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Lloyds International Shared Services (LISS) Premium Service
LlSS offers standardised cash matching and credit control services to the Lloyd's Asia market using Total Objects GXB technology.
We provide
- Data Capture: Uploading of customer premium and policy data into GXB via a daily data feed.
- Cash Allocation - Receipt and allocation of premium paid by brokers which is then paid on to carriers via Lloyd’s central Settlement and Trust Fund Office (STFO).
- Credit control - Chasing of premium closings in addition to owed and overdue premium on behalf of carriers.
- Treasury Services - Onward payment to brokers of return premiums (RPs) and treaty claims and production of daily/weekly/monthly reports.
Post-bind submission (PBS)
The post-bind submission (PBS) interface enables brokers to use ACORD messages to submit carrier-bound Bureau accounting transactions for processing.
The use of these messages removes the need for the broker to submit London-specific information through Accounting and Settlement (A&S) and Electronic Claims Filing 2 (ECF2) channels and to use a global standard method of submission instead.
The Bureau systems and methods used to process PBS submitted items remains the same as with A&S, eAccounts and ECF. The PBS interface enables brokers to use ACORD messages to submit carrier-bound Bureau accounting transactions for processing.
Writeback Service
The Writeback Service allows carriers to operate entirely from within their own systems providing the ability to view data and documents currently available in the Electronic Claims File (ECF) and the Insurers Market Repository (IMR).
The product provides real time, ACORD certified, structured messaging between carriers’ claims management systems and the central bureau service, facilitating 24/7 claims response framework.
Model Wordings Library
Created by the insurance market, the Model Wordings Library (MWL) has over 19,000 approved wordings (in a number of European languages), clauses, policy forms and schedules and associated documents that you can use if you operate in the London Market. It is a dynamic resource and continues to grow with the input of users.
Fully customisable and with restricted access to specified entities or users, the MWL can give your organisation, whether large or small, the tools you need to do business efficiently. By giving selective viewing rights to private wordings and clauses, and the ability to download individual wordings and clauses or combine wordings and clauses into one document, the MWL is an invaluable tool, whether for researching individual wordings or complete policy preparation.