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. Subsequent releases continued to deliver wider benefits and ‘right-first-time data and contracts’ – unlocking opportunities to improve reporting, reduce rekeying of data, support the option for continuous contracts and enable Faster Claims Payment for delegated authority business.
With the integration of DCOM and DDM live as of October 2022, data can automatically flow from DCOM into DDM upon registration of a binder. This reduces the need for rekeying of data in DDM and will support the capture of accurate binding authority data for new contracts and renewals.
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.