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Lloyd's Contract Confidence version 3 released to the Market

Updated: Dec 23, 2021

Imagefast have announced the release of version 3 of the Lloyd’s Contract Confidence tool that helps Lloyd’s managing agents, syndicates, and brokers to compare and check their contracts for consistency and quality quickly, easily, and with confidence that there are no unseen and unknown discrepancies, omissions, or wordings problems.

Lloyd’s Contract Confidence (LCC) is an innovative and powerful cloud based solution that was developed with the market, for the market, and with the full support of Lloyd’s of London.

LCC has now been on full release for 2 years and is actively used by many organisations for performing contract checks. The new version 3 has focused on three key areas of improvement, making the tool easier to use, improving the speed at which checks can be performed and increasing the accuracy of the results that it produces.

The key changes are highlighted in more detail below;

  • Quicker and more accurate processing of checks – improving the processing time taken to extract data from contracts with increased accuracy.

  • Improved check results screen – simplifying the contract review process for users, including the ability to start a check and be automatically redirected to the results.

  • New side-by-side layout for document comparison – allow users to view old and new contracts side-by-side with simple navigation of revisions.

  • Improved Document view – users are now presented with a view of the original document rather than am HTML rendition. This improves the contract review process as all annotations are visible.

  • Hot Topics checks – users can select the hot topics that they want checked within a document and version 3 treats this as a module that can now be activated or deactivated per check.

  • Improvements to the Lloyd’s PBQA check accuracy – significant improvements have been made to the rules of the Lloyd’s PBQA checks using improved OCR and header/text recognition.

  • Automated scheduling for MI reports – users can now schedule MI reports to run when required ensuring they are ready for the users when they need them.

For more information on Lloyd's Contract Confidence please get in touch to arrange a demonstration or find out more information.

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