Flexible workflow management
Easily manage the workload of quotes, policies and endorsements via real time visual controls and reports. Choice of workﬂow approaches to include areas such as KYC checks and managing agent referrals
Full internal rating capability
Working with the managing agent/coverholder, convert existing rating schema into a version that can be uploaded into the workbench, if the rates change, a new version can be simply and quickly uploaded into the system. Full rating history is maintained.
Full risk and claims data capture
Workbench will have all of the data capture in place to satisfy fully Lloyd’s and local reporting requirements, bespoke to the class of business and region. If the requirements change, Workbench will be updated globally with no work required by coverholders. Data capture will include all the bespoke felds required to drive the rating schema
Complete cash management
This includes billing, invoicing, cash allocation, tax management and credit control. Full data transfer of policy capture avoiding rekey and reconciliation issues.
Flexible document production
Bespoke document templates will be provided which are fully editable, while maintaining full audit control
Comprehensive reporting suite
For the managing agent, reports that provide insight in respect of the underwriting activity on the system including quote / bound / declined ratios, pipeline premiums and rate information. For the coverholder, underwriting reports but also other areas such as workﬂow (activity) management, credit control, aged debt and claims monitoring.
Fully compliant bordereau production
Workbench will provide fully compliant (V5.1) risk, premium and claims bordereaux. These can be accepted by the London Market delegated authority bordereaux management service (DA SATS) without any rework or translation, for swift transmission to managing agents. If the standards change, the bordereaux will be amended globally by Lloyd’s without coverholders needing to make any changes.