London Market Process

Course Introduction

This 2-hour webinar follows on from our Introduction to the London market course and is suitable for those who, whilst understanding the make-up of the London Insurance Market, would like to understand how premium, claims/fee data and funds move across the Market. The course will also help to put market transformation and Blueprint 2.0 into perspective.

The course takes a look at the processes, systems, parties involved and also the market’s latest initiative to technologically modernise.

Who should attend?

Those who would like to gain a better understanding of the Lloyd’s and London insurance market and the way in which claims, fees/premium data and funds move electronically across the London Market currently and how they may in the future through technological advancement.

Course Objectives

At the end of the webinar delegates will:

• have an understanding of the parties and systems involved in the movement of funds and data across the London Insurance Market.
• understand the way in which different distribution models influence the method and distribution of data and funds
• understand the placing and claims processes
• understand how data and funds move across the market
• have an understanding of the Fees Direct & Expert Fee Services and when they come in to play
• have learned about Blueprint 2.0 and the anticipated impact this initiative will have on London Market processes, going forward.

Course Content

• Structure of the market – insurers, brokers, MGAs, mutuals, trade bodies, regulators and DXC (including XIS & XCS)
• Different distribution models, open market, binder, lineslip and consortium
  • Light touch on international licences and regulation
• Placing process – leaders and followers
• Movement of risk data and premium funds from brokers to underwriters via DXC
• Claims/fee process – agreement parties
• Fees Direct and Expert Fee Service
• Movement of claims data and funds from underwriters to brokers via DXC
• Market transformation and Blueprint 2.0