Delegated Contract and Oversight Manager (DCOM) is our new platform allowing market participants to create and register binding authority contracts. It is being rolled out in stages, and once fully delivered, will also provide an end-to-end compliance check for new and existing Coverholders and DCAs. It is being developed in partnership with the market to make it easier, faster, and more cost-effective to do Delegated Authority business.
In Blueprint Two, we set out our vision for creating the world’s most advanced insurance marketplace. Launching Delegated Contract and Oversight Manager (DCOM) is a key milestone in this journey. Delegated Authorities business represents nearly 40% of the premium written at Lloyd’s, and therefore this solution is a key part of our plans for the digitalisation of the market.
This first release delivers 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.
The platform is being delivered in an agile approach with prioritised releases. We are working in close consultation with market associations and market firm representatives to shape the roll-out.
DCOM has been developed in close consultation with market associations and market firm representatives. Following the first release, we are also establishing a DCOM market user group to provide feedback on the system and help shape future enhancements. This group is open to all users who would like to contribute.
If you would like to be involved, please register and you will be contacted with further information.
The binder registration feature is mandatory as Delegated Contract and Oversight Manager (DCOM) has replaced the previous mandatory system (BAR). When introduced, the coverholder onboarding feature will also be mandatory as it will replace the current system (ATLAS).
DCOM’s contract builder tool is an optional feature and will continue to be enhanced with future releases.
- Contact your Devolved Administrator first to check all user access set up activities have been completed (including Identity at Lloyd’s single sign-on access)
- Attend an available training session
- Access training and support materials via the Lloyd's Market Support Centre
- Raise a ticket with the Lloyd’s Market Support Centre if you require additional support after accessing available resources.
- Attend upcoming drop-in sessions to speak to the team directly about business process or technical queries
Note: To access support materials, users will need to use their Identity at Lloyd’s log-in. Access to the Market Support Centre will depend on a few factors, such as their organisation and whether they have already created an account. Please review this user guide for further detail on accessing the Market Support Centre portal
We are also establishing a DCOM market user group to provide feedback on the system and help shape future enhancements. If you would like to be involved, please register and you will be contacted with further information.
All BAR records (regardless of status, from 1999 to 5:59pm Thursday 15 July 2021) have been migrated to Delegated Contract and Oversight Manager (DCOM).
- Any BAR records with the status of ‘Draft’ that were incepted prior to 31 December 2019 have been migrated to DCOM with a status of ‘Not Taken Up’
- Any BAR records with a status of ‘Draft’ that were incepted on or after 31 December 2019 have been migrated to DCOM with a status of ‘Draft’.
If you are yet to complete virtual instructor-led training you can continue to sign-up for upcoming sessions. Training sessions include system demos and Q&A.
Please sign-up to book yourself onto a DCOM training session.