Forum aims to help the market work smarter
Posted by Adam Stafford | Market Development on Friday 12 August 2011, 10:38AM Share
Lloyd’s is hosting the second Coverholder Technology Forum in September.
The Forum will give brokers, managing agents and coverholders a chance to discuss how we can work smarter and see a variety of software solutions that can help make delegated business cheaper and easier to run.
Coverholder reporting was generally not in a good state 18 months ago.
Coverholders were being asked to report information to London in a variety of different formats to each syndicate, at different levels of detail and using different templates – and information was being re-keyed several times and took many weeks or months to be processed. This was onerous for the coverholder and often resulted in delayed and incomplete data for stakeholders in London.
It was recognised that to make coverholder’s lives easier and to make use of technology to share this information more effectively we needed to agree a standard set of reporting data across the Lloyd’s market. As I reported in my last blog this has now been done and the full suite of standards has now been live for almost six months.
Now that these standards are in place we are working with the market to help them choose the technology solutions that best suit their needs. To this end we are running the second Coverholder Technology Forum at Lloyd’s on 29 and 30 September.
We hosted the first such event in November 2010 and the feedback was so positive we decided soon afterwards to run a second, larger event this year.
At this year’s event we have 20 solution providers with stands in the Captain’s Room and a series of panel discussions, presentations and networking events planned across the two days.
Visit www.lloyds.com/coverholdertechnologyforum to find out more about the agenda and register.
If you’ve any questions, please email CoverholderTechForum2011@lloyds.com
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