Chaucer Group Implement ViClarity's Lloyd's Minimum Standards Compliance Solution
April 22, 2021
Chaucer Group, a leading speciality (re)insurance group, have announced that they have partnered with ViClarity to implement their Lloyds Minimum Standards (LMS) compliance solution.
The deployment of ViClarity’s LMS compliance solution will create efficiencies by automating the collection and collation of compliance evidence allowing Chaucer to see compliance results in real time across the group. ViClarity’s reporting suite will then be used to instantly produce reports that the regulators require on an ongoing basis.
Commenting on the news, Michael Shaw, Head of Enterprise Risk Management at Chaucer Group said:
“We are looking forward to working with the ViClarity team to automate our attestation to the Lloyds Minimum Standards. The process can be very time-consuming and by utilising the ViClarity platform we look forward to spending less time trying to gather and collate data and more time analysing results.
Donal Lawlor, Head of Sales at ViClarity also commented on the development:
“We are delighted to welcome a partner such as Chaucer to our growing client base. We continue to see an acceleration toward risk and compliance automation across both the Lloyds and wider insurance market. We look forward to working closely with Mike and the Chaucer team.
About Chaucer
We are a leading specialty (re)insurance group providing clients with proven smart risk solutions for underwriting and claims. Our enterprising and trusted experts offer market leading cross class capabilities, empowered decision-making and a tailored approach. With our headquarters in London, and international hubs in Europe, MENA, Bermuda, Latin America and Asia, protect clients in over 200 countries and territories worldwide.
We offer clients the flexibility of both Lloyd’s and, through Chaucer Insurance Company, the company markets. Chaucer Insurance Company is rated A (AM Best) through China Re.
Our dedicated claims team completes our underwriting proposition, epitomising the capabilities required to handle even the most complex incident. We provide a first class claims service and most importantly, pay valid claims promptly. Gracechurch, the sector leading insurance research company and independent authority on London market performance, recognises our claims service as ‘outstanding’.
Our clients also benefit from the support of our parent company, China Re, a leading reinsurer in China, and one of the top 10 reinsurance companies in the world, which maintains excellent security ratings from A.M. Best and Standard & Poor’s. China Re is listed on the Hong Kong stock exchange (1508.HK).
For more information, please visit chaucerplc.com
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