Working together, we can deliver Blueprint Two and achieve our ambition to be:
Our solutions
Delivering our solutions for the market
Better
Re-engineering the way business is transacted in the market through all aspects of placement and processing of premiums and claims
Faster
Completing the processing transactions within placement and claims in seconds and minutes, rather than weeks
Cheaper
Delivering significant cost savings through digitalisation of the marketplace, avoiding errors and rework
The power of right first time data
Blueprint Two set out the plan for delivering our vision to digitalise our insurance marketplace. Since publication, and in collaboration with the market, we have made strong progress towards our ambition to be better, faster and cheaper.
The success of digitalisation is dependent upon right first time data. Enabling accurate, standardised data to flow through the entire transaction lifecycle with minimal human intervention will be fundamental to the success of our transformation for both open market placement and delegated authority placement.
The landmark agreement between Lloyd’s, DXC Technology (DXC) and the International Underwriting Association (IUA), supported by the Lloyd’s Market Association (LMA), is a significant milestone on our journey to create new digital automated processing for the Lloyd’s and company market, and significantly enhance our claims services.
Delivering our vision for the digital marketplace
Open market
✔ Core data record
Covering all classes of business and territories
Simplifying tax and regulatory data, reducing the volume of mandatory data
✔ Intelligent Market Reform Contract (IMRC)
Allowing seamless data extraction to populate the CDR
✔ Digital Gateway
Validating data earlier in the lifecycle
Delegated authority
✔ Delegated authority data standards
Updating the core set of premiums and claims information including tax & regulatory
✔ Delegated Contract and Oversight Manager (DCOM)
Supporting facility placement and binder registration
✔ Bordereaux management
Enabling flexibility for managing delegated data flows in the market
Claims
✔ Claims data standards
Capturing data driving first notification of loss matching (FNOL) and adoption of digital messaging (ECOT)
Faster Claims Payment (FCP) solution
Facilitating fast track claims payments for delegated business
Delegated Authority Claims Status Tracker
Driving greater transparency
