LLOYDSCONNECT · ADDED TO VCA CLAIMSCORE
Lloyd's Claims Software, Built for the Delegated Market
LloydsConnect is the Lloyd's add-on to VCA ClaimsCore, for the coverholders and DCAs working delegated claims. The managing agent (MA) expects a claim it can inspect and a bordereau it can rely on, and both come from the same record.
TYPICAL FOR
Lloyd's MarketCoverholdersDelegated Claims Administrators (DCAs)
Domestic MarketMGAs and Programs
THE CONTRACT, SET UP ONCE
- Unique Market Reference
- Agreement Number and Class of Business
- Risk Codes
Individual-risk or subscription business
VCA CLAIMSCORE WITH LLOYDSCONNECT
One Lloyd's Claim, Attached to Its Contract's UMR
- Contract Detail From Its UMR
- Reserves, Payments and Notes
- Litigation and Recovery
- Cat Code and Treaty Year
ON THE CLAIM
- Retail Agent
- Coverholder
- Lloyd's Broker
- Managing Agent
WHAT LONDON READS
- The Claims Bordereau for Each UMR
- Each Participant's Share
- The MI and Solvency Reports
Produced by LloydsConnect from the claims
THE PROBLEM IT SOLVES
When the bordereau is compiled by hand in a spreadsheet each month, one person keys the figures, another checks them, and each participant's share is calculated by hand. The report London reads can drift from the claim it describes, and a review is where anyone finds out.
THE REPORT SET
What does LloydsConnect produce?
Delegated Lloyd's business is often worked a long way from Lime Street. LloydsConnect produces what London reads from the claims your team works in ClaimsCore.
- What Every Report Is Built FromThe contract is set up once on its Unique Market Reference, with its agreement number, class of business, risk code and limit of authority. Every claim attached to that UMR carries the contract's detail, so nobody keys it claim by claim.
- Each Participant's ShareOn subscription business, several participants each take a share of the same risk. You add each one to the claim with its UMR and percentage, and VCA splits reserves, payments and invoices on those percentages. The bordereau can be run on those allocations or with the full figures for the managing agent.
- The Lloyd's Report SetThe Lloyd's Standard Bordereau, the Standard Bordereau with Certificate Allocation, the Lloyd's MI report and the Lloyd's Solvency report.How a Bordereau Line Is Built →
Also Added to ClaimsCore: ClaimsPay, which issues a payment approved on the claim through VCA's partnership with Vitesse, with no payment details re-keyed.
WHO THIS IS FOR
Every Seat in the Chain, and Its Own Page
VCA sits with the operations that hold the authority and owe the reporting: the firm that handles the claims, the firm that writes the business they come out of, or one firm doing both. Its main user is the DCA, working the claims on behalf of the syndicates, coverholders and managing agents. Each seat has its own page, with the add-ons that fit its work.
For you, the record on each claim answers a review. Between bordereaux, ClientPortal, an add-on to ClaimsCore, opens those claims to the parties you report to, your managing agents among them.
BUILT FOR YOU IF
- You handle delegated claims for someone else and owe them the bordereaux.
- You hold a binding authority and your team handles the claims that come out of it.
- You run an adjuster workflow behind the reporting, in the field or at the desk.
- You report to more than one contract, more than one participant, or both.
- Your Lloyd's business sits beside a domestic book you would rather not run twice.
NOT BUILT FOR YOU IF
- You need a policy administration system to write the business.
- Workers' compensation or health benefits is the book you need covered.
THE VOCABULARY
What the Lloyd's Terms Mean, in Plain Words
Each term carries a precise meaning. A firm can be a coverholder without handling claims, or handle claims without being a coverholder, and the two arrangements owe different things.
Binding Authority (a Binder)
The agreement under which a Lloyd's managing agent lets another company enter into contracts of insurance on behalf of the syndicate or syndicates it manages. The binder sets what may be written, on what terms, and for how long. Authority to handle the claims arising from that business may sit inside the same agreement or in a separate one.
Coverholder
A company approved by Lloyd's and authorized under a binding authority to write business on behalf of a Lloyd's syndicate. The coverholder holds the pen locally, close to the market it serves, and reports what it writes and what it pays back to London. Many coverholders handle the claims as well, which is where the claims bordereau obligation starts.
