Transcript Opening up the market of choice

LMG Secretariat
LMG Forum
April 2011
Christopher Croft, LMG Secretariat
John Hobbs, IUA
Chris Buer, LIIBA
Steve Hulm, LMG Secretariat
With
LMG Forum 2011
Agenda
• Modernisation update
• Endorsements – pilot results and the next steps
• The future of future process
ECF2 Current Status
Claims Workflow Triggers (CWT)
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16 carriers receiving live messages
1 fully integrated into own workflow
Others carriers to join by arrangement with Xchanging
Claims Agreement Screen
(CAS)
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CAS & SSO are now live
2 carriers, plus XCS, using in production
Rollout in full swing
Document File Viewer (DFV)
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Bulk upload of existing documents is complete
Weekly extracts are now being done to keep up to date
MAT has completed
To be deployed into production beginning of May
Rollout from late May onwards
Claims Workflow Services (CWS)
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Pre MAT testing has completed
Deployment to production in June
Rollout from July onwards
Claims Data Warehouse (CDW)
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ECF005 and ECF001 remain the focus
Baselined plan in place and being delivered against
Distribution mechanism confirmed
Single Sign On (SSO)
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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)
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Miller continue their controlled submissions of live business
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Upgraded testing and training environment being established for full rollout – due April
/ May
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UIB, Guy Carpenter & Price Forbes continue with their implementation process with a
target live date of 3rd May
eAccounts Release 2 (R2)
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Detailed review of functional specifications produced early 2010 has completed
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Options for progressing are being reviewed
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© Xchanging 2010, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
The Message Exchange Limited (TMEL)
LMG Forum 2011
• Cross market ownership of key
infrastructure
• Directors:
– Shirine Khoury-Haq (IUA)
– Simon Gaffney (LIIBA)
– Kirk Maddern (LMA)
– Peter Spires (Lloyd’s)
• Contract signed on 23rd March
• Comes into effect on 18th May
• New terms and conditions with
you today
Non bureau progress
LMG Forum 2011
• Pilot work continues
• Firms involved:
– Xl Re
– XL Insurance
– Chartis
– Chubb
– RSA
– Aon
– Willis
• More welcome
LMG Forum 2011
Questions?
Electronic Support for Endorsements
Post Marine Pilot Update
April 2011
John Hobbs
Director of Market Services
International Underwriting Association
Key Activities Post Pilot
• Understanding / Learning from Pilot Experience
– Final (3rd) survey of participants
– Analysis / segmentation of issues (BDPA)
– Ernst & Young benefit review
• Review / Consultation with Marine Community
– IUA & LMA Marine committees
– Prioritisation of required improvements
– Joint PSSG / Marine practitioners meeting
– Agreement of final report
Key Activities Post Pilot (cont’d)
• Review of Provisional (Oct. 2010) Roll Out Plan
– Which classes next (Property, PI, Specie)?
– Timetable (delivery of improvements)?
– Support (workshops, etc.)
• Marine Transition to “Business as Usual”
– 10,000+ ACORD messages
– Additional IUA carriers (Groupama, Axa, Allianz)
– 600+ endorsement requests p.w. (Jan – April 2011)
Key Pilot Outcomes
• Process works (best for “silent” endorsements)
• Process Improvements required (changes in hand)
• Scope issues (mixed paper / electronic markets)
• Benefit evidence limited by technology and volumes
• Greater senior sponsorship / change effort required
Electronic Support for Endorsements
Plans for the next phase
April 2011
Chris Buer
LIIBA
Broker views
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Improvements in end-to-end process time from initial client request to
confirmation of cover
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Improved accuracy due to re-use of data/documents without re-keying
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Reduction in the movement of paper
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Improved auditability and compliance
Further Endorsement Rollout
April 2011
• Marine to continue as “business as usual”
• All other classes open on a bi-lateral agreement basis
July 2011
• Three additional classes will be formally sponsored
• Three major brokers and three major carriers involved
• Other firms will be encouraged to participate
October 2011
• Implementation of 11 key improvements identified
February 2012
• Solutions for conditional acceptances, subjectivities and multi-section risks to be
implemented
March 2012
• All insurers will be asked to be ready to receive electronic endorsements for all
classes of business from March 2012.
Broker Technology Event
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Event takes place on 13th May 2011 (14:00-17:00) at the Old Library
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Demonstrations of broker messaging systems
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A wide range of software suppliers attending:
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Tri-Systems
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Trace
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TIW
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Ri3K
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Websure
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Sterling Commerce
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Total Objects
Email [email protected] to register your attendance
LMG Secretariat
Future Processing Model
Update
Steve Hulm, LMG Secretariat
With
LMG Forum 2011
Questions?