Transcript RPS Power Point Template

Lloyd's Technology Day:
"e-Distribution and Trading" – 2013
RPS’s
Strategic Vision and Business Alignment
U.S. Insurance Industry Trends
• More online transactions
– Comparative rating, PL, Programs
Industry Trends
-Carrier Maintained Data
-Rating Stds & Issuance
-Comparative Rating
-Online Rate/Quote/Bind/Issue
-Mobile work force
-Data Aggregation
• Carrier policy issuance
• Direct to Retail Broker
• Less MGA maintenance on
rates, policies & forms
• AMS as a repository
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Risk Placement Services - Vision
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Risk Placement Services - Snapshot of History
• Rapid acquisition growth in MGA segment - high volume, low
premium, binding authority
• Separate, independent processing systems
• Good for M&A but challenges in support, reporting & analysis,
automation, standardization, disaster recovery, regulatory
• Challenges keeping pace with industry
automation trends & web-based
initiatives of competitors and suppliers
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Risk Placement Services - Current Activity
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Consolidation of Systems
Document management and workflow
Centralization of admin and support functions
System integration and electronic interactions
Customer facing value
Sales & Marketing dashboard
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Risk Placement Services – Current Activity (London)
• Adoption of Lloyd’s Reporting Standards
• Invested in systems ‘Total Object’s Binder Cloud’
– Today – Data Imported into Binder Cloud
– Currently Testing XML/Web Services
– Next steps:
• Convert to ACORD XML
• Implementation of Real-Time data exchange
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Risk Placement Services – Challenges
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Communication between London & US
Adoption of London Reporting
Rethinking how we process business
Implementing new technology
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RPS’s
Strategic Vision and Business Alignment