0. Insurers Market Repository – where are we? Pat Talbot IUA

1. Insurers’ Market Repository (IMR)
Electronic Premium Accounting (EPA) - submission of slips, PANs, policy wordings and supporting information by the broker to Xchanging for processing
Three methods available for submission – /Direct Load/DRI
All documents stored in IMR whichever submission method used
IMR will include a ‘structured’ (i.e. bureau) and an ‘unstructured’ (i.e. non-bureau) area
UMRs - unique and maintained even if broker of record changes mid term
Electronic notification of presentation date and SN&D to Brokers

2. Insurers’ Market Repository
Benefits to carriers:
No ‘van time’ - speeds up premium processing
Faster query resolution speeds up premium processing
Signed lines available quicker to all parties
Access to all broker documentation in the IMR
Utility function (non bureau), allows document exchange between Organisations for P2P processing.
Faster Xchanging query resolution reduces XIS costs and therefore (hopefully) XIS charges
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3. Insurers’ Market Repository
Benefits to Brokers:
Reduced paper handling costs
Faster processing times – no ‘van time’
Faster query resolution
Reduction in rejection rates
Enhanced audit trial & reconciliation
DRI functionality consistent with ECF
Utility function (non bureau), allows document exchange between Organisations for P2P processing.

4. Insurers’ Market Repository - Implementation status
Phase 1 - Live
Docs can be submitted by
Docs can be submitted by Direct Load
Docs can be submitted by DRI
Current Implementations
- 2 brokers
Direct Load – 8 brokers
DRI – 4 brokers (live December ’06 & January ‘07)
Around 20,000 PANs (15% volume) have been submitted as at
Anticipate increase in activity (to 25% volume) during January 2007
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5. Insurers Market Repository – Implementation status
Planned implementations during 1st Qtr brokers including, DM Clayton, JLT, AJ Gallagher/Gallagher Re, Besso, Bell and Clements, Rattner McKenzie and others
Planned volumes by mid year 50+% (volume)
Planned volumes by year end 98% (volume)
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6. Repository Implementation status
Phase 2 – Planned MAT – June ‘07
Reinstatement Premiums/simultaneous settlements (single UMRs)
User defined ACL’s (Access Control Lists)
Notification Lists
Store all Metadata
Phase 3 – Planned MAT – Sept ‘07
Unstructured Repository (Non bureau document exchange)
Ability to ‘store’ LPANs and other docs as simple non-ACORD data
Proportional Treaty Statements (ie multiple UMRs), currently under review to be included in Phase 2
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