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Structured Data Capture Demonstration
|13 June 2019
14.30 - 15.30, LMA Presentation Room, Gallery 4, Lloyd's
Anyone with an interest in SDC. This session is open to LMA & IUA members only.
ABOUT THE EVENT
The Structured Data Capture service (SDC) extracts data from MRC slips into structured ACORD placing message format, which can then be consumed by any IT system where the data is usually re-keyed. Lloyd's Managing Agents have signed up to the service, and just under 100,000 MRCs have gone through data extraction since go live.
As part of Brexit, for carriers writing European business, SDC is used to extract MRC data and automatically interface into the LBS system.
You are invited to register for a demonstration event that will show what can be achieved and outline the SDC benefits to carriers, including:
- reduced data entry time
- consistency of information between stakeholders
- elimination of re-keying errors
•elimination of query/response activities
- time savings.
In the second half of this event, Eurobase will pick up an LBS - ACORD placing message and interface it automatically into the LBS system, demonstrating straight through processing, and/or the ability to quickly and simply deal with data exceptions along the way.
There will be questions and answers throughout to aid understanding.
The SDC service has been developed to automatically extract data items from MRC documents held in formats such as Microsoft Word or PDF and is part of the Target Operation Model (TOM) data integration workstream. All classes of business are catered for, including single and multi sections slips. MRCs can be sent to the service directly by email, Portal or ACORD Gateway and for any risk on the PPL platform, automatically at Firm Order stage (to be enhanced to any point in the placing cycle during 2019). Carriers continue to enhance their workflow systems for SDC submission, and consume the ACORD placing messages into their underwriting systems.