Building the market standard for contract quality assurance

Where they started

Lloyd’s of London is the world’s leading specialist insurance and reinsurance market. With thousands of contracts flowing through the marketplace each year, ensuring the quality and consistency of contract wordings was a persistent and growing challenge.

Contract checking was largely a manual process — time-consuming, error-prone and expensive. Teams across managing agents, brokers and insurers were individually reviewing contract documents against Lloyd’s requirements, with no standardised way to catch inconsistencies before they became problems. The risks were significant: regulatory fines, unintended coverage, claim disputes, and financial exposure that could affect both individual firms and the market as a whole.

Lloyd’s recognised the need for a purpose-built tool that could automate quality checks, compare document versions, and flag issues at the point of placement — before contracts were bound. The solution needed to work across the entire market, be easy to adopt, and align with Lloyd’s own pre-bind quality assurance (PBQA) standards.

What we did

Lloyd’s chose Imagefast to develop what became Lloyd’s Contract Confidence (LCC) — the market’s definitive contract quality assurance tool. The initial concept was built, tested and refined with direct input from market participants, ensuring the solution addressed the real, day-to-day challenges faced by firms across the marketplace.

LCC was designed to seamlessly check, compare and flag contract inconsistencies. It performs fast, accurate document comparison, showing exactly where changes have been made between versions. It runs the latest Lloyd’s pre-bind quality assurance (PBQA) checks against uploaded contracts, highlighting potential issues before contracts are bound.

Beyond the core PBQA checks, the platform allows firms to create custom rules tailored to their own risk appetite and internal policies — giving each organisation the ability to apply its own standards alongside the market-wide requirements. The result is a flexible, scalable tool that works for individual firms while maintaining consistency across the marketplace.

Since launch, Imagefast has continued to develop and enhance LCC in close partnership with Lloyd’s, responding to evolving market requirements and incorporating feedback from the growing user base. The solution is now the only contract quality assurance tool recommended by Lloyd’s for the entire market.