Core Data Record (CDR)

A set of standardised, quality transactional data, that empowers downstream processing

Implement – In progress

What is the CDR?

The CDR holds the critical transactional data required to be captured at written line across four downstream processes: premium validation and settlement, claims matching at first notification of loss, tax validation and reporting, and regulatory validation and core reporting. 
Data is either captured in the MRC v3 during risk placement and easily extracted to complete the CDR, or - for those using a data-first approach - the CDR can be used to help create the MRC v3. 

The CDR aligns with ACORD technical standards, which are the agreed method for submitting and exchanging data within the London market, and will be used to drive digital processing, consistent with the MRC v3.

A database


An agreed market standard

Improves data quality and integrity through a global market-wide standard.

Transparent and clear

Provides visibility of the data required, and how it is used in the end-to-end process.

Minimise re-keying

Deriving information and sharing it back with the owners, significantly reducing manual effort and improving consistency and accuracy.

Speed up and simplify

Supports the market in speeding up and simplifying the end-to-end process from placement to claims settlement.

User journey

The CDR is used in both the open market placement and open market claims journey. 

Open market placement

Risk placement

Submission and quote

  • Two women working together at a desk
    Broker builds out the risk contract details with the client

    There is one unified data standard for the whole London market, reducing complexity for brokers

  • Two people in the Lloyd's underwriting office with the bell
    Broker presents the risk to the underwriters in the market

    Using the risk data in the Core Data Record, a 'soft call' can be made to validate the data, which saves time and effort by identifying errors early

  • Two people sat at a desk talking about quotes
    Underwriter reviews the contract, negotiates the risk with the broker, and provides a quote

    Contract data is kept in alignment with the Core Data Record standards, powering downstream premium processing and payment

Risk placement

Firm order and bind (written lines)

  • A man sat at a desk on a computer with a checklist
    Underwriter conducts relevant compliance reviews of the contract pre-bind

    Key data and information can be checked in the Core Data Record before a compliance review is performed, ahead of binding the risk

  • Two people shaking hands
    Broker confirms the quote is accepted by the client, and the underwriter confirms the offer and binds the risk 

    Data is checked and enriched in the Digital Gateway, increasing the quality of data, and supporting the completion of the Core Data Record

Risk placement 

Signing down and contract complete

  • Group of men and women discussing risk
    Broker signs down the placement for risks that are oversubscribed, to ensure it adds up to 100%

    Structured data in the contract helps to provide a single source of truth and unified view of who is on risk

  • Tax and accounting data
    If required, broker and underwriter provide tax and accounting data to complete the Core Data Record (CDR)

    The Core Data Record (CDR) provides a central record by collating all tax and accounting data needed for downstream processing

Premium processing and payment 

Accounting and settlement

  • A woman at a desk on a computer with finance icons above her
    Broker creates the accounting instructions

    The technical and financial accounts are created by the broker and automatically validated against the Core Data Record

  • A woman holding a loading sign with a cloud above it
    Broker provides relevant information for processing

    The Core Data Record is the source of data for downstream validation and subsequent processing

  • A woman sat at a desk with a question mark above the computer
    Broker may receive queries for more information

    Data requirements and requests have been simplified and streamlined, reducing the need for additional customer data post bind

  • A woman on a laptop sending money
    Once the premium is paid by the client, the broker triggers payment of the premium to underwriters

    The financial account is matched against the technical account

  • A man receiving a notification on an iPad
    Underwriter receives a notification when the funds have been settled
    CDR not applicable to this step
  • The industrial Lloyd's building
    The Corporation receives the relevant tax and regulatory data

    Standardised master data improves the accuracy of tax and regulatory reporting

Open market claims

Notification of loss, policy matching and verification

  • Customer making a claim on a laptop
    Customer makes a claim
    CDR not applicable to this step
  • A man holding a document while sat a desk with a computer
    Broker submits the claim with supporting document
    CDR not applicable to this step
  • A man on a computer with a claim and policy document above
    Claim is matched against the relevant policy

    Data requirements and requests have been simplified and streamlined, reducing the need for additional customer data post bind

  • A woman checking things on a computer
    Policy and premium verification checks are performed

    Providing key policy information that can be used to check basic information, such as dates and limits, etc.

Triaging, routing and assignment 

  • A man receiving a notification on an iPad
    Lead underwriter and claim agreement party(ies) are notified of the claim (if required)
    CDR not applicable to this step
  • Two people on computers with a checklist above them
    Lead underwriter and claim agreement party(ies) are assigned claims tasks
    CDR not applicable to this step


  • A man on the phone at a desk
    Query management and requests for additional information is undertaken (if required)
    CDR not applicable to this step
  • Two people shaking hands at a desk
    Lead underwriter and broker negotiate, and agree or deny the claim
    CDR not applicable to this step

Digital processing 

Settlement and claims payment

  • A woman doing technical checks on three computers
    Settlement and claims payment
    CDR not applicable to this step
  • Funds being sent from one person to a computer to another person
    Funds or fees are moved
    CDR not applicable to this step

Progress update

What's been delivered

Further information

Discover more information on the CDR, how it will be used, and what firms need to do. 

Find out more

An interactive version of the CDR v3.2 is now available on the LIMOSS MBG. To access the CDR, you will be asked to first register on the MBG. 

Access the CDR