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With Market Reform Office Market Reform Forum July 2009 Christopher Croft, MRO Roy Laker, ACORD Geoff Kennard, Xchanging.

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Presentation on theme: "With Market Reform Office Market Reform Forum July 2009 Christopher Croft, MRO Roy Laker, ACORD Geoff Kennard, Xchanging."— Presentation transcript:

1 With Market Reform Office Market Reform Forum July 2009 Christopher Croft, MRO Roy Laker, ACORD Geoff Kennard, Xchanging

2 Market Reform 2009 Market Reform Office Agenda Market reform update ACORD in action IMR progress

3 Market Reform 2009 Market Reform Office FWWS Reminder: MRG targets for finishing what we have started: –Full usage of eAccounting by end 2010 –Full usage of ECF for all claims by end 2010 –ePolicies used for 90% of signings by end 2009 Work to be done: –Build and implement an eAccounting capability at XIS and broker firms –XIS to develop and deliver a non- fundamental splits service –Expand the scope of ECF to cover all claims –Improve usability of ECF to drive full usage

4 Market Reform 2009 Market Reform Office FWWS next steps Development programme –IMR Security model to expand scope of IMR –XIS systems development to accept and process structured accounting messages –Non-fundamental splits service –ECF2 package of usability improvements –Binders solution for ECF On target for Nov 2009 On target for May 2010 Release from Q Prototype approved

5 Market Reform 2009 Market Reform Office eMRCE MRG target – 3,000 in July; achieved 2,958 in June Early indicators that July higher Endorsement volumes follow a seasonal pattern…

6 Market Reform 2009 Market Reform Office

7 Market Reform 2009 Market Reform Office

8 Market Reform 2009 Market Reform Office Lloyds Exchange Phase 1 ongoing and will finish at the end July; 20 organisations have successfully been set up on the Exchange. Organisations have been working at different paces. Those that have not completed testing continue into August. Organisations confirmed for phase 2 are published on the Lloyd's Exchange website - Phase 2 begins 1 st Aug. So far 19 organisations interested in participating Further IT suppliers Trade Fair will be hosted later this year Please contact if you are interested in more information, or visit the website

9 Market Reform 2009 Market Reform Office MRC – version 1.3? Version should be published for wider consultation by end of the month Implementation timescales will be similar to previous years

10 Market Reform 2009 Market Reform Office MRG Chair Peter Harmer standing down Discussions underway on succession More news to follow

11 Market Reform 2009 Market Reform Office Questions?


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