Transcript Presentation Title Here: Simple Design

eCommerce – Making it Happen !
Ursuline Foley, CIO XLRe
June 19th 2008
Agenda
© 2007 X.L. America, Inc.
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What has XLRe Implemented ?
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Where is XLRe eCommerce Capable ?
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What is XLRe’s production volume ?
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How did XLRe start Implementing ?
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Implementation Phases
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Business Feedback
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Questions
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What Has XL Re Implemented ?
ACORD RLC
• Facultative Placing
• Technical Account
• Settlement
• Claim Movement
LIRMA
• Signing
• Settlement
• Claims
, Claims
Trading Partners
• 1 Ceding Company
• 4 Brokers
• Xchanging
© 2007 X.L. America, Inc.
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Where is XLRe eCommerce Capable ?
© 2007 X.L. America, Inc.
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What is XLRe’s Production Volume ?
© 2007 X.L. America, Inc.
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How did XLRe start Implementing?
Our Journey !........
How did we start ?
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Obtain Executive buy-in (awareness to opportunities & industry involvement)
Find those 1 -2 business sponsors that “Believe”
Business engaged in ACORD meetings, meetings with Trading Partners
I.T. took lead in setting up infrastructure to test “Rip & Tear” mode
Partnered with 1 forgiving Trading Partner to work with your schedule
Designed eCommerce Architecture
In Parallel prepare internal systems for integration (internal systems must be
ready !)
Where did we start ?
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© 2007 X.L. America, Inc.
Forgiving Trading partner – for us it was a Broker !
Accounting – viewed as the foundation message, easiest to start with
Provided opportunities for savings for both Trading Partners
Set us up for the Cash Settlement message (most savings potential ) !
Claims process considered more complex and our internal systems were not
ready for integration at that time !
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Implementation Steps
“Rip & Tear” Phase
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Joint Trading Partner meetings with business and I.T. to share knowledge
Setup XLRe eCommerce communication infrastructure
Worked with eCommerce vendor to map ACORD RLC messages to Translator
XLRe set about creating eCommerce database with print capabilities (Style sheets)
XLRe I.T. reviewed printed test messages & compared to actual business
Repeated process, communicating with Trading Partner until quality message is
received
XLRe I.T. engaged business in print message review
“Integration” Phase
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Reviewed internal business process to determine integration “comfort level”
Business required flexibility; Trading partner profile, contract level, full /partial integration
Electronic workflow needed to queue messages for business user processing
Mapped test messages to XLRe’s internal system
Determine I.T. integration architecture strategy, also impact to existing system
Determine error handling, balancing, auditing
Build & Test  Implement Cautiously (preloading data entry screens prior to posting)
Once business confidence develops  Turn on automated posting
Once confidence develops, increase automation
© 2007 X.L. America, Inc.
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Implementation – Europe
…..Driven by CEO Sponsorship !
Goal; To leverage Xchanging capabilities for European business
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Established technical capabilities to process Xchanging message
Partnered with a vendor to convert Xchanging message to ACORD
Trained users on business process flow based on utilizing message
Selected a sample of contracts to test for accounting and settlement
Worked closely with Xchanging for testing
Business compared message content to manual statements
Went to production 2007
Currently business testing the Xchanging Claim message for use with
European business
© 2007 X.L. America, Inc.
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XL Re business Feedback - Finance
Business Benefits Achieved, Per Paul Burke Controller XLRe America
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Accuracy in processing and cash settlement
Elimination of paper files
Reduction in cash suspense due to automatic cash settlement
processing
Headcount realignment from processing accounts to more detailed
analysis and special projects
Significant reduction in managers account approval review
© 2007 X.L. America, Inc.
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XL Re business Feedback - Claims
Attributed Success to;
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Commitment of broker partners to reduce the monstrous paper volume and labor intensive
reinsurance claim reporting & billing
Our global eClaims system with workflow, enabled messages to pre-populate and “tee-up”
claims reserving and payments for review and approval
Benefits;
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Claim Professionals freed up to focus on Exposure Monitoring
XLRe Estimated Reduction of 77,000 sheets of paper received & filed annually
5-10 parties per contract, market savings could be 385,000 to 750,000 annually
Includes savings in mail room admin, filing, physical storage, routing & access
Electronic documents, liberates the claim process by providing flexible access globally &
provides choices in obtaining processing efficiencies (Offshore/Outsourcing)
“XLRA see EDI as an essential way of supporting our broker partners while
permitting us to reap tremendous savings in efficiency, accuracy and job
satisfaction for our people at every level” Dave Hughes, SVP XLRA Claims
© 2007 X.L. America, Inc.
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XLRe – Embracing eCommerce Operationally
Questions ?
© 2007 X.L. America, Inc.
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eCommerce – Making it Happen !
Ursuline Foley, CIO XLRe
June 19th 2008