Track binding authority agreements, monitor coverholder performance, and maintain audit-ready compliance records — whether you are the delegating insurer or the coverholder.
Managing delegated authority relationships — whether as the capacity provider overseeing coverholders or as the coverholder evidencing compliance — requires systematic tracking of agreements, performance metrics, and regulatory obligations. Most firms manage this through a combination of shared drives, spreadsheets, and calendar reminders, creating gaps that only surface during audits.
Binding authority agreements, terms of business, and coverholder appointments have renewal dates, amendment histories, and compliance conditions that are hard to track manually.
Capacity providers need to monitor loss ratios, premium volumes, and underwriting quality across their delegated authority portfolio. Assembling this data from bordereaux and claims feeds is time-consuming.
Lloyd's and FCA requirements for delegated authority oversight — including annual attestations, audit programmes, and conduct risk assessments — create a significant compliance workload.
When a coverholder audit is due, evidence of compliance, underwriting controls, claims handling standards, and financial reporting must be assembled from multiple sources.
Purpose-built capabilities — not generic templates you have to work around.
Maintain a centralised register of all binding authority agreements with key dates, authority limits, territorial scope, and class of business permissions. Automated renewal and review reminders.
Monitor coverholder performance across loss ratio, premium volume, complaints ratio, and underwriting quality metrics. Set thresholds and receive alerts when performance deteriorates.
Track regulatory obligations — annual attestations, audit actions, conduct risk assessments — with assigned owners, due dates, and completion evidence.
Plan and execute coverholder audit programmes. Assign audit actions, track remediation progress, and maintain a complete record of findings and responses.
Store binding authority agreements, audit reports, compliance certificates, and regulatory correspondence in a secure, searchable document vault with role-based access controls.
A new binding authority agreement is registered with all key terms — authority limits, class permissions, territorial scope, reporting requirements, and key dates.
Performance metrics are tracked against agreed thresholds. Bordereaux data feeds update loss ratios and premium volumes automatically. Alerts fire when thresholds are breached.
Regulatory tasks — attestations, conduct assessments, sanctions screening — are scheduled with owners and deadlines. Completion evidence is captured and stored.
Audit programmes are planned and executed within the platform. Findings are recorded, remediation actions assigned, and progress tracked to completion.
At agreement renewal, performance data, compliance records, and audit findings inform the renewal decision. Terms are updated and the cycle restarts.
Try these tools to assess and improve your operations.
SwiftCase supports both perspectives. Capacity providers use it to oversee their coverholder portfolio, while coverholders use it to demonstrate compliance and manage their obligations. The same platform serves both sides of the relationship.
Yes. SwiftCase aligns with Lloyd's minimum standards for managing delegated authority arrangements, including coverholder approval processes, ongoing oversight, and the Lloyd's DA oversight framework.
Yes. The agreement register supports unlimited binding authority relationships, each with their own terms, limits, reporting schedules, and compliance requirements.
Performance dashboards are fed by bordereaux and claims data. Metrics include gross written premium, loss ratio, claims frequency, average claim cost, and complaints ratio. You set thresholds per agreement, and the system alerts you when performance breaches those thresholds.
Yes. Each audit finding is recorded with severity, owner, due date, and required evidence of remediation. The system tracks progress and escalates overdue items to the responsible senior manager.
See how SwiftCase gives you complete visibility of binding authority agreements, coverholder performance, and regulatory compliance — in one platform.
