Transcript Opening up the market of choice

LMG Secretariat
LMG Forum
January 2012
Christopher Croft, LMG Secretariat
Rob Gillies, LMA
Mark Barwick, LIIBA
With
LMG Forum 2011
Agenda
• Modernisation update
• Endorsements – the road to March 5th
• ACORD RLC Programme
LMG Forum 2011
In ink, therefore it is…?
ECF2 Current Status 16 Jan 2012
Claims Workflow Triggers
(CWT)
Claims Agreement Services (CAS)
& Single Sign On (SSO)
Document File Viewer (DFV)
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22 carriers receiving live messages
16 fully integrated into own workflow
Other carriers to join by arrangement with Xchanging
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CAS & SSO are live
84 carriers plus XCS rolled out in production
Rollout is now largely complete, with only 4 carriers
remaining to be completed by the end of Q1.
•
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DFV is live and converting 5000 – 7000 documents a day
Some intermittent teething problems continue and are
scheduled for resolution by the end of Feb
Rollout in line with CAS & SSO schedule
•
Claims Workflow Services (CWS)
Claims Data Warehouse (CDW)
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Service deployed to 68 organisations
Only 1 organisation remains to be implemented by the
end of Q1
•
ECF001, ECF002, ECF003, ECF004, ECF005, LADD &
LREC are in use with 134 users
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© Xchanging 2011, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
eAccounts
eAccounts Current Production use
•
Miller, Price Forbes, UIB, Guy Carpenter, Aon UK, Lockton, Towers Watson and
Ropner continue with live operation
•
NMB, Houlder & Aon Benfield are undertaking business testing as part of convoy three
implementation.
•
The Winter maintenance release remains on schedule.
eAccounts Release 2 (R2)
•
Xchanging continue working together with the Market to deliver R2 using the ‘big
bang’ approach to delivery.
•
5 out of 6 final estimates and timescales for the requested change requests have
been delivered. Development has approved by the AAC. The corrections CR is
proving to be complex and we anticipate the estimate will be ready by the end of
January.
•
MAT planning continues
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© Xchanging 2011, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
LMG Forum 2011
LMG 2012 targets
Initiative
Target
Date
ECF
All new claims via ECF.
Increase ECF usage to 80% of all
open claims.
Q4
eAccounts release 1
12 brokers live; processing 20% of
their business.
Q2
eAccounts release 2
Deliver into live usage
Achieve 70% of potential live
volume.
TBC
Non bureau
business
10 new broker-insurer partnerships Q4
live.
Endorsements
Rollout across all classes
70% of endorsements processed
electronically
Q1
Q4
Electronic support
for placing
Agree roadmap
Existing & early adopter activity
Q2
Ongoing
LMG Forum 2011
Non Bureau Accounting
• Live partnerships involving:
– Aon
– Willis
– XL
– ACE
• Organising an event for
potential new participants
• Case study/business case
document to be published
LMG Forum 2011
Endorsements Manager of the Month
LMG Forum 2011
An Endorsements Manager of the Month
official partner
LMG Forum 2011
Endorsements broker of the month
LMG Forum 2011
Endorsements insurer of the month
LMG Forum 2011
Questions?
Agenda
Endorsement Initiative Update
Electronic Support for
Endorsements
January 2012
Agenda
Endorsement Initiative Update
Comments
 Build-up to 5 March – all classes in scope
 Reviews with MAs
 Broker implementations and broker engagement
Agenda
Endorsement
Initiative Update
Roll-out
matrix
www.londonmarketgroup.co.uk > Placing Support > Electronic Support for Endorsements
Exchange Message Volumes
Agenda
Endorsement
Initiative
Update
Managing
Agent
Data
Agenda
Endorsement
Initiative Update
Response
times
Agenda
Endorsement
Initiative Update
Response
times
Agenda
Endorsement
What
next Initiative Update
• Project surgeries
• Systems, procedures and practice document
• Readiness checklist
• Engagement with underwriting groups
• Communications
All classes live:
5 March 2012
Agenda
Endorsement Initiative Update
Questions?
