The system allows agents and brokers cooperating with Leadenhall to produce indications, quotes and bind policies on any mobile device 24 hours a day, 7 days a week.
In the case of promising distribution opportunities, affinity groups and central programs we can set up for our partners white labelled direct sales (B2C) platforms for automatic policy binding and online payments (Dotpay).
Brokers, agents, and our Leadenhall underwriters work in the same online system. One of the benefits is the possibility to negotiate and instantly modify quotes online with full versioning history of changes. Leadenhall's underwriting team spends most of its time dealing with quotes that, due to the risk profile or client's requirement, can't be transacted automatically but require our approval or referral to our syndicates.
Binding quotes can be converted into a policy by a broker or an agent logged into the system. In cases where the policy binding process does not require a signed application for the Insured the policy is available immediately. In situations where we require a signature on the application, the policy will be available immediately after the uploading of a scanned copy of the completed application form onto Leadenhall's online system and being verified by our team.
Cancellations and MTAs are executed by Leadenhall underwriters based on requests made by brokers. Both are fed into the online system and automatically recorded in sales commission reports.
The online system supports recovery of premiums and settlement of commissions.
All data collected in the online system is available for underwriters and the Management of Leadenhall. Regular analysis allows us to improve our products. We systematically develop new MI tools to support brokers in their daily work.