About
Atlas is an online market system that will make the process of managing coverholders faster and more efficient whilst raising standards.
Atlas deals with three main areas of coverholder activities:
- New coverholder applications, including branch applications.
- Changes to coverholder permissions that are applied centrally by Lloyd’s.
- Annual compliance data that can be made available to all interested managing agents and Lloyd’s brokers.
It is only this compliance and permission based data that is held. Atlas does not collect any data on individual contracts or policies.
Benefits of Atlas
Atlas provides a number of benefits to the market:
- Reduced duplication, increased availability – Atlas allows the central storage and sharing of coverholder compliance information across the market reducing the burden placed on coverholders by many different agents and brokers requesting the same information.
- Transparency of process – The completion of applications, both for new coverholders and changes to permissions, via Atlas is a transparent process for all parties, including the coverholder. This removes some of the mystery of doing business with Lloyd’s.
- Ownership of data – The market are able to see the same source of information that Lloyd’s, including international representatives, have access to and can make or request changes to it.
Who can use Atlas?
Lloyd’s
The main Lloyd’s users of Atlas will be the Delegated Authorities Team (DAT) whose responsibilities include the approval of new coverholders and changes in coverholders permissions.
Other users within Lloyd’s, including Lloyd’s international representatives will have read only access to the system.
Managing Agents & Lloyd’s brokers
All managing agents and brokers will have access to Atlas. Coverholder data can only be accessed where the managing agent or broker has a relationship with the coverholder.
Coverholders
Lloyd’s objective is to provide all existing coverholders with access to Atlas where possible. Where new applications are completed on Atlas the applicant coverholders will be required to have access to Atlas in order to complete the process.
