Delegated Oversight Manager (previously Chorus) will provide a new single, end-to-end compliance check for new and existing Coverholders and DCAs, replacing ATLAS.
Delegated Oversight Manager will reduce the time taken to approve new Coverholders and DCAs. It will provide integration with existing Lloyd’s systems and other market-wide solutions, enhancing the quality of data.
Delegated Oversight Manager is currently in the early stages of development and will be delivered in an agile approach with prioritised releases.
A panel made up of market representatives (including Brokers and Managing agents) will be engaged in helping to design, test and feedback on the solution.
Release of the system to the market is currently targeted for Q2-3 2021. The go-live date is dependent on several factors including the results of multiple, comprehensive rounds of market acceptance testing (MAT). The DA Programme team recognises the importance of keeping the market up-to-date on progress and will continue to share updates on delivery timelines.
All Brokers, Managing Agents, Coverholders.
Yes, you can continue to use ATLAS until it is decommissioned. Once Delegated Oversight Manager has been built, Lloyd’s will be implementing a data migration plan and a decommissioning plan. Lloyd’s will ensure all parties are communicated the relevant information and are prepared for decommissioning.
The data migration approach is being updated to reflect the phased go-live for Delegated Oversight Manager. As progress is made, Lloyd’s will look to incorporate feedback from the market on this approach. Lloyd’s will communicate the data migration approach and initial timelines when the final strategy has been reviewed alongside the market. Lloyd’s are looking to ensure that we do this in a timely manner to help the market.
The data migration approach is currently being designed in collaboration with the market. Lloyd’s will communicate this approach when the final strategy has been reviewed alongside the market.
Yes, as Delegated Oversight Manager is replacing an existing mandatory system (ATLAS).
There is no cost to Brokers or Coverholders to use Delegated Oversight Manager.
To ensure the benefits are delivered on, and as part of the Future at Lloyd’s risk exchange integration, it has been mutually agreed with Sequel that an alternate delivery partner should be selected as Lloyd’s move to the next phase of build and delivery. This will build on the positive foundational work Lloyd’s have already undertaken with Sequel, who will remain a strategic partner to Lloyd’s through the delivery of the Lloyd’s Coverholder Workbench platform.
Guidance will be shared at the end of June 2020 on how the market can prepare for adoption of Delegated Oversight Manager.
The onboarding process is currently being developed, in partnership with the market. Lloyd’s will ensure it communicates the approach in a timely manner to ensure the market is ready for go-live.
The training and support approach is currently being developed, in partnership with the market. Lloyd’s will ensure that the market has all the information, materials and support required for the successful adoption of the system.