QA Tool
The QA Tool contains checks covering Contract Certainty, Tax and Regulatory, Lloyd's Advisory and Risk Management aspects. It has been created to assist experienced personnel to ensure that slips include all required content.
Lloyd's doesn't require you to use the QA Tool in every case, particularly where the staff involved have a high degree of familiarity with the details of the slip.
Access the QA Tool here
Crystal
Crystal is a business tool that Lloyd’s has developed to provide the market with quick and easy access to international regulatory and taxation information, helping you to fill in the gaps on a slip that, for example, the QA Tool has highlighted. Brokers can check the tax and regulatory position of a country, territory or class of business before presenting underwriters with a slip.
Access Crystal here
Lloyd's Wordings Repository
The Lloyd's Wordings Repository contains a range of vetted model wordings within an electronic filing cabinet, with extensive search capability. Individual wordings have been reviewed by market practitioners, including the LMA business panels.
Lloyd's recommends the use of vetted model wordings, where appropriate, as one way to achieve greater certainty within contracts, as well as faster review of slips. There is absolutely no obligation to use model wordings. The Lloyd's market has a licence providing all managing agents with access to this Repository and brokers, as well as other parties, are also invited to join and make use of the facility.
Access Lloyd's Wordings Repository
Wordsensa QA
Lloyd's has entered into an agreement with Adsensa Ltd, on behalf of managing agents, to provide access to Wordsensa QA software. This will assist experienced personnel to check slip content by automating the deployment of relevant Lloyd's QA Tool checks, in the form of detailed rules. Brokers and other parties are invited to utilise this service and can arrange access via Adsensa Ltd.
Wordsensa QA - Meeting the challenge of Pre-Bind Quality Assurance (Old Library presentation - 12 October 2007) (266KB, ppt)
External slip checking service providers
A number of firms are offering slip checking services to managing agents seeking external review procedures and additional skilled resources. Some providers are using Wordsensa QA to accelerate the review process, including Capita and Xchanging. Other service providers include Alphabet Group and Wordings Plus. All enquiries should be directed to the firms involved.
