Lloyd’s, partnered with Accenture and mea Platform, has launched a local ‘Summary of Coverage’ service, available for free to all managing agents to support Lloyd’s Multinational offering.
To complement our multinational capabilities and the unique advantages offered by our global licences, our summary of cover service provides local customers with certainty on their coverage in their local jurisdictions.
The service, available at no extra cost, details local policy information specific to that territory and will reassure clients of their coverage and help satisfy their local operating requirements, promoting the adoption of more multinational programmes within the Lloyd’s market.
The service is available in all territories where Lloyd’s hold a direct licence.
Our multinational capabilities allow us to provide a simple and compliant solution for our global customers. Lloyd’s licences offer a unique advantage; for 80 territories globally Lloyd’s can write insurance business cross-border from London on a single policy, reducing the need for local polices.
To complement this, our summary of cover service provides local customers with certainty on their coverage in their local jurisdictions.
The service, available at no extra cost, provides documentation detailing local policy information specific to that territory and will reassure clients of their coverage and help satisfy their local operating requirements.
The service will be automated with AI technology provided by mea Platform and was designed with guidance from a working group of Lloyd’s managing agents and carriers. Customers can request the documentation via their broker and/or carrier.
The service is available to all managing agents and covers approximately 80 territories where Lloyd’s hold a direct licence, including all European territories via Lloyd’s Europe (Lloyd’s Insurance Company).