Question 1

What makes Genasys suited to London Market business?

Accepted Answer

Genasys is built for the structural complexity that defines London Market business. The platform handles binding authorities, lineslips, facultative reinsurance, co-insurance, capacity splits, multi-currency accounting and multi-jurisdictional tax within a single system. Managing agents, service companies, syndicate-backed MGAs and coverholders use Genasys to write and administer business that moves through Lloyd's and the company market. The platform has been deployed across specialty and commercial lines with clients including Hamilton, Hayes Parsons and GuardRisk. It is configured rather than custom-developed, which means new products, wordings and rating structures can be launched by business users without waiting for vendor release cycles.

Question 2

How does Genasys support delegated authority and coverholder operations?

Accepted Answer

Delegated authority is a core Genasys use case. Managing agents and carriers can define binder terms, control exposure aggregations, monitor coverholder performance and automate settlement against agreed commission and fee structures. Capacity splits, profit commission, sliding scales and overrider arrangements are configured at binder level and applied automatically across the book. Coverholders can write business directly on the platform using the no-code product builder to configure rating, rules and documents for binder-specific wordings. For carriers receiving third-party data, Genasys ingests structured bordereaux and reconciles entries against binder terms before posting into the policy , claims and billing ledgers.

Question 3

How does Genasys automate bordereaux processing and DA reporting?

Accepted Answer

Bordereaux are processed through structured data feeds rather than manual spreadsheet cycles. Coverholders, TPAs and MGAs submit risk, premium and claims data into Genasys through B2B APIs or standardised file formats, with validation and reconciliation applied at the point of ingestion. Exceptions are surfaced against binder terms and written back to the source for correction, which removes the end-of-month clean-up work that traditional bordereaux handling generates. Data is posted into the platform in near real time, giving managing agents live visibility of exposures, aggregates and loss ratios across their delegated portfolios rather than a 30 to 60 day lag. Output formats can be configured to align with Lloyd's Coverholder Reporting Standards and Core Data Record requirements.

Question 4

With Blueprint Two shelved, where does that leave London Market digital transformation?

Accepted Answer

The wind-down of Blueprint Two at the end of 2025 has shifted responsibility for digital transformation back onto individual firms rather than a central market programme. For managing agents, MGAs and coverholders, this means owning the data, automation and integration work directly rather than waiting for a market-wide platform to arrive. Genasys is built for that reality. The open API architecture allows connectivity to placing venues such as PPL and Whitespace, bureau services via Velonetic, data enrichment providers, payment rails and general ledgers through the same endpoint model. Policy, claims and DA reporting workflows are native to the platform rather than dependent on central services. Firms that have invested in their own technology stack are in a stronger position than those that paused for the programme, and Genasys is designed to support that approach.

Question 5

Does Genasys handle the multi-currency, tax and regulatory demands of international specialty business?

Accepted Answer

Genasys has a native multi-currency engine built into the policy, claims and billing modules. Premium, commission and claim payments can be booked and settled in any combination of transactional, reporting and settlement currencies, with FX rates applied automatically at configurable points in the policy lifecycle. The platform supports multi-jurisdictional tax calculation across IPT, stamp duties, municipal taxes and sales taxes applicable to international programmes. Regulatory outputs are produced through configurable data extracts that align with Solvency II, Lloyd's returns and local market requirements in the territories where clients operate. For managing agents running international business from London, this removes the need for separate systems to handle cross-border tax and reporting.

London Market Insurance Software

Complex risk.Simple software.

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London Market modernisation, without the twelve-month project

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Complex risk.
Simple software.