Contacts
LMA
Lloyd’s Contacts
•
Rob Gillies
Telephone: 020 7327 8377
Email: [email protected]
•
James Bobbitt (Technical)
Telephone: 020 7327 5248
Email: [email protected]
•
Peter Holdstock
Telephone: 020 7327 8383
Email: [email protected]
•
Paul Willoughby (Project Management)
Telephone: 020 7327 6634
Email: [email protected]
•
Trevor Maddison (Relationships)
Telephone: 020 7327 5231
Email: [email protected]
LMG Secretariat contact
•
Steve Hulm
Telephone: 020 7327 5249
Email:
[email protected]
LIIBA Contact
•
IUA Contact
•
John Hobbs
Telephone: 020 7617 4445
Email: [email protected]
Chris Buer
Telephone: 020 7280 0154
Email: [email protected]
LMG Forum – ACORD Update
January 2012
Mark Barwick
Global Reinsurance Large Commercial
Programme Director, ACORD
Agenda
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•
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Placing
Exposure Reporting
Accounting & Claims
Roadmap
Month XX, 2011 24
Placing
• London Endorsements
• ACORD Form based placing in other markets
• Post placement message likely to be piloted in
2012 by Ruschlikon
• DRI placing Document delivery being considered
– better than email
• Exposure Reporting Message now available
Month XX, 2011 25
Exposure Reporting The Problem
• Insufficient, Little, if any, data supplied
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•
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Typically paper format
No standard database to capture schedules
Exposures recorded on cards / datasheets
Manually calculated exposures
• Data is costly and unreliable
• Requiring significant checking & re-work
• Inconsistent regarding data definitions
• A mixture of external and proprietary code sets
• regulatory requirements regarding data reliability
Month XX, 2011 26
How Can Standards
Help?
• Reliable data – consistent definitions and format assists
regulatory requirements to prove data is correct
• Cheaper data – The costs associated with receiving and
supplying data will drop since only one format to support
• More data – As data acquisition costs drop more data
will be provided
• Quicker data - receivers and senders of data don’t have
to reformat it and interpret it for each trading partner
Month XX, 2011 27
ACORD Exposure Reporting Standards
• Spreadsheet standards available for:
• Binding Authority property schedule – ER3001
• Simple address level reporting – ER3002
• Aggregated exposure reporting – ER3003
• XML standard available for all above as well as:
• Comprehensive Exposure Reporting
• Insurance specific code sets for:
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Perils
Construction types
Occupancy (usage) types
GeoCode Match Levels (precision of Lat/ Long
coordinates)
Month XX, 2011 28
Support for ACORD’s Exposure
Reporting Standards
• The three main cat modellers are committed to
implementing ACORD import and export
functionality - AIR Worldwide, EQECAT and RMS
• Other notable supporters:
• CRESTA
• PERILS
• Allianz, Lloyd’s, Scor, Swiss Re, Tiger Risk
Month XX, 2011 29
Accounting & Claims
• Premium and claims advice and settlement
• Insurance and Reinsurance, Broker or direct
• Geography – 6 continents & more than 30
countries
• EBOT – Electronic Back Office Transactions
• ECOT – Electronic Claims Office Transactions
• Ruschlikon Rulebook – target performance
standards
• Ruschlikon Lite – Low cost option for
cedents/brokers
Month XX, 2011 30
NON
FOUR
COMMITTEES
ONE
STANDARD
Month XX, 2011 31
Ruschlikon Steering Group
• AonBenfield, Guy Carpenter & Willis, Swiss Re, SCOR,
Munich Re, Axis, XL Re and Catlin Bermuda
• Message volumes continue to rise; 2010 = 150,000, 2011 =
215,000, projected 2012 = 360,000.
• Steering Group liaises with other implementation
communities and coordinates work of the Business
Implementation Group (BIG)
• Pilots being considered for 2012 for placing
administration
• Visit www.ruschlikon-global.com
Month XX, 2011 32
London Non Bureau Group
• Participants - Chubb, Xl Insurance, XL Re, Chartis, RSA,
Ace, Willis, Aon and Marsh.
• Implementations in 2011 between Willis and Aon and XL
insurance and ACE
• Chartis have secured executive support and are finalising
their business case
• Focus is large commercial insurance – EBOT now, ECOT
later
•
http://www.londonmarketgroup.co.uk/index.php?option=com_content&view=category&id=102&It
emid=213
Month XX, 2011 33
US Advisory Group
• Participants - Aon, Guy Carpenter, Willis, Chartis, Munich
Re, Swiss Re, Partner Re, Travelers and XL Re
• Implementations in place this year between Willis and
Aon and XL insurance and ACE
• Chartis have secured executive support and are
finalising their business case
• Focus is on large commercial insurance – EBOT only to
start with (ECOT later)
• See
http://www.acord.org/usrecom/Pages/default.aspx
Month XX, 2011 34
Ruschlikon in Bermuda Steering Group
• Participants - Chubb, Xl Insurance, XL Re, Chartis, RSA,
Ace, Willis, Aon and Marsh.
• Implementations in place this year between Willis and
Aon and XL insurance and ACE
• Chartis have secured executive support and are finalising
their business case
• Focus is on large commercial insurance – EBOT only to
start with (ECOT later)
Month XX, 2011 35
Further developments in 2012
• Franco-German event
planned for Q2
• Targeting Brokers, insurers,
cedents, captive brokers
• Could lead to groups in
each market being formed
Month XX, 2011 36
Month XX, 2011 37
FIND OUT MORE ABOUT THIS
AT THE FEBRUARY 23RD
ACORD CLUB.
Contact [email protected]
Month XX, 2011 38
Month XX, 2011 39