The system allows retail brokers and agents cooperating with Leadenhall’s clients to prepare premium indications and bind insurance contracts on any mobile device 24 hours a day, 7 days a week.
All parties to a transaction work within the same online system. Thanks to this, all underwriting decisions are recorded within the system.
Binding quotes may be converted into policies by a broker logged into the system. In cases where the policy binding process does not require a signed proposal form from the Insured the policy is available immediately. In situations where a signature on a proposal form is required, either a system can be activated for electronic signatures, or the policy will be made available immediately after the uploading of a scanned copy of the completed proposal form onto the Leadenhall online system and it has been verified by the underwriting team.
Cancellations, mid-term policy adjustments and renewals are all handled within the system.
ACORD standard data is inputted into the system by those closest to the facts. This data is automatically transmitted from retailer to wholesaler, Lloyd’s Broker and Insurers without the need for costly rekeying. The flow of data is controlled by the system based upon your requirements. Referrals can be automatically forwarded to Underwriters or sent to the in-boxes of broking teams for face-to-face negotiations. The choice is yours and the system can be adapted quickly and easily as your requirements change.
Where required, we work with our clients to integrate the online platform into their existing accounting and credit control platforms. The system can also obtain and remit automatic feeds of information from third party online platforms such as postcode look-ups, sanction monitoring, Lloyd’s online reporting and settlement platforms, claims handling companies and other TPAs.
The system is primarily provided as a white label platform delivered to Lloyd’s and non-Lloyd’s Brokers and their producing intermediaries. In addition to B2B, the system supports B2C distribution by our clients to their final customers.
Everything is recorded within the system, including all user activity. Full versioning history of changes are permanently stored in the system. These can be easily audited by internal and third party auditors.
The system is multi-lingual, multi-time zone and multi-currency.
Utilising the system and processes we help develop for you significantly reduces the minimum premiums required to make business cost effective to handle.