From initial registration through to approval, Svalinn will guide the Managing Agent's prospective Coverholders through the application process. Svalinn's service to Managing Agents extends into business as usual Coverholder support.
Svalinn offers pre-settlement validation and premium settlement services in close cooperation with the client's Finance Team, ensuring full transparency and efficient post-settlement reconciliation.
Svalinn can carry out compliance themed audits on Coverholders for Managing Agents, including but not limited to tax and regulatory reporting (the Control Framework), conduct risk and Financial Crime & Sanctions.
With close ties to Lloyd’s and Xchanging, Svalinn is able to offer full processing of premium and claims, resolving any issues that may arise during the course of the Binding Authority period.
Svalinn offers quick and efficient claims settlement with full transparency and post settlement reconciliation.
In close cooperation with the Managing Agent’s Finance Team, Svalinn can settle and reconcile large non-cash figures quickly and efficiently, including complex legacy data.
Svalinn will ensure that from the outset, Coverholder’s processes are suitable and robust enough for managing business through to the Underwriter. Training focusses on Lloyd’s systems and services as well as Xchanging tools, along with reporting requirements and correct document completion.
Using an internal broker to bring business directly to the Underwriter can be less risky and far cheaper means of developing markets and distribution channels than establishing a Service Company. Svalinn will manage the setup process and train Managing Agent staff in the use of broker systems.
Svalinn’s contract specialists will create documentation specific to the Managing Agent’s needs that is fully compliant with Lloyd’s, national, and international regulation
Svalinn will periodically review all processes relating to a Managing Agent’s project in order to guarantee efficiency and suitability.
Svalinn carries out thorough compliance checks at Binding Authority renewal, ensuring Coverholders are fit for purpose and reducing exposure for Managing Agents.