LLOYD'S MARKET · FOR COVERHOLDERS
Claims Software for Coverholders, with Bordereaux From the Claim
You hold the pen under a binding authority, and often you handle the claims that come out of it too. VCA ClaimsCore runs those claims beside your domestic book, and each binder reports on its own UMR, drawn from the claims your team works.
WHAT EACH BINDER CARRIES
- Policy Detail on the ClaimWith PolicyConnect, coverage from your underwriting system, checked as the claim is handled.
- The Report SetThe Lloyd's Standard Bordereau, MI and Solvency reports, from LloydsConnect.
THE PROBLEM IT SOLVES
A coverholder writes the business and answers for the claims that follow it. When the claims bordereau is rebuilt from spreadsheets each period, the managing agent reads a copy of the work rather than the work itself.
Lloyd's-market reporting is graded, audited, and evidenced with data. A platform that clears it has no trouble with a carrier's audit, an MGA's capacity report, or a TPA client's monthly review.
LLOYD'S AND DOMESTIC, ONE PLATFORM
Two Books, One ClaimsCore
Lloyd's and domestic claims are worked in one VCA ClaimsCore, so your handlers keep one way of working whichever paper a claim sits on. A claim flagged as Lloyd's business carries its binder's detail from intake, and each binder reports on its own UMR.
- Each Binder on Its Own UMRSet up once with its risk codes and participant details, for individual-risk and subscription market business, and never set up again for that contract.
- The Coverholder on Every ClaimYou are recorded on each Lloyd's claim as a participant, beside the retail agent, the Lloyd's broker and the managing agent, and claims can be searched by coverholder and UMR.
- Your Words, London's ReportYour in-house terms are mapped to Lloyd's once at setup, and the bordereau calculations, coinsurer and certificate allocations included, run automatically.
THE REPORT SET
What Goes to London, Drawn From the Claims
From the claims your team works in ClaimsCore, LloydsConnect produces the four reports of the Lloyd's report set.
Together, the four are the claims side of what you owe. Premium and risk bordereaux report what was written and the money due on it, and come from the system that writes the business.
ONE CLAIM · VCA CLAIMSCORE
ONE CLAIMS BORDEREAU LINE
- Contract SetupThe UMR, entered onceFrom contract setupCONTRACTUMR, class, risk codesFrom contract setup
- IntakeTaken at first noticeFrom intakeCLAIMReference, insured, date of lossFrom intake
- HandlingIn your own termsMapped from your own termsCAUSE AND STATUSIn the market's codesMapped from your own terms
- PaymentsEach against its reserveFrom the paymentsPAIDIndemnity and expenseFrom the payments
- Reserve HistoryEvery movement, datedFrom the reserve historyOUTSTANDINGReserve, and the movementFrom the reserve history
- Recovery RecordPosted against the reserveFrom the recovery recordRECOVERIESSalvage and subrogationFrom the recovery record
- Shares on the UMRRecorded at setupFrom the shares on the UMRSHAREEach participant's portionFrom the shares on the UMR
What a Bordereau Line Has to Answer →
Policy Detail From Your System
PolicyConnect brings coverage, limits and deductibles from your underwriting system onto the claim, with sync and validation set per program and line.
Payments Issued From the Claim
ClaimsPay, an add-on, issues a payment approved on the claim through VCA's partnership with Vitesse, with no payment details re-keyed.
Every Binder, Side by Side
VCA Insights compares programs, carriers and offices, and drills from the portfolio to a single claim in one click.
PRINCIPLE 4, FROM THE DELEGATED SIDE
The Managing Agent's Question, Answered From the Claim
As of January 1, 2026, Lloyd's made claims management a hurdle Principle, Principle 4. The Principles bind managing agents, and a coverholder handling claims under a binder carries Principle 4 through the managing agent's oversight, audit and reporting requirements.
On VCA the record is written as the claim is worked: each reserve movement, who made it and which fund account it came from.
