What is it?

  • Data is at a transactional level as opposed to reporting information being derived from the bureau accounting process and aggregated
  • Breaks the link between accounting and reporting  

Background

Having proved the direct reporting concept through a pilot covering only the following territories: Australia, Canada, EEA and US which concluded in March 2011, Lloyd’s has now developed a technically up-to-date, future-proofed solution, allowing the scope of direct reporting to be increased to all territories and all managing agents with service companies.

A pre-requisite for any managing agent wishing to report directly to Lloyd’s is to have achieved Board sign-off against the Control Framework for Regulatory and Tax reporting.

In scope

  • 100% business – where an insurer underwrites the whole risk.
  • ‘Separate’ subscription business - where an insurer underwrites part of a risk using a separate insurance document to other insurers which underwrite that risk.

Out of scope

  • ‘Conventional’ subscription business - where all underwriters underwriting part of a risk use the same market reform contract for subscription.

Current Status of project

Lloyd's Direct Reporting went live in September 2013.  Implementation planning is now in progress with several managing agents.  If you are interested in finding out more, please contact the team using the details on this page.

What benefits could it provide to managing agents?

  • Meets the market desire for more choices in operating model 
  • Releases time and resource currently producing LPANs 
  • Reduces direct costs of transactional processing through a service provider

Key elements of the project

  • Non-cash service company business to Lloyd’s 
  • For all geographical territories 
  • ACORD standard XML 
  • Flexible submission time frames

Lloyd's Direct Reporting

Lloyd's Direct Reporting

Click the icon to access Lloyd's Direct Reporting

User videos

We have created some short user videos to help guide you through using Lloyd's Direct Reporting (LDR).

View the LDR user videos here

Contacts

General Mailbox: direct.reporting@lloyds.com 
General Tel: +44 (0)20 7327 6696

Kevin Blake 
Data & Reporting Manager
Tel: +44 (0)20 7327 5887
kevin.blake@lloyds.com

Farirai Gora (Emma Mullin maternity cover)
Operations Business Consultant
Tel: +44 (0)20 7327 5591
farirai.gora@lloyds.com