The London Market Group's (LMG) Data Council has opened a 12-week consultation on the proposed claims component of the Core Data Record (CDR), marking a significant step in the market's ongoing digitalisation agenda.
The consultation invites brokers, carriers and market service providers to review and comment on the draft structure and data fields that would form a standardised claims dataset.
The CDR is central to Blueprint Two and the London Market’s broader push to modernise and streamline data flows. The placing CDR, which was released in 2023, was designed to introduce consistent core information at the submission, quote and bind stages, helping reduce rework, reconciliation issues and delays in processing. However, many firms have urged for similar rigour to be applied to the claims lifecycle, where inconsistent data capture continues to create friction and cost.
Extending the CDR into claims aims to close that gap. A unified set of fields covering notification, assessment and settlement is expected to support more reliable data exchange and clearer links between the risks underwritten and the claims that follow. Improving claims data quality is seen as essential to achieving meaningful automation, reducing duplication between brokers and carriers, and enabling faster settlement for clients.
Joe Brace, data council member and operations director at the Lloyd's Market Association, said the move represents an "important milestone" in bringing placement and claims data closer together. He acknowledged the work of the CDR Claims Working Group, Lloyd's, LIMOSS and market representatives, including Steve Flood of Beazley and Kirstin Duffield for the LMA.
Brace (pictured) also urged claims leads to submit feedback and to contact their associations, or the LIMOSS service desk, for guidance on implementation.
The claims consultation builds on the open market CDR already in use and comes ahead of the treaty CDR due for release in January 2026. Additional development is planned throughout 2026, including enhancements for delegated authority business.
A key feature of the CDR programme is its alignment with ACORD’s Global Reinsurance and Large Commercial (GRLC) standard. This is designed to ensure that London’s data structures are interoperable with global insurance markets and external systems, reducing mapping challenges and enabling smoother cross-market trading.
Firms are being encouraged to act now to embed the ACORD GRLC standard into their operational planning for 2026 and beyond, as adoption becomes increasingly important for market participation.