HOW IT REACHES YOU
It arrives as a question from the managing agent, and the answer is expected to be evidenced rather than asserted.
VCA's three-part white-paper series, Proof, Not Attestation, written by Chief Product Officer Ilda Cairns, covers what Principle 4 requires and how to evidence compliance.
A TYPICAL COVERHOLDER PACKAGE
ClaimsCore, and What a Coverholder Adds to It
Both books run on ClaimsCore. A typical coverholder package adds LloydsConnect for London's reporting, PolicyConnect for policy detail from the system that writes the business, ClaimsPay for payments, and VCA Insights for reporting across binders and programs.
Typical for CoverholdersNot Typical for This Seat
- VCA ClaimsCoreWhere every claim is worked. Add ClaimsAI™ and it works inside the claim.
- PolicyConnectPolicy detail on the claim
- ClaimsPayIssues payments from the claim
- VCA InsightsAnalytics across the book
- LloydsConnectBordereaux from the claim
- InsuredConnectNot typical for this seat
- DataBridgeNot typical for this seat
- ClientPortalNot typical for this seat
ClaimsCore is complete on its own. Each add-on joins it when the work needs it. ClaimsAI arrives by the end of 2026.
Not Typical for This Seat
How Implementation Works →How Pricing Works →Security and SOC Reports →
WHY VCA
Why Coverholders Choose VCA
VCA knows a coverholder's period end from the claim side. The case comes down to the claim, the time it takes to go live, and what else has to change.
- Depth of Claims ExpertiseBuilt from the claim up, by an adjuster, so the bordereau is read from the work your handlers already do. VCA has been building claims software for more than 20 years.Why VCA →
- Speed of ImplementationDiscovery first, including the reporting each binder carries, then live in weeks.
- Capital EfficiencyYour Lloyd's business and the rest of your book on one claims platform, beside the policy system and ledger you already run, at a fraction of the cost of a core replacement.
Questions Coverholders Ask
What does a coverholder run on VCA?
A Lloyd's coverholder that handles the claims arising from its binders works them in VCA ClaimsCore, beside its domestic book: every property and casualty line, not workers' compensation or health benefits claims. Each binder is set up once on its Unique Market Reference (UMR), bordereaux populate per claim, and LloydsConnect, an add-on, produces the Lloyd's report set from those claims.
Does VCA produce our premium bordereaux?
No. VCA produces the claims bordereau. A premium or risk bordereau reports what was written and the money due on it, and comes from the system that writes the business.
We write under more than one binder. Does each report on its own UMR?
Yes. Each binding authority is set up once on its own Unique Market Reference, with its risk codes and participant details, and every claim identified against it reports against that contract. Bordereaux populate per claim, for individual-risk and subscription market business.
Can policy detail from our underwriting system reach the claim?
Yes, with PolicyConnect, an add-on to VCA ClaimsCore. It brings policy and coverage detail from your policy administration or underwriting system onto the claim, at first notice and as the claim is handled, and checks terms, deductibles and effective dates. Which fields sync, how often and the validation rules are set per program and line of business.
Does Lloyd's Principle 4 apply to a coverholder?
Lloyd's made claims management a hurdle Principle, Principle 4, as of January 1, 2026. The Principles bind managing agents. A coverholder handling claims under a binder is not held to Principle 4 directly; it carries it in practice, through the managing agent's oversight, audit and reporting requirements.
How long before our first bordereau comes out of VCA?
Every implementation starts with discovery: VCA maps how your claims move, including the reporting each binding authority carries, before anything is configured. A Standard License deployment configured to your workflows is live in 3 to 4 weeks; an Enterprise License deployment, with integrations or migrated claim history, takes 8 to 16 weeks. Your band is scoped at quote.
Bring us a claim where the promise was hard to keep
Tell us which binders you write under and who you report to, and we'll show you one of your claims flagged at intake, worked in ClaimsCore, and on its line of the bordereau.
Request a Demo