WIN Magazine - Winter 2015 - (Page 42)

FEATURE SIMPLIFYING AND ENHANCING BINDING AUTHORITY BUSINESS PROCESSES: A PERSONAL PERSPECTIVE BY SARAH MENDOLA I N THE MORE than two decades I have had the pleasure of working in the North American bind- ing authority market, there have been some top- ics when it comes to working with Lloyd's syndicates which have come up again and again. The Lloyd's mar- ket has built a strong reputation for underwriting expertise, and its tradi- tion and track record are, in my view, understood and respected. There are however, some obstacles to business which have understand- ably frustrated North American cov- erholder partners and some slight misconceptions about how this his- toric marketplace operates and the products and services it offers. These issues have been taken on board, and efforts are being made to simplify and enhance business processes to allow for improved accessibil- ity for Lloyd's largest marketplace. Premium income from delegated authority underwriting is already a significant part of Lloyd's overall premium income, with the North American marketplace representing a key component of this. Lloyd's can sometimes be seen as a single entity with one standard when it comes to products and services. This is understandable, as the Lloyd's brand is as widely recognized - and in many cases more so - as the car- riers which operate under its roof. 4 2 | v i e w t h i s i s s u e a t |

Table of Contents for the Digital Edition of WIN Magazine - Winter 2015

How Programs Can Drive the Future: Education, Creativity and Incubation
The Guide to Developing & Marketing a New Program
Maximizing Value for Acquisition: A Guide for MGAs
Drones Take Flight: Key Issues for the Wholesale Insurance Market
A Budding Emerging Issue: The E&S Market Responds to Marijuana Legalization
Simplifying and Enhancing Binding Authority Business Processes: A Personal Perspective
Deaf Students Poised to Seize Career Opportunities in Risk Management & Insurance Field
AAMGA Education Foundation Announces 2016 Annual White Paper Contest for RMI Students
In the WIN-ner’s Circle: Bryan Sanders, President of Markel’s Wholesale Division
Index of Advertisers

WIN Magazine - Winter 2015