Transcript Opening up the market of choice

LMG Secretariat
LMG Forum
July 2011
Christopher Croft, LMG Secretariat
Steve Spicer, Miller
Bent Isachsen, Beazley
Rob Gillies, LMA
With
LMG Forum 2011
Agenda
• Modernisation update
• eEndorsements – a formula for change…?
– Steve
– Bent
– Debate
ECF2 Current Status 26 July 2011
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17 carriers receiving live messages
5 fully integrated into own workflow
Other carriers to join by arrangement with Xchanging
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CAS & SSO are live
7 carriers plus XCS using in production
Rollout in progress with Atrium and Taurus going live
during August.
Document File Viewer (DFV)
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DFV is live
Documents are being processed online
Rollout in line with CAS & SSO schedule
Claims Workflow Services (CWS)
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Service Deployed to production
Travelers, Faraday and Chaucer live this week
Full rollout begins in August
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MAT under way for ECF001, ECF002, ECF003, ECF004,
ECF005 and LADD
Baselined plan in place and being delivered
Rollout due to begin in September.
Claims Workflow Triggers
(CWT)
Claims Agreement Services (CAS)
& Single Sign On (SSO)
Claims Data Warehouse (CDW)
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© Xchanging 2010, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
eAccounts
eAccounts Release 1B (R1B)
Miller continue with live operation and have been joined by Price Forbes, UIB and Guy
Carpenter.
Aon are testing prior to implementation
Lockton, Ropner, Towers Watson & Cooper Gay have begun testing this week.
eAccounts Release 2 (R2)
Analysis of implementation options for the full R2 service has been completed
The Market team and Xchanging are working together to produce a viable plan to deliver.
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© Xchanging 2010, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
New MR C version
• New version coming – version
LMG Forum 2011
1.4
• Release later in the summer for
implementation by 1st January
• Guidance changes only – no
changes to headings anticipated
• Principal changes
– Nonadmitted and Reinsurance
Reform Act and changes to
surplus lines regulation
– Guidance to reflect usage of
Lloyd’s pilot claims scheme
– Some other minor changes to
guidance to align different MRC
standards (open market, binder
etc) and for clarification
LMG Forum 2011
Non bureau progress
• Pilot implementing
• Communications across the
market in the autumn –
including September Forum
Autumnal cheer
LMG Forum 2011
• Coverholder Technology
Forum 29th – 30th September
(www.lloyds.com/coverholde
rstechnologyforum)
• Insurance Technology
Congress 11th – 12th October
• Xchanging Conference 9thNovember
• Barnabas Hurst-Bannister IIL
Lecture 22nd November
LMG Forum 2011
Questions?
www.miller-insurance.com
eEndorsements – a Formula for Change?
Steve Spicer
July 2011
Miller Insurance Services Limited is authorised and regulated by the Financial Services Authority
www.miller-insurance.com
www.miller-insurance.com
“The one unchangeable
certainty is that nothing is
unchangeable or certain”
John F. Kennedy
Strategic Aims
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Improve client service
Increase efficiency
Reduce errors
etc.
www.miller-insurance.com
Tactical Reluctance
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We’re too busy
We don’t do it like that
We tried that once before
Suspicion of ‘real’ motives
etc.
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Transformation…
As Is…
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…To Be
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“Our wretched species is so
made that those who walk on
the well-trodden path always
throw stones at those who are
showing a new road”
Voltaire
A Magic Formula?…
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The Magic Formula?…
www.miller-insurance.com
Ch = V x P x D > R
Beckhard & Harris Change Equation
Beckhard & Harris Change Equation
• Change occurs when
• Vision – the ‘what’
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X
Practicality – the ‘how’
X
Dissatisfaction – the ‘why’
>
Resistance – the ‘why not’
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Applying the theory…
www.miller-insurance.com
• Vision
• Exploit modern technology to improve efficiency
whilst supporting Market strengths
needs
• Local context
• Active (vocal) support from business leaders
• Key users in the project team who want it to
happen
Applying the theory…
www.miller-insurance.com
• Practicality
• Lots of Market work on process
• Technology solutions are out there
BUT
• Technology by itself is not enough – needs
process and organisational change as well
• Integration of messaging into the workflow is
essential for achieving significant benefits
Applying the theory…
www.miller-insurance.com
• Dissatisfaction vs. Resistance
• Broker value is in negotiating, not in transporting
straightforward admin
• Regurgitating paper and re-keying into multiple
systems is highly inefficient and error prone
• How can client service be improved if we don’t
know how long it takes to agree an
endorsement?
So, is that sufficient?
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Variable resistance
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Ch = V x P x D > R
A new variable…
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Ch = V x P x D x 3P > R
The 3P’s…
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• Patience
because mistakes will be made by all
parties
• Pragmatism
because the process doesn’t work in all
situations
• Perseverance
because this change is achievable!
Relative success?
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Benefits
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• Reliance on brokers operating only in box hours
removed
• Agreement process now spread to 25 technicians
• Endorsements agreed, notified and advised to
client more quickly than paper process
• Technician’s job enhanced
• We know how many WIP endorsements we have
• We know who’s got them
• Better audit trail
• Reduced paper
Where next?
www.miller-insurance.com
• Marine nearly BAU
• Marine 70% of our total endorsements but only
25% of users
• Joining in on PI
• High % of non-complex in Marine – process
improvements will help other classes
• Looking for Big Bang for the rest…March 2012
www.miller-insurance.com
“To achieve great things, two
things are needed – a plan and
not quite enough time”
Leonard Bernstein
LMG Forum - 27th July 2011
Presented by Bent Isachsen
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Topics
• BPDA (Business Process Design Authority)
• Electronic Endorsements 1st July– Beazley’s experience
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BPDA – Business Process Design Authority
• Governance group started December 2010
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BPDA – Business Process Design Authority
• Tasked with solving any issues raised from the electronic market
endorsement initiative
• What we are not
o We do not decide the roadmap or when things should be implemented
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1st July - 3 new classes
• Beazley added about new 30 underwriters
• We provided light touch training sessions
• Expectations of volume
• As anticipated we had a slow start, but this is starting to pick up.
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