Long gone are the days of Lloyd’s Coffee House, where the risk was assessed and coverage granted based on the best available information, carried indirectly from the high seas. In those days, all available information was conveyed in a matter of minutes over a mug of rum. Relationships were built and maintained through face-to-face interactions and competition was non-existent. Customers were uninformed and without options, so they kept coming back.
Today’s environment is very....