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Functionality and benefits

How Delegated Data Manager makes managing delegated authority business more efficient.

Key functionality

Current functionality includes:

The processing of bordereaux data

Delegated Data Manager standardises bordereaux data, translating the bordereau format to standard data fields using a simple, once-only questionnaire.

The ability to generate reports

This includes monitoring Gross Income utilisation, contract status, bordereaux submission, volume status and data validations.

Future functionality will include:

Automated contractual validation

Delegated Data Manager will validate contract data to Coverholder 5.2 standards, resolving data quality issues for standardising, cleansing and enriching bordereau data.

Support Lloyd’s reporting systems

Delegated Data Manager will provide a central source of DA data to support centralised Regulatory, Tax and Compliance reporting on behalf of the market.

Integration with other market-wide systems

Delegated Data Manager will enable electronic submission and distribution of Delegated Authority Data to and from market systems. This will also include potential integration with Lloyd’s Coverholder Workbench and Future at Lloyd’s Risk Exchange.

Integration with Lloyd’s Delegated Contract Manager

Electronic integration will enable the flow of contracts and market participant data between Delegated Contract Manager (previously Chorus) and Delegated Data Manager.

What are the benefits?

  1. Brokers
  2. - Access to a central source of standardised, cleansed and validated DA data
    - Consistent data, enabling improved Coverholder portfolio management
    - Higher data quality standards and contractual integrity
    - Ability to generate reports and extract data from the platform
    - Easier to attract new Coverholders and DCAs to the London Market
    - Facilitates better Coverholder relationship management

  3. Managing Agents
  4. - Access to a central source of standardised, cleansed, and validated DA data
    - Provision of consistent data based on agreed standards by all Coverholders
    - Easier to conform to the business conditions for the Lloyd’s Brexit solution
    - Improved portfolio analysis capabilities (which can support profitable pricing strategies)
    - Option to generate reports and extract data from the platform
    - Increased confidence in meeting DA Business Regulatory requirements
    - Easier to attract new Coverholders and DCAs to the London Market
    - Better visibility and access to data

  5. Coverholders

- Reduction in re-keying of data
- Single set of reporting standards for all carriers
- Ability to submit data into Delegated Data Manager in various formats
- Data is transformed, mapped, cleansed, validated and stored in a single place available for all relevant parties on the contract
- Easier to report delegated authority business in the London Market