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Market data collections

A variety of data is collected to enable Lloyd’s to exercise oversight of the market as well as to fulfil our reporting obligations to UK and overseas regulators and other stakeholders. Over time the quantum and nature of the data collected from the market has undergone significant change. The Lloyd’s Market Data Collections (MDC) programme is a strategic initiative closely aligned to TOM, that has been created to improve the ways in which Lloyd’s collects, validates, stores, reports, governs and distributes data. This platform will make it easier for the market to provide information to Lloyd’s.

Background and rationale 

Currently Lloyd’s collects a large variety of data from market participants.  The vast majority of which is financial & insurance risk data (both past and projected) at various levels of granularity; premium, claims, expenses, exposure, capital, reinsurance, etc. 

Data is collected to enable Lloyd’s to satisfy the tax and regulatory obligations for the territories it operates in, such as: 

  • Comply with UK PRA solvency II pillar 3 requirements 
  • Calculate and disclose tax obligations for all territories (UK, US, Canada, Singapore, Hong Kong, etc.) 
  • Regional specific returns such as Conduct Risk, Terrorism, Medical, etc

Data is also collected to enable Lloyd’s to govern and protect the overall market, such as:  

  • Performance management to take a holistic view of the market’s strategic and financial dependencies 
  • Risk modelling submissions, to monitor potential exposure to aggregate catastrophes and other large losses  
  • Syndicate business forecast, to govern the types & volumes of business written at Lloyd's

The information requirements from regulators across the countries and territories Lloyd’s operates within continues to expand in volume and variety, necessitating an efficient and agile data collection and processing pipeline.    

Currently the core set of data is collected from the Lloyd’s market via Core Market Returns (CMR) and additional data is captured via a secure file upload facility ‘SecureStore’ or alternatively direct collection via email.  

This year we have seen a number of returns go live onto the MDC platform, namely QMB, PMDR, Non-XIS and QMA returns. 

Release 3 returns (TPD, SAO and GQD) were scheduled to go live in January 2020 with Market Acceptance Testing sessions planned for GQD and SAO in December 2019.  Unfortunately, due to a delay in build and the number of defects raised during User Acceptance and Lloyd’s Acceptance Testing, the scheduled Market Acceptance Testing period has been deferred.  Market Acceptance Testing for GQD will now take place in May 2020 and SAO will take place in June 2020.  All MAT sessions that have been arranged will be cancelled and new sessions arranged nearer the time. Market Acceptance Testing for TPD will take place later in the year.  Further information will follow.

This also means that Release 3.0 go live dates have been deferred to Q3 2020 for GQD and SAO to allow us to address the matters identified and ensure the planned improvements from MDC will be delivered to the Market.  TPD will continue to go live in November 2020.

To ensure the deferral does not impact the 2020 business planning process we request that all Managing Agents (MAs) submit their Q4 2019 and Q1 2020 GQD return through CMR and SAO via email as previously done.  The deadlines for submission will be the same as indicated in the business calendar on Lloyds.com.

If you require more information regarding this communication or the MDC programme please
contact mdc@lloyds.com or go to www.lloyds.com/mdc

Over the last year the Programme Team have worked with stakeholders across the Market directly and via the LMA Market Return User Group to:

  • Provide sessions on Market Acceptance Testing on the QMB return, QMA return, PMDR and Non-XIS returns
  • Hold post MAT close out sessions to ensure any Market Tester issues have been addressed on the platform
  • Provide training on the QMB return which went live on 1st July and QMA return which went live on 14th October
  • Hold API Workshops to gain feedback from the market on their views


Further engagement is due throughout the year on MAT testing and training for releases due during 2020.

The Vision is that: 

“Lloyd’s Market Participants will leverage highly efficient, effective and agile processes and technology for submitting data to ensure its integrity and maintain regulatory confidence. We will enhance our capability to produce unique insights and improve market collaboration to protect our position.”

The programme will achieve this through the applying the following six business imperatives:

  • Improve Collection Efficiency – optimised consistent processes and technology which eliminate data duplication and manual interventions. 
  • Greater Agility – to effectively respond to change in a cost effective and timely manner. 
  • Regulatory & Supervisory Confidence – embrace solutions that are attractive to our regulators, enhancing their confidence in the Lloyd’s market. 
  • Enhanced Data Quality – ensure data is complete and accurate to enable Lloyd’s to make proper decisions based on meaningful insights. 
  • Common Standards – make it easier to do business in a uniform and repeatable fashion, for processes, data and services. 
  • Better collaboration – ensure clear and consistent ways of working, ensuring clarity of instructions, improved co-ordination for all parties involved. 

0-2 years

  • Easy to use platform and processes for submitting returns to Lloyd’s.
  • Improved validation and warning capability to ensure it’s easier to get information submitted to Lloyd’s which is ‘right first time’ and removing unnecessary manual checks.
  • Reduction of obsolete information from return forms.
  • Imbedded help and guidance for return in platform to make it easier for the market to understand what data Lloyd’s is asking for and why we need it.
  • Improved workflow capabilities which capture all interactions between Lloyd’s and Managing agents for returns in one place.
  • Allow multiple ways to submit information which include existing methods (csv and online) as well as new capability to download returns into excel and allow managing agents to work offline in a format that they are more familiar with.


