TOM Delegated Authority

There are a number of developments that affect the DA market:

AiMS Co-ordinated Audit Tool

AiMS is a tool that has been created for Lloyd’s to replace their manual approach to arranging coverholder and TPA audits, and is intended to significantly improve coordination across multiple stakeholders, as it will assist in managing the full audit cycle, from coordination of scheduling the audit, through to follow up on audit actions.

The full functionality of the system is now being used for coordinated coverholder audits. A pilot is being undertaken by Lloyd’s through 2018 on coordinating TPA audits through the platform, with an expectation that a wider exercise will be undertaken through 2019.

Usability enhancements are being made to the platform, including to facilitate additional claims/TPA requirements.

Any enquiries should be directed to Leena Ekman at Lloyd’s.

Data SATS

The Submission, Access & Transformation service will standardise and centralise the collection, validation, processing and supply of DA data across the market in order to maintain consistency and eliminate duplication. Coverholders and TPAs will submit data in to the new service using market level data standards, and the service will store, validate and transform ready for consumption through a standardised reporting tool.

The delivery of the platform will be made on a phased basis. Phase 1 was delivered late September, and is mandatory for submission of any bordereaux data to Lloyd’s Brussels.

Phase 2 will be delivered in Q2 2019, delivering further enhancements and providing greater functionality for straight through processing direct from coverholders and TPAs.

For any enquiries, training or information please contact the LMTOM team.

Data Standards/Market Business Glossary Tool

Class-specific risk data standards have been developed and delivered through 2018. This has resulted in 27 class of business risk standards being delivered. Work will continue through 2018 to refine and draft additional risk standards where required.

The risk standards, together with existing Lloyd’s v5 premium and claims standards, are being delivered through the Market Business Glossary Tool. This provides a single platform for delivery of data standards, and enables users to tailor their data requirements based on the portfolio of business (by country, class etc). For more information and access to the Market Business Glossary click here: https://tomsupports.london/market-business-glossary.

Structured Data Capture (SDC)