Delegated Data Manager (previously DA SATS) is a central bordereaux processing platform that went live in 2018. It was developed in partnership with the market, to standardise the collection and validation of Delegated Authority data across the market, enabling efficient global business transactions.
Further development of Delegated Data Manager is underway to enable integration with other market bordereaux processing systems. Enhancements currently being worked on include defining a DA data strategy within Lloyd’s to provide clarity on data required for regulatory and tax purposes. Improved guidance for system usage and Coverholder reporting standards is also being developed.
Delegated Contract Manager will manage the registration of all new contracts. The system can perform binder validation checks at an earlier stage, leading to better quality data and less re-work.
Creation of binding authority contracts
The optional Contract Builder tool will enable delegated authority contracts to be produced upfront in an electronic manner with automated data validation checks being conducted as the contract is being produced.
Renewal of existing binding authority contracts
Delegated Contract Manager can copy relevant data from the previous contract to speed up the renewals process.
Collaboration on binding authority contracts
Delegated Contract Manager will allow all parties to collaborate in real time on a contract, showing amendments by the contract creator at the request of the leader.
- 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
- The registration data will feed Delegated Data Manger the contract details
- 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,
- The registration data will feed the contract to Data manager reducing the need for rekeying and reduce errors
- Better quality structured data is available to support analysis and decision making
Delegated Data Manager updates
10 June 2021 – New Cash Call Template
Lloyd’s published the first of its four process improvements that will provide benefits for the market and our customers, giving a more effective, efficient, and transparent end-to-end claims process. The new Cash Call Template provides standard guidance to delegated claim administrators (DCAs) and claims handlers on when a cash call is required, and the information needed. We have shared this directly with the likely affected people, and via the Lloyd’s Market Association (LMA) and London & International Insurance Brokers Association (LIIBA). If you believe you should have received the new template, please email ClaimsLabFutureAtLloyds@lloyds.com.
Lloyd’s outlines its roadmap to achieve full adoption of DDM for all binding authorities and introduce the Conditions of Trade by 1 January 2023. Read on to find out what you can be doing today to prepare for the changes and how Lloyd’s intends to support market adoption.
04 March 2021 Update on the Conditions of Trade
Lloyd’s announces it will no longer be requiring all market firms to submit delegated authority data on Delegated Data Manager from H2 2021. Find out about the phased approach to adoption that we will be implementing and how you can get involved.