2+ years

  • One place for submitting and receiving data from the Corporation and standardised processes for submitting them.
  • Rationalisation of the number of returns and leveraging granular data better from operational systems (e.g. Xchanging, DA SATS).
  • Enhancing the collaboration on returns between the Market and Corporation. 
  • Market facing interactive dashboards for analysis and data quality insights.
  • Puts the Corporation in a better position to support strategic initiatives through implementing reusable, scalable and flexible data platform.

System Terms and Conditions (Market User Agreements)

  • Similar to the existing Lloyd's system’s Terms and Conditions, Lloyd’s will require each Managing Agent to sign the Market Data Collections Market User Agreement.
  • These will be aligned to previously signed equivalent agreements signed by the market for CMR, SecureStore and LAF.        


Returns Change – Market considerations

  • The general principle for migration of returns is to minimise impact to the market when initially migrating returns on the new platform (like-for-like basis). The exceptions to this are where we identify obsolete information that is no longer required, or where we have an important business requirement to capture additional information (e.g. Brexit). Once returns are on the new platform we will look at more strategic redesign of returns, consulting with the relevant stakeholders to ensure appropriate scheduling of these changes.
  • The existing csv method will be migrated and supported as part of the migration activities.
  • As we on-board returns to the new platform, any return changes will be communicated in advance so that market participants are fully aware.
  • Once a return is migrated onto the new platform, this will become the sole way for submitting this information to Lloyd’s. The existing method will no longer be available and CMR/SecureStore access for submitting that return will be disabled.
  • Historical return data will be migrated as part of the process.


Returns Administration – Market Consideration

  • The existing Devolved Administrators have been granted access to manage roles and permissions for users within their organisation.
  • Should you require access to the platform, please request this from your organisations Devolved Administrators who can provide you with the relavent access.
  • Lloyd’s will provide training and support for the Devolved Administration community.
  • In conjunction with Devolved Administrations, Lloyd’s will undertake verification of each organisation’s users and security permissions ensuring they are up to date and appropriate for the new platform.


IT Dependencies

  • The MDC platform is accessed via a web portal which has meant that the end users will not be required to make any significant changes within their infrastructure to support the platform.
  • Managing Agents are required however to meet the following standard operating system requirements
    • Dual Core (1.6GHz or above recommended)
    • 4 GB RAM
    • Operating system MS Windows 7 or above
    • Minimum graphics resolution 1366x786
    • Microsoft Office 2010 or above (for downloading/editing offline excel files)
    • PDF Viewer
    • Chrome 53+ or Internet Explorer (IE11)
  • The new platform is hosted within Microsoft Azure and therefore will benefit from Microsoft’s single sign on (SSO) solution.
  • All authorised users will receive an email from Microsoft Azure requesting they register for the service if not already done so. Once registered users will not be required to enter a password to enter the platform.

  • Similar to the existing Core Market Returns system’s Terms and Conditions, Lloyd’s requires each firm to sign the Market Data Collections Master User Agreement.
  • These have been aligned to previously signed equivalent agreements signed by the market for CMR, SecureStore and LAF.
  • These terms and conditions have been communicated to the Market, with all agencies now having these in place.

  • The MDC platform is accessed via a web portal which has meant that the end users will not be required to make any significant changes within their infrastructure to support the platform.
  • Managing Agents are required however to meet the following standard operating system requirements.
    • Dual Core (1.6GHz or above recommended)
    • 4 GB RAM
    • Operating system MS Windows 7 or above (Win 7 require use of Chrome browser)
    • Minimum graphics resolution 1366x786
    • Microsoft Office 2010 or above (for downloading/editing offline excel files)
    • PDF Viewer
    • Chrome 53+ or Internet Explorer (IE11) Please be aware, Internet Explorer settings may need to be changed to enable a copy and paste functionality.
  • The new platform is hosted within Microsoft Azure and therefore will benefit from Microsoft’s single sign on (SSO) solution.
  • All authorised users will receive an email from Microsoft Azure requesting they register for the service if not already done so.


Last updated 19th March 2020.

To minimise the impact to the market, MDC will be rolled out on a phased basis over a 3 year period. The initial platform rollout has been structured into three releases to allow for platform developments required by users. We have then prioritised returns to be migrated in these releases based on a combination of factors that include:

  • Return collection timetable
  • Stakeholder impact assessment – via consultation with market and corporation users


Further information on releases due to go live in 2020 will be announced here shortly.

Various training materials are available to aid in the use of the platform. Please see below for links to this material.


Return User Training

The Return User training is typically in the form of a 1-2 hour briefing and demonstration of the platform, taking Return Users through the workflow and submission process of the relevant returns. These sessions will be supported with an in-depth user guide, quick reference guides and online videos covering the core aspects of submitting a return and managing the validations.

Training for future releases will be made available nearer the time.  If you want to be involved in the briefing / training sessions and have not been contacted then please register your interest at mdc@lloyds.com.

To ensure that MDC is a success and minimise the impact to the market once live, we will need Managing Agents to help us make sure the new system is fit for purpose.

Market Acceptance Testing has already taken place this year on the QMB, PMD, Non-XIS and QMA returns. 


Subsequent Releases 2020

Further details will be made available closer to the time. To register your interest please email mdc@lloyds.com

Further information will be provided throughout the lifecycle of the project on the Lloyd’s website and through regular updates at the LMA CMR meetings for the relevant returns.

All queries should be directed to mdc@lloyds.com.