Watch what the team at broker AFL say about electronic placement

Market adoption of DA SATS takes off

Market adoption of DA SATS, which went live in September, is progressing well with latest figures revealing: 51 managing agents and 38 brokers have signed up to use the service.

The DA SATS platform enables the quick and convenient submission of risk, premium and claims data across the London Market. Coverholders no longer need to email unsecured spreadsheets. This reduces costs, helps protect customers’ data and increases efficiency by eliminating effort and duplication. More information on DA SATS can be found here.

Dominique Largeron, Delegated Authorities Underwriting Manager, Chubb Global Markets, sits on the DA SATS working group which has been vital to ensuring the success of the service. Dominique says that joining the DA SATS group enabled Chubb to better understand the challenges and benefits of the project. Dominique adds: “The support of the LM TOM team was invaluable in rolling out DA SATS at Chubb. Unlike most of the other participants on DA SATS, Chubb outsources its bordereaux function to a third party. The LM TOM team supported Chubb by generating solutions for us and we are grateful for their high level of flexibility.”

Who has signed up to DA SATS?

  • 51 Managing Agents have signed the DA SATS MUA and 28 of these are going through Common Services on-boarding;
  • 70 brokers have registered online, 38 of which have signed end-user license agreements (EULAs). 13 brokers have completed the on-boarding process and can now access DA SATS;
  • 65 coverholders/brokers have registered online, 31 of which have signed EULAs. 9 coverholders have completed the on-boarding process and can access DA SATS;
  • 4 TPAs have registered for DA SATS, 2 have returned all documents and 1 TPA has access to DA SATS.

The LM TOM teams are running sessions with brokers to discuss their go-live readiness and are meeting with Managing Agents who have not yet signed up to DA SATS to answer their questions about adoption and provide them with training and assistance.

So far, LM TOM has trained 144 users on how to set up delegated authority contracts in Tide, and 108 users on bordereau processing in Tide. Feedback from the training sessions has been very positive with comments including: “I had no experience before I came to this session, so it has helped me to understand Tide completely” and “Seems like a pretty straight-forward system, the training was useful and thorough.”

The DA SATS team is now working on further enhancements to the service for 2019.

To register for DA SATS click here.