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Delegated Contract and Oversight Manager

Supporting coverholder onboarding, facility placement and binder registration

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 focused 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 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.

Get in touch

Help and support using DCOM

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

Training enquiries

If you or your team require training support, please contact:

General enquiries

For general enquiries, please contact:



Delegated Contract & Oversight Manager updates

2021

26

July

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.

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11

June

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.

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23

March

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.

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