Lloyd’s has teamed up with a group of UK brokers to test out the new Apple iPad in its underwriting room.

Marsh, RK Harrison and Cooper Gay will try out the iPads as an alternative to cumbersome underwriting papers that currently make up most of the detailed insurance contracts handled by Lloyd’s.

Lloyd’s spokesman Bart Nash says tablet technology such as the iPad “can replicate the paper process almost exactly”.

“It supports the drive for Lloyd’s to be a modern and efficient place to do business,” he told insuranceNEWS.com.au. “It also has the potential to support initiatives such as electronic messaging in the future.”

Sue Langley, Lloyd’s Director Market Operations says the trial is a logical “next step in applying technology in the market”.

“This is a small, simple pilot – literally an iPad out of the box,” she said.

“By simply replacing the paper with something easier to carry, but which allows amendments and links to other services, we continue to support the underwriting and face-to-face negotiation that makes Lloyd’s unique.”

The iPads will become electronic slip cases, enabling brokers to take documents to market electronically. They can then review documents with underwriters and annotate as needed.

Marsh CEO Martin South says his company is “committed to ending the inefficient practices” of the London insurance market.

The trial starts this month and is expected to last for three months, with more brokers coming on board soon.