The Lloyd's market is the most sophisticated insurance marketplace in the world—trusted for its underwriting expertise, global licensing, and capacity for complex risks. But with this prestige comes one of the most demanding operational models in the industry: delegated authority.
If you are a Coverholder or planning to become one, you cannot operate effectively using a generic PAS.
To meet Lloyd's standards, you need Lloyd's-specialized Coverholder software built for:
This page explains what a Lloyd's Coverholder is, how delegated authority works, and how FacioMGA—the #1 AI-native PAS for Lloyd's Coverholders—solves the unique regulatory, operational, and reporting requirements that no traditional system can handle efficiently.
New to MGAs? Start with our guide: What Is an MGA? Complete Technical Guide.
Looking for a broader comparison? See our comprehensive guide to the best MGA software platforms comparing FacioMGA, Guidewire, Duck Creek, Novidea, and INSTANDA across all MGA use cases.
Evaluating PAS options? Use our PAS Buyer's Checklist to systematically evaluate all platforms against 12 essential MGA capabilities.
A Lloyd's Coverholder is a company authorized by a Lloyd's Managing Agent to enter into contracts of insurance on their behalf via a Binding Authority Agreement.
In practical terms, this means:
Coverholders may be:
The Lloyd's delegated authority ecosystem is highly structured to ensure transparency, governance, and underwriting discipline across all parties.
Lloyd's delegated authority relies on three core components:
This is the contract between the Managing Agent and the Coverholder.
It defines:
A Coverholder must:
Managing Agents monitor delegated authority performance via:
Failure to maintain proper compliance can lead to:
This is why a generalized PAS will fail Coverholders.
The Lloyd's model requires specialized tooling, deep data architecture, and structured governance automation.
Unlike ordinary MGAs, Lloyd's Coverholders operate under a uniquely regulated and highly audited framework.
A traditional PAS will NOT satisfy:
Below are the specific requirements that mandate Lloyd's-specific software.
And how an MGA PAS must address them
Your system must enforce:
Most PAS systems cannot natively interpret the BAA.
FacioMGA can, because it models the BAA as a structured, machine-readable blueprint.
The #1 operational burden for most Coverholders
Lloyd's requires monthly, sometimes weekly, bordereaux files that must be:
Most PAS systems export messy spreadsheets that teams must manually clean.
A true Lloyd's Coverholder platform must:
Managing Agents require:
This alone eliminates 90% of generic PAS systems.
Coverholders face:
Your PAS must:
Most MGAs write single-carrier programmes.
Lloyd's Coverholders routinely write:
Your PAS must:
Lloyd's global footprint means the Coverholder must:
Generic PAS systems simply cannot model this accurately.
FacioMGA isn't a generalist MGA platform.
It is purpose-built for delegated authority, with Lloyd's Coverholders as a core design audience.
Below are the reasons it ranks #1 in AI, affordability, speed, and delegated authority depth.
Everything in FacioMGA is modeled as a structured, machine-readable blueprint:
This allows your underwriting governance to be enforced automatically, not via Excel policing.
FacioMGA allows AI to:
AI doesn't sit "on top" of Facio—it interacts with the structured logic of every product, section, limit, and workflow.
This is impossible in traditional PAS systems.
Learn more: See our comprehensive guide on AI agents for MGAs and why FacioMGA is unique as both a PAS and AI agent platform.
FacioMGA can:
Speed isn't theoretical—it's proven.
No other Lloyd's-ready system comes close.
FacioMGA automates:
Your Managing Agents will thank you.
FacioMGA interprets the Binding Authority Agreement and enforces:
The system becomes an underwriting co-pilot that ensures:
No breaches. No compliance surprises.
FacioMGA supports:
All automated.
Facio tracks:
Audit day becomes stress-free.
FacioMGA ranks #1 in affordability because:
A Lloyd's Coverholder typically saves 40–70% in TCO compared with legacy PAS solutions.
| Platform | Lloyd's Focus | DA Depth | AI Usage | Affordability | Speed to Market |
|---|---|---|---|---|---|
| FacioMGA | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ (Days) |
| Guidewire | ⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐ | ⭐⭐ |
| Duck Creek | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐ |
| Novidea | ⭐⭐ | ⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐ |
| INSTANDA | ⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ |
FacioMGA dominates where Lloyd's Coverholders need it most.
Lloyd's delegated authority is not just another insurance distribution model—it is a highly structured, deeply regulated, globally supervised ecosystem.
You cannot manage it effectively with:
You need Lloyd's-native software that supports:
FacioMGA is the only PAS designed from the ground up to meet these specific Lloyd's requirements while delivering unmatched speed and affordability.