Open Market Property Schedules Formatting Service

Open Market Property Schedules Formatting Service

What is the Open Market Property Schedules Formatting Service? Or Schedules Formatting, for short.

The service is a new elective market service built on existing DDM application technology but bringing together processing expertise of RMS to format schedules once using a new component of the DDM application. By bringing together the same schedules once and processing them once in a centralised manner to then be utilised by MAs offers material market efficiency.

  • The Service allows Managing Agents to upload excel or CSV format risk Schedules into the DDM Schedules application and commence a workflow with RMS as a service provider, to undertake and manage the schedules formatting process using the DDM Schedules application.
  • The MAs involved in quoting for Open Market risks can join contracts by uploading their versions of the Schedules. The DDM Schedules application can recognise whether it is the same Schedule and ensure that RMS process the Schedule once for all involved MAs.
  • The schedules formatting process is undertaken by RMS as the expert service provider. Processing is performed using a questionnaire and standardised data expectation for fields contained within a risk schedule. The data set and definition used to format the source schedules are defined and maintained in the DDM Schedules application.  The data set will not remain static for any risk class, it will update as the number of schedules grows in the application.
  • The processing by RMS, using the DDM Schedules application produces an exportable file for MAs to download and continue their cleansing and modelling process. The in-built query and workflow in the DDM Schedules application allow all parties involved in the processing to monitor the progress and status of any risk Schedule uploaded into the DDM Schedules application.

For a Summary of benefits download Scheduled Formatting - Summary March 2021

For more detailed information download Open-Market-Schedules-Formatting-Service March 2021

Register your Interest:

If you wish to subscribe to the Schedules Formatting Service, or are after some further information just drop us an email at the below address and one of the team will be in touch to help you out.

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