Structured Data Capture (SDC)
SDC is an online service that converts the content of Market Reform Contract (MRC) documents into consistent, electronic data during the risk placement process, which can then be consumed by any IT system where the data is usually re-keyed. In this way, paper documents are automatically digitalised so less data entry is needed. Both single and multi-section MRCs may be submitted to the service as well as endorsements.
An MRC can be submitted via various methods including an online portal, through an ACORD gateway, via API, and directly from PPL. A Global Placement Message (GPM) is then returned to be ingested into existing PAS systems.
Up to 350 data items can be extracted from the MRC using a defined set of rules for each data item. The SLA for a turnaround of documents to data is four hours
SDC is also a business condition for Managing Agents using their Lloyd’s Insurance Company (EEA) stamps, where SDC converts documents to data for ingestion into the Lloyd’s Brussels PAS. SDC users can also select to submit binding authority contracts directly in DA SATS.
Release 6.0 of SDC was delivered on 4th June 2020 and contains Market requested enhancements and further data quality improvements. The release also launches SDC API’s to enable a further, more secure and efficient, mechanism for distribution of documents and data.