What is it?
The Delegated Authority Programme aims to modernise the London Market, delivering technology and process improvements that enhances the way Delegated Authorities are managed.
Our progress to date
Learn about the progress we have made since we published Blueprint One on 30 September 2019.
Our focus for 2020
How the delegated authority progamme will create value for stakeholders
- Improved quality of service
- Better value for money
- Faster claims payments enabled by more efficient processes
- Reduced approval time for new Coverholder permissions
- Operational savings from reduction in manual handling of bordereaux
- Reduced cost of Third Party Compliance due to reduced duplication, errors and process time
- Less time spent coordinating annual compliance requests
- Increased profits through higher volumes and lower administration costs
- Fewer and more risk-based audits
- Savings through right first time submissions to Xchanging
- Enhanced data quality and reduction in re-keying, with direct data feeds between systems
- Transparent and consistent due-diligence processes and ongoing oversight
- Richer commercial insights risk portfolios
A short video that showcases three of the technology solutions being created as part of the Delegated Authority programme at Lloyd’s, Delegated Contract Manager, Lloyd’s Coverholder Workbench and Delegated Data Manager.