How much will it cost?
It has been agreed that the charge will be made to the managing agent and the amount will be discussed with them. There will be no charge for coverholders.
Will workbench be available in multiple languages
Initially Workbench will only be available in English, although it will have the capability to capture local language and produce local language documentation.
How long will it take to develop a product?
This will vary based on complexity of the product and availability of stakeholders to design and test, however it could as swift as 1 month, if complexity is low and the coverholder is fully available to agree business requirements and test.
Who can use Workbench?
The system will be available for all existing or new coverholders, including brokers who are acting as coverholders or managing agents service companies that are acting as coverholders. Given the high number of coverholders we will be focusing on UK coverholders in 2019, but will also be looking at new entrants and direct requests from managing agents.