Contract signed for central service for delegated authority business

Contract signed for central service  for delegated authority business

3rd May, 21018 - Today the London Market Group (LMG) announced that a contract has been signed with Charles Taylor InsureTech Limited to deliver a delegated authority solution that will provide a central service to standardise and centralise the collection, validation, processing and supply of delegated authority data across the market. This will enable a quick and convenient submission of risk, premium and claims data. This is a core part of the Target Operating Model, aimed at making London an easier place to do business.

Ian Fantozzi, COO at Beazley and Market Champion for the Delegated Authority Solution, commented: “Our ambition is to capture the right information at the right time to make underwriting and claims processing as efficient as possible – for coverholders, TPAs, brokers and carriers.

“By uploading data directly into a secure central platform, coverholders will no longer need to email unsecured spreadsheets, all of which will reduce cost, help protect our customers’ data and increase efficiency by eliminating effort and duplication.

“If the market coalesces around this solution it will gain economies of scale and a simplicity of process, benefits that will be lost if individual companies look for their own alternatives. We would encourage the market to engage with us to understand what we are delivering and when.”

The first delivery will be available in the early autumn of this year.

Latest Content

Contract signed for next wave of delegated authority tools

Press Release

PPL completes the class roll out with treaty reinsurance go live

Press Release

Over 50% of the market signs up as new platform goes live, making London easier to access for coverholders

Full Press Release

Target Operating Model launches tools to make access to solutions easier

Press Release - here

LMG publishes 1st Half Year 2018 Report

See report


Full Press Release

Integro become 40th Broker to sign up to PPL


Keep in Touch

Get event updates sent to your inbox