Lloyd's of London should not blame technology for the failure of its electronic trading platform, according to law firm Barlow Lyde and Gilbert. The exchange pulled the plug on the £70m Kinnect system last week.
Bridget Treacy of Barlow Lyde and Gilbert, which advises members of Lloyd's, said, "It is easy to blame the technology but that is not the reason the project failed."
Simon Burtwell, head of the London market and reinsurance practice at Atos Consulting, said Kinnect was a victim of confused agendas and was dogged from the outset by the competing interests of the market's participants.
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