How LM TOM benefits me

Coverholders / TPAs Benefits

Practitioner Benefits Saves me time for generating new business / focusing on more value-add work Supports my face-to-face negotiations and conversations during placement or post bind activities
View Market Benefits
I can use PPL (currently as an MGA with 100% LMA / IUA capacity) for a faster, more efficient and more transparent placement process

  • I can better track my binder placements throughout the placing process
  • A full audit history is available including documents and conversations during the placing process
My binder placement is quicker and more accurate with potentially fewer issues further down the binder life cycle
A faster and more efficient overall placement process means my clients can be serviced more effectively
View Market Benefits
In the future, I may be able to receive schedules converted by SDC in standard ACORD format (eg aggregates) from the London Market to be ingested into my own systems
Consistent, digitised data means my binder data is more likely to be accurate, reducing inconsistencies and ambiguity
View Market Benefits
My premiums will be paid to underwriters more quickly where post-bind submission has been used
The new PbS query process means that issues will be raised with me sooner, leading to faster resolution
Removal of ‘Londonisms’ makes it easier for me to do business with brokers and underwriters in the London Market and reduces barriers to entry
View Market Benefits
Common data definitions mean less time needed to address inconsistencies
Any data disputes are easier for me to resolve against a single source of truth
Consistent market data is available to me from a single source
View Market Benefits
A single set of reporting standards for all carriers makes reporting much simpler
I can submit data into DA SATS in various formats through multiple channels
My data is transformed, mapped, enriched, validated and stored in a single place that anyone on the contract can access
I no longer have to manage multiple data requirements and requests
It’s much easier for me to do business in the London Market
I have fewer audits and compliance checks, so my administrative burden is much less