Which brokers would benefit from back-office support from an external provider?
- Any existing Accredited Lloyd’s Broker with currently outsourced broker support or a broker that needs occasional relief in Broker Support
- A new entrant applying for Accreditation who would prefer not to wait for the Certificate of Competence from Xchanging before being able to trade as a Lloyd’s Broker
What aspects of back-office support are covered by Helodrium?
Essentially, you can outsource to Helodrium anything that is not broking or claims broking:
- Documentation – Helodrium can produce the slips for signing by underwriters and London Premium Advice Notes for presentation with slips when uploading premiums for Accounting and Settlement transactions using the Insurers’ Market Repository
- Insurers’ Market Repository signings – Helodrium will sign individual premiums and claims, as well as FDOs with monthly premium and claims bordereaux using your Central Settlement Number.
- Policies – through an associated company we can provide manuscript policy wordings for signed contracts.
- Claims – Helodrium can assist you with the upload of claims reports and transactions to the IMR, using ECF and CLASS
- Coverholder applications – Helodrium can assist brokers with coverholder clients throughout the application process for Lloyd’s coverholder approval.
- BAR Registration – We will take Delegated Underwriting Contracts through the entire process to full registration
- Atlas relationships – Once Lloyd’s approval has been achieved we can set up the relationships required before binding authorities can be registered.
- Crystal – we can ensure your compliance with all tax issues from the jurisdictions from which your business emanates, using Lloyd’s “Crystal”.
- Client Money Account – if you are a UK authorised intermediary, we can monitor your Client Money Accounts for receipt of funds for premiums and claims and separately we can arrange for brokerage transfers to your operating account.
- Banking, Accounting, Compliance and Human Resources – we can introduce you to providers of all these services.
Why use Helodrium?
- Approved service provider. We are a Lloyd’s and Xchanging approved service provider.
- Independent. We are not already a broker topping up revenue; our outsourcing clients are our business.
- Cost Effective. Helodrium charges are calculated by the process not as a share of your brokerage. It costs you the same to process a premium of £100,000 as it does a premium of £1,000.
Who is Helodrium?
Helodrium is both a consulting firm and an outsourced service provider with multiple decades of experience in the London Market with extensive access to people in all kinds of professional roles to call upon for advice and assistance on behalf of applicants whenever this is needed. Helodrium has extensive experience in commercial broking environments, and periods at the then Financial Services Authority and the Admissions Department of Lloyd’s mean that the team can offer practical experience of the organisations that it will approach on behalf of applicants.