I’m sure you’ve seen the I Love Lucy skit where Lucy and Ethel are working on an assembly line, wrapping candies at a chocolate factory. The goal is to have every chocolate on the conveyor belt wrapped before moving onto packaging.Read More
I recently posted a blog titled, “How to Manage Lloyd’s Audit Anxiety.” In it, I talk about four things coverholders fret over during their audit. Now, let’s turn the tables and find out what can make a Lloyd’s auditor anxious.Read More
Software training is a critical piece of the new software implementation process. You would think that, as adults, training participants show up and fight for the seats at the front of the class, right? Maybe not. Training participants can usually be categorized into one of three profiles: the prisoner, the tourist and the explorer.Read More
If you haven’t read the book, you’ve probably seen the film. A Christmas Carol is the story of Ebenezer Scrooge, a grouchy, old miser whose dreams are haunted by three different ghosts in and around the Christmas season.Read More
As a Lloyd’s Canada coverholder, you know Year of Account (YOA) forms part of your reporting criteria. While YOA is easily managed in year one of low-volume binding authority agreements, there are plenty of events that occur over the lifespan of multiple renewing contracts that make tracking YOA more difficult.Read More
Lloyd's Lineage is an online portal used for the reporting and settlement of Canadian binding authority business that also generates reports for regulatory reporting.
Even though the portal is used for many things like accounting and claims settlement, Policy Works focuses on uploading commercial insurance transaction data (batches) generated by brokers and MGAs to the portal. Policy Works has been uploading data to the Lloyd’s Lineage portal for over a decade. Lorin McCaffrey, Director of Product Development at Policy Works, shares a few tips and tricks that will help ensure your batches upload smoothly.Read More
Everyone in the insurance industry around the globe knows that Lloyd’s is unique. It’s unique in that it’s the only insurance market in the world. Lloyd’s is also unique when it comes to things they insure like offshore oil drilling platforms and space shuttle missions.
One thing that is truly unique about Lloyd’s is their vocabulary. It is so complex, it has its own glossary. Here are five everyday words that have a definition all their own when visiting One Lime Street, London.Read More
Many coverholders don’t look forward to their annual audit. Even though most audit procedures are straightforward, it is normal to become harried at the thought of having someone come into your office and assess your most valuable book of business.
Cast aside all doubts, the situation is under control. Read on to find out why many coverholders get audit anxiety and what you can do to overcome it.Read More
Cari Gustavsen is the Branch Manager at Western Financial Group (South) in Medicine Hat, Alberta. We asked her to share her thoughts about the critical role management plays in the successful adoption of new software technology.Read More
Janice Castell is a Commercial Account Manager at Orr Insurance Brokers Inc. in Stratford, Ontario. We asked her to share her thoughts about our software and what advice she has for brokers not using Policy Works to its full potential.Read More