DA SATS the Submission, Access and Transformation Solution is a central bordereaux management solution for the London Market reshaping the way data is handled.
The purpose of the service is to make business simpler by providing a single set of market approved delegated data and reducing the need to duplicate data entry.
DA SATS can help all parties report their Delegated Authority business effectively. With DA SATS it can provide the market with standardised risk, premium and claims data for Delegated Authority arrangements.
This is consistent, validated and available to all relevant parties on the contract for oversight, analysis and reporting.
DA SATS went live for Lloyd’s Delegated Authority business in 2018 and was mandated for use for Lloyd’s Brussels business incepting from the 2019 year of account. This will be further expanded to include Lloyd’s Brussels Bulking Lineslip business placed in the Lloyd’s market from the 2021 year of account. DA SATS is available to Lloyd’s insurers with company market business from May 2020.
Read more on the Lloyd’s DA SATS intent to mandate bulletin.
DA SATS is powered by Tide, an application developed by Charles Taylor InsureTech.
DA SATS will transform the various bordereaux formats received to the agreed Coverholder Reporting Standards.
You can find more information on the required standards on the Market Business Glossary (MBG).
New users to the MBG will need to register first.