Data and Reporting processes are effective
- Executive ownership assigned by managing agent board (examples include chief information officers and finance directors).
- All other managing agent teams involved in data/ analysis/ reporting/ tools/ MI infrastructure identified.
- Business plans team/virtual team is identified and ensure that data processes are fully reflecting agreed plans.
- Data collection, data modelling and reporting processes are set out, owned, linked and proactively managed.
- Operational and compliance risks have been identified and controls are in place.
- Timeliness of reporting…reporting calendar etc.
- Source of any significant errors identified and process(s) amended.
Data infrastructure
- IT owner(s) of information systems identified.
- Systems capable of meeting requirements are in place/ planned.
- Analysis and modelling tools are in place/ planned.
Skills and experience
Personnel with relevant experience in place:
- Familiarity with systems, processes and tools.
- Recognition of Lloyd’s/ London market groups and external service providers who could assist with data solutions.
- Inclusion of any tools/ techniques suggested by Lloyd’s as ‘business partner’ (eg modelling s/ware options).
