Tag: CDR

The London Market is on the precipice of a digital transformation, and one significant initiative propelling this change is the Core Data Record (CDR). This strategic move aims to standardise and streamline the collection of critical transaction data, marking a pivotal leap in market efficiency. InsurTech Novidea explains why CDR matters for London market brokers. 

The insurance industry relies heavily on efficient data communication, and two key terms, the Core Data Record (CDR) and the Market Reform Contract (MRC), play significant roles in standardising this communication. While distinct, both concepts contribute to insurance processing and documentation, streamlining operations in the sector.

Novidea has launched a platform designed to help brokerages deal with the digital revolution started by Lloyds’ implementation of the Core Data Record (CDR).