The value of DDM is in the data that it contains, and this value will increase as more data is added through submissions from coverholders.
More data and enhanced data quality will allow for improved decision making by carriers and in the future provide easier regulatory reporting by Lloyd’s.
The Lloyd's Coverholder reporting standards make it easier to work with the Lloyd’s market as there is a consistency in the requests for data from coverholders and Delegated Claims Administrators (DCAs).
The standards state the core set of regulatory, tax, premiums and claims information coverholders and TPAs/DCAs are required to report into Lloyd’s market for all classes of business in all territories.
By using the Lloyd's standards, all coverholders and TPAs/DCAs can be assured that they are meeting all Lloyd's tax and regulatory requirements.
You can easily access the reporting standards for your specific type of binder using the Market Business Glossary. This also includes risk data requirements over and above those needed for regulatory reporting purposes.
Tide has the following reports available within the application:
The Market User Group regularly consider requests for new reports. If you have any ideas you can submit them through the ServiceNow portal.