriting and performance management, and that focus will only intensify over the next year.
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