Delegated Authority Services

Delegated Authority Services

A suite of platforms and centralised business processes which make doing business with London simpler for the Delegated Authority market.

They include:

DA SATS

DA SATS makes life easier for coverholders by providing a single set of reporting standards to all carriers who will only have to send data once into a central repository for the Lloyd’s market.

What is Delegated Authority (DA) – Data Standards and SATS?

DA SATS is a central bordereaux processing platform for Lloyd’s delegated authority business that went live in 2018. Data is captured in one place through a consistent process for all market participants and enriched, validated and available to all relevant parties on the contract.

Benefits of DA SATS:

  • Establishes consistent processes for market participants
  • Eliminates duplication and reduces work effort
  • Simplifies and standardises data cleansing
  • Facilitates regulatory reporting
  • Provides complete and consistent information for more informed decision making
  • Reduces cost to the market through automation

DA SATS is a business requirement for all Lloyd’s Brussels Subsidiary Business

What DA SATS means for me:

Coverholders;

  • I only have to send data once
  • I have a single set of reporting standards for all my Managing Agents
  • I can submit data into DA SATS in various formats
  • My data is transformed, mapped, cleansed, validated and stored in a single place that anyone on the contract can access
  • It’s much easier for me to do business in the London Market

Brokers;

  • I have access to a central source of standardised, cleansed and validated DA data
  • I get more consistent data with fewer gaps for improved coverholder portfolio management
  • My data quality standards and contractual integrity are higher
  • I can generate reports and extract any of my data from the platform
  • It’s easier to attract coverholders to the London Market
  • I will continue to manage my coverholder relationships

Managing Agents;

  • I have access to a central source of standardised, cleansed and validated DA data
  • All my coverholders provide me with consistent data based on agreed standards
  • I have improved portfolio analysis capabilities which can support profitable pricing strategies
  • I can generate reports and extract any of my data from the platform
  • I am better able to meet DA Business Regulatory requirements
  • It is easier to attract coverholders to the London Market
  • I can conform to the business conditions for the Lloyd’s Brexit solution
  • As a follower, I have better access to data

How do I get started?

Begin your company on-boarding journey at DA SATS Registration

For the DA SATS Roadmap click here

Atlas and BAR replacement

An enhanced automated platform that will streamline the application, approval and compliance of Delegated Authorities and enhance DA contract generation.

The Audit Information Management System (AiMS)

An automated platform which supports the process of auditing coverholders and Third-Party Administrators (TPAs) in a co-ordinated manner.

For the latest information on Delegated Authority Services, please click here.