Delegated Data Manager (DDM) to Exit the London Market
At VIPR, we have consistently proven since 2009 to be a frontrunner in delivering cutting-edge bordereaux data management to Lloyd’s Managing Agents. With the recent news to remove DDM (Delegated Data Manager) as a core market service from 13th September 2024, Managing Agents are now faced with the need to reassess their bordereaux data management requirements.
VIPR’s INTRALI platform emerges as the ideal solution for this transition.
As a tried, tested, and trusted platform since 2009, VIPR INTRALI is the industry preferred technology of choice, serving over 45% of Lloyd’s Managing Agents and supporting numerous brokers and insurers, worldwide. Hear it firsthand from our customers.
INTRALI is not just another platform in the market; it’s approach to managing complex data sets from diverse sources, ensuring a unified and trusted data model output for all reporting purposes. The platform excels in data standardisation, transforming large volumes of bordereaux data into a coherent, standardised format. Additionally, with over 150 validation checks, INTRALI assures binder compliance, enhancing data quality and providing actionable insights.
With the removal of the DDM (Delegated Data Manager) system from September ‘24, many Lloyd’s Managing Agents will need to consider their next steps. Here are the Top Five Key Takeaways to consider:
- DDM Service Ending: The contractual end date for DDM will be 13th September 2024.
- Relaxed Mandate: The requirement to submit LIC DA and bulking line slips via DDM will be relaxed, with Lloyd’s Europe adjusting data capture methods.
- Transition Phase: Managing Agents should plan an exit from DDM and can select their own transition timeline as the service will cease from 13th September 2024.
- Alternative Options: Managing Agents can choose any Delegated Authority bordereaux management system that suits their needs.
- Data Management and Compliance: Considerations for GDPR, data deletion, and transition strategies are being discussed.
I AM A MANAGING AGENT – WHAT DO I NEED TO DO NEXT?
Managing Agents need to take action and plan their exit from DDM. They need to start considering all their options and select their own transition timeline as the service will cease from 13th September 2024. This timeline is soon approaching, so a transition period is better considered sooner, rather than later.
With various options available, VIPR has been serving the market since 2009 with VIPR INTRALI standing out for its advanced features, operational efficiency, and proven track record in bordereaux data management. INTRALI’s advanced capabilities to handle agile mapping, custom validations and much more, make it an unparalleled choice.
VIPR is dedicated to assisting Managing Agents through this transition smoothly and efficiently. For those seeking to navigate these changes and looking for a new solution, VIPR INTRALI offers the reliability and innovation required to support your bordereaux management strategy. With frequent upgrades available aligned to the 5.2 blueprint standards and beyond, we embrace the future of bordereaux management with our customer community by our side.
If you would like to know more information or book a demo to explore how VIPR INTRALI can help you transition from DDM to an alternative platform, contact us today. BOOK A DEMO or email: firstname.lastname@example.org