Your Needs - DDM

Read more on the DDM solution for the market.

This page details how DDM can meet your needs depending on which party you are; a coverholder, broker, managing agent, or a Delegated Claims Administrator (DCA).

If you belong to more than one party, read all of the information that applies to you.

Coverholders or Delegated Claims Administrators

• One single set of reporting standards for all Managing Agents
• I should only need to send data once
• Data is transformed, mapped, cleansed, validated and stored in a single place that anyone on the contract can access
• It’s easier to report your delegated authority business to the London Market
• I have visibility of any data gaps and exceptions
• Decisions are made based on a shared understanding of the data

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 and have assurance that their data is visible to the right parties

Managing Agents

• There is the opportunity for my data quality standards and contractual integrity to be of a higher standard
• I have access to a central source of standardised, cleansed and validated DA data
• My coverholders provide me with consistent data based on agreed standards
• I have improved portfolio analysis capabilities which can support profitable pricing strategies
• I get alerts to potential breaches to the binder agreement
• 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 for your coverholders to report 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 and don’t have to duplicate the bordereaux processing

Contact the DDM team

Visit our Contact DDM page to get help or support on your enquiry.