Through our Future at Lloyd’s strategy, we’re building the world’s most advanced insurance marketplace. Delegated Authorities business represents nearly 40% of the premium written at Lloyd’s, and our Delegated Contract and Oversight Manager (DCOM) solution is a key part of this journey.
Launched in July 2021, our first DCOM release focuses on binder registrations. It provides the platform on which we will continue to build ‘right first time data and contracts’ – unlocking opportunities to improve reporting, reduce rekeying of data, enable digital contract creation, and speed-up future claims payments for delegated authority business. Importantly, it paves the way for integration with the Delegated Data Manager system (DDM) which, when brought together, will eliminate rekeying of data.
The combination of DCOM and DDM, which will follow in Q4 2021 and into 2022, will revolutionise the management of Delegated Authority and Coverholder business at Lloyd’s. DCOM and DDM will provide an end-to-end digital solution for managing the full lifecycle of a binder, from contract registration right through to endorsements and renewal, thereby unifying, simplifying and accelerating the management and process of this business, and offering fast claims settlement for customers.
DCOM has been developed in close consultation with market associations and market firm representatives – with over 1,000 users, from more than 360 firms, registered.
If your organisation’s Devolved Administrator has completed your firm’s set up, you can access DCOM.
If you experience any challenges accessing DCOM from the link above, please try copying and pasting the following into your browser: https://dcom.lloyds.com/
Release one overview
Important information about release one, including what it means for you, and how to access help and support.
Take a look at the frequently asked questions.
Learn more about the Delegated Contract and Oversight Manager
It is a mandatory requirement that all binding authorities are registered online in DCOM. Under the Intermediaries Byelaw, all binding authorities are required to be declared to Lloyd's. This is done by registering the binding authority in DCOM. Where processing via central settlement, the binding authority contract should be submitted to Xchanging along with the slip.
Key contract manager features available now
You can now manage registration for all new contracts through DCOM. The system can perform binder validation checks at an earlier stage, leading to better quality data and less re-work.
First iteration of contract building tool
The first iteration of the optional Contract Builder tool allows you to produce digital delegated authority contracts upfront – with automated data validation checks conducted as the contract is being produced. We will continue to enhance the contract builder tool with future releases.
Endorsement aggregation and timeline view
Smart functionality aggregates all endorsements to a contract and allows users to view the full up-to-date contract version at any point in time, using the timeline viewer to confirm the contract version that was applicable at any point in the contract lifecycle.
Renewal of existing binding authority contracts
Renewals are simple to execute with a ‘one click’ renewals function.
DCOM is integrated with a number of other Lloyd’s systems, including Atlas and AiMS, providing consistent data quality and a joined-up ecosystem. The integration capabilities within the platform will allow us to continue to provide further integration opportunities with other market systems.
Key benefits when full contract manager solution delivered
The system is being rolled out in stages. Once the full contract manager solution is delivered, including integration with Delegated Data Manager, it will deliver a range of benefits for users.
- More oversight of contracts
- Real-time visibility of contract progress
- Easier to make changes and updates to contracts
- Access to better reporting, enabling richer business insights
- Ability to sign off contracts on system
- Contract data will only be entered once and be registered simultaneously
- All data is held centrally and available to all relevant parties
- Contract data is validated against QA tool rules early in the process, so there are fewer errors to correct, saving time and cost
- There is a single source of information for contract data rather than multiple, inconsistent versions
- Underwriters can collaborate real time on a contract and see what has been changed then be able to conclude contract on the same workflow
- Contract data is validated against the QA tool rules early in the process, so there are fewer errors to correct, saving time and cost
- There is a single source of information for contract data rather than multiple, inconsistent versions,
- Better quality structured data is available to support analysis and decision making
Get in touch
Help and support using DCOM
If you require support using the system, please raise a ticket with the Lloyd’s Market Support Centre
Delegated Contract & Oversight Manager updates
First DCOM release provides key step in delivering Blueprint Two vision for Delegated Authority business
We’ve reached an important milestone in realising our vision to deliver the world’s most advanced insurance marketplace with the launch of Delegated Contract and Oversight Manager (DCOM) – our new binder registration platform.
Delegated Contract and Oversight Manager Release One confirmed
We are pleased to confirm the launch and cut-over dates for DCOM. This timeline will enable market firms to complete their onboarding activities and final preparations for go-live.
Update on Delegated Contract and Oversight Manager launch – get ready
On 23 March we announced our plans to roll out the contract management aspect of DCOM to the market at the end of June 2021. Read on to find out Lloyd’s approach for onboarding and training market firms.