LIMOSS and Charles Taylor have signed a contract for the provision of DDM as an elective market service via LIMOSS.

The elective service will be available from 15 September 2024 and heralds an exciting new chapter for the DDM service which has enjoyed its position as the London Market’s core service for delegated authority bordereaux processing since 2018.

The longstanding collaboration combines deep insurance knowledge, cutting-edge technological expertise and a roadmap for the future to deliver exceptional customer service. DDM has processed £billions of risk, premium and claims data related to this significant proportion of London Market business. Managing agents, brokers and other market participants may now continue to enjoy the benefits of this highly proven delegated authority solution that has been designed, built and further developed to meet the needs of the London Market.

As part of DDM’s future roadmap, significant enhancements are planned, driven through a customer centric approach including support for credit control, bordereaux reconciliation, transactional reconciliation, aged debt, and interoperability with external platforms.

“Our goal is to provide an exceptional market service,” said Patrick Molineux, MD of LIMOSS. “Working closely with Charles Taylor has helped to transform delegated authority business in the London Market, and we look forward to continued collaboration and the competitive development of DDM as an elective service for bordereaux management.”

Arjun Ramdas, CEO of Charles Taylor InsureTech, added: “Charles Taylor is ideally positioned to support LIMOSS and our end clients through this transition. We are delighted to offer DDM as an elective service and that Tide will be the foundation for continued growth and innovation. Our scalable solution ensures that market participants will benefit from proven digital capability and continuity for effective bordereaux management. I would like to thank Patrick and the wider team at LIMOSS for their outstanding contribution to getting DDM to this stage and I look forward to this new chapter of our relationship to drive increased adoption and user satisfaction for this important market service.”