Delegated Contract and Oversight Manager

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.

Learn more about the Delegated Contract and Oversight Manager

Mandatory requirements

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

Binder registration

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.

Seamless integration

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.

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Help and support using DCOM

If you require support using the system, please raise a ticket with the Lloyd’s Market Support Centre