Delegated Authority
Acting on behalf of the party that carries the risk rather than alongside it. It covers underwriting authority, claims authority, or both, and a firm can hold one without the other. Delegation is what creates the reporting obligation in the first place: London is accountable for business it never touched, so it asks to be shown.
Delegated Claims Administration
Handling claims on behalf of the parties that carry the risk. At Lloyd's, a firm doing this work is a delegated claims administrator (DCA); outside the Lloyd's market the same role is usually called a TPA. The authority comes with limits written into the agreement, and claims outside those limits are referred to the party that granted them.
Managing Agent and Syndicate
A syndicate is the vehicle through which capital is committed to risk at Lloyd's. The managing agent (MA) is the company that runs it and underwrites on its behalf.
Bordereau, and Bordereaux
The periodic report that carries this business back up the chain. A claims bordereau lists every claim in the period with its paid amounts, outstanding reserves, and status. The plural is bordereaux. The anatomy of a line, the report set, and how the figures tie to your ledger are on the bordereau reporting page.
WHAT CHANGED AT LLOYD'S IN JANUARY 2026
Proof, Not Attestation
As of January 1, 2026, Lloyd's made claims management a hurdle Principle, Principle 4. The Principles bind managing agents (MAs); delegated claims administrators (DCAs) and coverholders carry it through the managing agent's oversight, audit, and reporting requirements.
VCA records the evidence as the claim is worked, each reserve movement and who made it, so the report to the managing agent is drawn from claims your team has already kept current.
HOW IT REACHES YOU
It arrives as a question from the party you report to, and the answer is expected to be evidenced rather than asserted. Managing agents now have to show their working. So do the firms they delegate to.
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.
THE OVERSIGHT EXHIBIT
What an Oversight Review Asks to See, and Where It Already Lives
The binder and the claims agreement set the terms, and the terms vary. The questions below come up in most reviews, and each answer is read from the claim itself.
| What the Reviewer Asks For | Where It Already Lives on the Claim |
|---|---|
| The Authority | |
| Which Contract This Claim Sits Under | On the claim itself. The claim is classified as Lloyd's business, at entry or later, and attached to its UMR, and the contract's details, such as the risk code, come with it. Coinsurers are added on the claim with their UMR and percentage. |
| Authority Limits, and What Went Above Them | Authority limits are set for each user. A reserve above a handler's limit is submitted for approval to an approver chosen from a list, shows under Pending Approvals, and writes a note to the claim. |
| The Handling | |
| When Each Claim Was Acknowledged, Moved and Settled | In the claim's history. Every action is recorded with who took it and when, each claim sits in a stage your team defines, and a live status monitor shows where each one stands. |
| Which Claims Are in Litigation, and Who Is Defending Them | Litigation and Defence flags mark the claim, and defence counsel is attached to it as a contact. |
| The Record | |
| Claim-Level Activity and Reserve Movement History | Written as the handlers work: each reserve movement, who made it, when and why. On Lloyd's claims paid through ClaimsPay, each program is linked to its fund account through the UMR, so payments are issued from that account. A claim review opens on the record itself. |
| Subrogation and Salvage Recovered on the Claim | On the claim's recovery tab: the type, who it came from, the amount and date received and, if you choose, the reserve it applies to. |
| Which Catastrophe the Claim Belongs To | In the claim's loss details, which carry a Cat Code and Treaty Year. |
| The Reporting | |
| The Reserves and Payments Behind Each Bordereau Figure | On the claim's reserves and payments, the figures the bordereau is built from. |
| Who the Retail Agent, Coverholder, Lloyd's Broker and Managing Agent Are | On the claim, where you record them: the retail agent, the coverholder, the Lloyd's broker and the managing agent. Claims can be searched by coverholder, retail agent, Lloyd's broker and UMR. |
Claims carry personal and sensitive information, and the agreement will say how it is held and who may see it. VCA's posture is on the security page.
FOR YOUR EVALUATION
The Questions to Settle Before You Sign
If a past system arrived late, showed you features that were still on a roadmap, or made your data hard to get back, put these to VCA and to every vendor you compare.
