CMC
Produce, manage and store wordings and products in an online ACORD template builder.
Contract Management Centre (CMC) lets users design, build, store and manage submission, quote and contract forms, or underwriting products. It comes with a library of standard templates for each type and class of business. It also holds users’ own customised templates.
Already part of the Qatarlyst collaboration and electronic placement services, it can also potentially be connected to customer’s business process applications or wordings repositories.
Brokers can use the CMC to create their own branded contracts and submission templates. Defined by class and type of business, they can be completed with the applicable clauses or wordings to be stored in a library and used for collaboration or placement.
For carriers, the CMC lets them manage wordings centrally to ensure that all products traded by underwriters are compliant. It also provides carriers with a means to standardise their wordings using the latest ACORD GPD standards framework.
Why the Form Publisher?
ACORD Data Dictionary
The CMC offers the relevant Global Placing Document (GPD) fields and RLC dictionary data items for each and every class of business, allowing companies to manage and share contract documents required by their users and customers.
It sits on a comprehensive ACORD GPD standards-based data dictionary of fields and their data attributes. It can look up contracts/clause libraries and wordings repositories to make it easy for users to design and store bespoke products, contracts and submission templates. Such templates can be controlled centrally by contract managers and distributed amongst their organisations through process controls.
Branding
The CMC allows customers to maintain their own product differentiation whilst still trading over Qatarlyst e-placement service. This is not restricted merely to company branding, but to the fields and order of fields within the document, which can be organised precisely to fit the corporate requirement.
Management information
Where contracts have been built in the CMC and then placed on the Marketplace, Qatarlyst automatically stores copies of traded documents and records of their counterparties in a separate file store. The bound contracts file store provides a valuable source of management information and audited records for companies wishing to interrogate copies of traded risks.
Library
The online library, part of CMC, also supports the DMC and the Marketplace. The library can interface with other repositories or applications and is particularly valuable in support of product design, where ACORD based templates can be built and managed and then completed by accessing the relevant clause of wording content held in a variety of sources.
Features and benefits
ACORD Data Dictionary
All contract data fields are based on an ACORD Global Placing Document (GPD) data dictionary consisting of more than 700 items for each and every class of business. It can easily be integrated to customers’ back-office and administrations systems.
Audit Trail
All changes to contract templates, including who changed what and when, are recorded and stored. The evolution of a contract template is recorded.
Templates
Users have a choice of either a suite of standard insurance and reinsurance templates or a blank template, both fully customisable. Users have the ability to create fully bespoke contract templates for any type of class of business.
Version Controls
Users can compare different versions of a contract template. Users can easily identify all changes made to the contract template.
Multi-section Contracts
In addition to creating bespoke contracts, users can section the contract in any desired way. It aids build of complex insurance and reinsurance contract templates.
Branding
CMC licence holders can brand their own contracts. It preserves the corporate identity.
Contract Library
All contracts and contract templates can be stored in the contract library. Web based contract library provides efficiency and compliance tool, making available only those contracts published for external use.
Market Reform Contract Validation
Users can validate contract templates and documents against Market Reform recommendations for each type and class of business. It supports technical checking of contract wording.
Interested?
Kelly Fegan
Director of Client Services
kelly.fegan@qatarlyst.com
+44 (0) 20 3535 8320