LLOYD'S MARKET · FOR SYNDICATES AND MANAGING AGENTS
Claims Oversight for Syndicates and Managing Agents
Principle 4 binds the managing agent (MA), and the claims behind it are handled by the delegated claims administrators (DCAs) and coverholders on your panel. When they work on VCA, you oversee those claims as they are worked: every reserve change, contact and payment, in structured data, the day it happens.
FROM EACH DELEGATED CLAIM ON VCA
- Reserve ChangesEach movement, who made it and which fund account it came from.
- Contacts and PaymentsAs the delegated firm makes them, the day they happen.
- Above AuthorityA reserve past a handler's limit waits for approval, with a note on the claim.
- The Contract and Its PartiesThe UMR it sits under, and the retail agent, coverholder, Lloyd's broker and managing agent on it.
THE PROBLEM IT SOLVES
You're accountable for claims you can't always fully see, across people and partners you don't control. Under Principle 4, the managing agent has to show its working on them.
THE OVERSIGHT OFFER
Every Answer on the Claim
When your DCAs and coverholders work on VCA, each answer a delegated-authority review asks for is already on the claim, written by the people who did the work, on the day they did it.
WHAT AN OVERSIGHT REVIEW READS
Who Set It, When It Moved, and How Far
Reserve History
| Date | Movement and Reason | By | Amount | Fund Account |
|---|---|---|---|---|
| Mar 3 | Indemnity reserve setReason: First inspection | Handler A | $25,000 | Fund account 1 |
| Mar 17 | RevisedReason: Contractor estimate received | Handler A | $25,000 to $38,000 | Fund account 1 |
Pending Approvals
| Type | Requested Value | Review |
|---|---|---|
| Indemnity | $60,000 | Waiting for Approval |
Submitted to Claims Manager B, the approver Handler A chose. A note naming who it went to is written to the claim.
- Contacts and Payments, the Same DayEach contact and payment a delegated firm makes on the claim, in structured data, the day it happens.
- What Went Above AuthorityA reserve past a handler's limit is submitted to a chosen approver, waits in Pending Approvals, and writes a note to the claim.
- The Contract and Its PartiesThe UMR the claim sits under, and the retail agent, coverholder, Lloyd's broker and managing agent recorded as its participants.
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; delegated claims administrators (DCAs) and coverholders carry it through the managing agent's oversight, audit and reporting requirements.
The evidence a managing agent needs comes from the claims its delegated firms work. On VCA it is written as each claim is worked, in the form Principle 4 asks for.
THE WHITE-PAPER SERIES
VCA's three-part series, Proof, Not Attestation, written by Chief Product Officer Ilda Cairns, covers what Principle 4 requires and how to evidence compliance.
HOW IT REACHES YOU
Between Bordereaux, and in Your Own Warehouse
A bordereau tells you about the period. The claim tells you about today.
ClaimsAI by VCA™ reads each bordereau from a delegated administrator as it arrives, one document at a time, and every reading is attributed, reviewed and logged. Your team decides what it means. ClaimsAI arrives by the end of 2026.
The Claims, as They Are Worked
ClientPortal opens a delegated firm's claims to you: status, shared notes, financials, and reserve history with who changed each reserve and why.
Claims Data in Your Warehouse
DataBridge delivers claims data into your own data warehouse or BI tool on a schedule you set, as often as hourly, with only changes pushed.
Your Book, Side by Side
VCA Insights compares programs, carriers and offices, and drills from the portfolio to a single claim in one click.
A TYPICAL MANAGING AGENT PACKAGE
ClaimsCore, and What a Managing Agent Adds to It
Your seat runs on ClaimsCore. A typical managing agent package adds ClientPortal for the delegated claims as they are worked, DataBridge for the data in your own warehouse, and VCA Insights for reporting across the book.
Typical for Syndicates and Managing AgentsNot Typical for This Seat
- VCA ClaimsCoreWhere every claim is worked. Add ClaimsAI™ and it works inside the claim.
- DataBridgeData to your warehouse
- ClientPortalClients see their claims
- VCA InsightsAnalytics across the book
- InsuredConnectNot typical for this seat
- PolicyConnectNot typical for this seat
- ClaimsPayNot typical for this seat
- LloydsConnectNot 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 Managing Agents Choose VCA
VCA works with the delegated side of the Lloyd's market every day, so the oversight it offers is built from how delegated claims are actually handled.
- 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, mapping how claims and reports move between you and your delegated firms, then live in weeks.
- Capital EfficiencyOversight beside the systems you already run, with the claims data delivered into infrastructure you own.
Questions Managing Agents Ask
What does VCA give a managing agent?
Oversight. When the delegated claims administrators (DCAs) and coverholders handling a syndicate's claims work on VCA, the managing agent sees every reserve change, contact and payment they make, in structured data, the day it happens, in the form Lloyd's Principle 4 asks for.
Who does Lloyd's Principle 4 bind?
Lloyd's made claims management a hurdle Principle, Principle 4, as of January 1, 2026. The Principles bind managing agents. Delegated claims administrators (DCAs) and coverholders carry Principle 4 through the managing agent's oversight, audit and reporting requirements.
What can an oversight review read from a claim on VCA?
Which contract the claim sits under, from its Unique Market Reference; each reserve movement, who made it and which fund account it came from; any reserve submitted above a handler's authority and who it was sent to; and the claim's participants: the retail agent, the coverholder, the Lloyd's broker and the managing agent.
Can we read our delegated claims between bordereaux?
Yes, where the delegated firm runs ClientPortal, an add-on to VCA ClaimsCore. It gives the parties a firm reports to a branded login to the claims that concern them: status, shared notes, financials, and reserve history with who changed each reserve and why. Access can be set by company, by claim, by Lloyd's classification and by tab.
Can the claims data go into our own data warehouse?
Yes, with DataBridge, an add-on for organizations that run a data warehouse or BI tool of their own. It delivers VCA claims data there on a schedule you set, as often as hourly, with only changes pushed, in a standardized data model and with no custom API connectors for your team to build.
How long does implementation take?
Every VCA implementation starts with discovery: VCA maps how claims and reports move between you and your delegated firms before anything is configured. Your license band is scoped at quote: Standard License deployments go live in 3 to 4 weeks, Enterprise License deployments in 8 to 16 weeks, and Carrier License deployments in 12 weeks to 6 months.
Bring us a claim where the promise was hard to keep
Tell us how your delegated panel reports to you today, and we'll show you a delegated claim's reserve history, approvals and parties as an oversight review would read them.
Request a Demo