- The Claims You Already HaveWhen your claims come from another system, the data import is planned as part of implementation, and it is the import, more than setting up your account, that shapes the timeline. Vanguard Claims moved 36,000 claim files onto VCA on a tight four-month timeline.How Migration Works →
- Your Terms, and London'sYour reserve types keep your own names. The first time you run the bordereau, you map each one to Lloyd's indemnity, expense and fees, and VCA keeps the mapping for every run after. Risk codes and classes of business come from Lloyd's published lists, and VCA adds a new code once Lloyd's publishes it.
- When Lloyd's Changes the StandardVCA adds new Lloyd's reporting requirements to the product as Lloyd's publishes them. Ask any vendor you compare which Lloyd's changes it shipped in the last two years, and when.
- Your Data, in Your WarehouseDataBridge, an add-on to VCA ClaimsCore, pushes your claims data into your own environment, such as your data warehouse, hourly, daily or weekly, sending only new or changed data.About DataBridge →
- Where Your Data Is Held, and How It Comes BackAsk where claims data is hosted and under which jurisdiction, and the format, timeline and cost of returning it at the end of an agreement. Get the answers in writing, from VCA and from every vendor you compare.
- Ask to See the Record, LiveAsk every vendor you compare to open a claim in the working application and show you each row of the oversight table above.
WHY VCA
Why Delegated Operations Choose VCA
A delegated operation is judged twice: on the claim, and on the report drawn from it. VCA goes deep in claims, so the report holds up when the managing agent opens the claim behind it.
- Depth of Claims ExpertiseBuilt from the claim up, by an adjuster, for the people who work the claim and the market that reviews it. VCA has been building claims software for more than 20 years.Why VCA →
- Speed of ImplementationDiscovery first, then live in weeks. For a new Lloyd's client, the first step is setting up each contract at its UMR, and everything else follows from it.
- Capital EfficiencyClaimsCore runs beside the policy system you already have, and LloydsConnect is added for London's reporting, at a fraction of the cost of a core replacement.
Common Questions About Lloyd's Claims Software
What is LloydsConnect?
LloydsConnect is the Lloyd's add-on to VCA ClaimsCore, for delegated claims administrators (DCAs) and coverholders, under the managing agent's oversight. Each binding authority is set up at its Unique Market Reference, and every claim flagged against it carries the contract detail. From those claims LloydsConnect produces the Lloyd's Standard Bordereau, the Standard Bordereau with Certificate Allocation, the Lloyd's MI report and the Lloyd's Solvency report.
Does Lloyd's Principle 4 apply to us if we are a DCA or a coverholder?
The Principles bind managing agents. As a delegated claims administrator (DCA) or coverholder you are not held to Principle 4 directly, but you carry it in practice, because it reaches you through the managing agent's oversight, audit, and reporting requirements.
We handle claims under more than one binding authority. Does that work?
Yes. Each contract is set up on its own Unique Market Reference, with its own risk code and contract details, and each claim is attached to the UMR it belongs to. Each contract's bordereau is drawn from the claims identified against its UMR.
Can the parties we report to see our claims between bordereaux?
Yes, with ClientPortal, an add-on to VCA ClaimsCore. It gives the parties you report to a branded login to the claims that concern them, read from the same ClaimsCore claim: status, shared notes, financials, and, if you turn it on, reserve history with who changed each reserve and why. Access is granted per representative, and each one sees only the claims you open to them: all of the client's claims, only the claims they are the rep on, or by Lloyd's classification. Which tabs show is set once for the whole portal. Notes marked Internal stay off the portal.
Can we run our domestic book in the same system?
Yes. VCA ClaimsCore supports every property and casualty line of business (not workers' compensation or health benefits claims), so your Lloyd's claims and your domestic claims run on one platform, and LloydsConnect produces the Lloyd's reporting from the same claims.
How long does it take to go live with LloydsConnect?
Every VCA implementation starts with an analysis of how your claims actually move, before anything is configured, and values such as authority limits are set to your book at onboarding. On a Standard License, configured to your workflows, VCA is live in 3 to 4 weeks; Enterprise License deployments take 8 to 16 weeks and Carrier License deployments 12 weeks to 6 months. For your handlers the learning curve is short: file handlers typically need 30 to 60 minutes of training.
Bring us a claim where the promise was hard to keep
Tell us which contracts you report against and who you report to, and we'll show you a claim attached to its UMR, worked in ClaimsCore, and on the bordereau you send to London.
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