Following engagement and direction from the market the decision has been made for LIMOSS to remove DDM (Delegated Data Manager) as a core Market Service. The contractual end date for the existing DDM Service is 14th September 2024.
A new DDM Elective service will be made available to Managing Agents who still wish to use DDM. For further details on the new Service, you can reach out to [email protected].
DDM 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.
DDM can help all parties report their Delegated Authority business effectively. With DDM 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.
Find out how DDM can meet your needs.
DDM went live for Lloyd’s Delegated Authority business in 2018 and was mandated for use for Lloyd’s Europe business incepting from the 2019 year of account. This was further expanded to include Lloyd’s Europe Bulking Line-slip business placed in the Lloyd’s market from the 2021 year of account. DDM was available to Lloyd’s insurers with company market business from May 2020.
DDM is powered by Tide, an application developed by Charles Taylor InsureTech. It will transform the various bordereaux formats received to the agreed Coverholder Reporting Standards. You can find more information on the required standards and check you have access on the Market Business Glossary (MBG).
In early 2023 an LMA survey for next steps on DDM was run across the market and it was determined that DDM should move to an elective service as opposed to a central market service. Commercials for a viable elective service option were discussed and it was agreed by market governance that an elective service offering should be put in place. The existing core service contract ends on 14th September 2024 and the new DDM Elective service will commence from 15th September 2024. Managing Agents who wish to sign up for the DDM Elective Service can contact [email protected] for further details.
