Live Webinar - London Market Process

What you will learn

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 market modernisation activities and their anticipated impact on London Market processes, going forward.

Course Content

• • Structure of the market – insurers, brokers, MGAs, mutuals, trade bodies, regulators and Velonetic/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 Velonetic/DXC
• Claims/fee process - agreement parties
• Fees Direct and Expert Fee Service
• Movement of claims data and funds from underwriters to brokers via Velonetic/DXC
• Market transformation and modernisation activities