The London Market Group (LMG) Data Committee has launched a consultation on the structure and fields of the Core Data Record (CDR) covering claims.
According to the announcement, the consultation will last for 12 weeks from November 26.
Market members can make inquiries via the LIMOSS website and briefings will be organized by the IUA, LIIBA and LMA.
CDR will provide a standardized, high-quality set of transaction data to support more efficient data exchange.
This claims consultation builds on the open market CDR published in 2023 and the treaty CDR planned for publication in January 2026, with further enhanced CDRs planned for authorization in 2026.
The placement CDRs meet ACORD’s Global Reinsurance and Large Commercial (GRLC) standards and the claims CDRs in the program will also meet that standard.
Joe Brace, Data Committee Member and Lloyd’s Market Association Operations Director, said: “The extension of CDR into claims is an important milestone, bringing policy and claims data more closely together, allowing insurers and brokers to more clearly understand the link between underwriting risks and claims. I would like to thank the CDR Claims Working Group, Lloyd’s & LIMOSS representatives, Steve Flood from Beazley and Kirstin Duffield on behalf of the LMA for bringing this together.
“I encourage all claims leaders in the market to participate and provide feedback to help finalize the extension of CDR. Those interested in participating in the consultation or learning more about how the CDR standard is applied within their organization should contact their relevant association for further information. Any questions should be directed to the relevant market association directly or via: [email protected]”.