We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byJenna Cobb
Modified over 3 years ago
Accounting and settlement repository 30 MAY 2007 ADAM STAFFORD – PROJECT MANAGER
© LloydsPresentation name 00 July 20052 A&S Repository : overview The process by which premium and claim payment amounts are accounted and settled between brokers and underwriters The goal of the work stream is to allow all A&S documentation and data to be submitted and exchanged electronically We have achieved: Delivery of electronic infrastructure to support the efficient processing of Lloyds premium (LIVE SINCE SEPTEMBER 2006) Currently servicing between 15 and 20% of XIS daily volumes as at end of May. Developed a measurement regime Published a strategic design for the adoption of international standards
© LloydsPresentation name 00 July 20053 Repository Functionality Broker loads slip, LPANs and supporting documentation to repository thereby removing paper (and vans) Three methods: -Direct Load -Email -DRI Message Carriers can gain access and view and download documents DRI enabled repository that also enables direct loading and enquiries to: deliver documents to Xchanging Ins-Sure Services for checking deliver documents directly between brokers and carriers i.e. in support of non-bureau or P2P processes
© LloydsPresentation name 00 July 20054 Repository Benefits and Implications Faster turnaround times for documentation since van time is eliminated. No van time and speedier query resolution means signed lines available quicker Speedier resolution of queries will reduce the volume of rejections DRI functionality consistent with ECF. Brokers have options on how to connect, DRI Push, DRI Pull or Direct load (or additionally email for delivery to Xchanging for checking) Gives insurers access to a copy of the slip and other premium submission documentation in the repository Carriers can be notified as a slip is loaded on the repository thereby allowing signed lines to be communicated sooner, thus allowing speedier exposure management Utility function of the repository, without XIS processing, allows broker to distribute documents in a controlled manner to specified parties
© LloydsPresentation name 00 July 20055 Out of Scope Proportional Treaty processing Simultaneous settlement items and Reinstatements Also several issues associated with Access Control of documents: Certain scenarios are subject to complications around broker control of the document. Workstream is underway to progress workarounds and develop a long terms solution (being planned for early 2008 delivery).
© LloydsPresentation name 00 July 20056 Take Up Accounting & Settlement 42 brokers and Service companies live and in a position submit closings electronically 3 Entities due in week beginning 29/5/07 Volumes of submissions being received electronically : 17%
© LloydsPresentation name 00 July 20057
Accounting and settlement repository 22 NOVEMBER 2007 CHRIS MEARS – A&S IMPLEMENTATION MANAGER.
Accounting and settlement repository 23 rd January 2008 CHRIS MEARS - Business Analyst Market Operations & North America.
A&S Repository update 31st MAY 2007 NIGEL ROBERTS.
Insurers’ Market Repository (IMR)
Accounting & Settlement The Way Forward. Accounting & Settlement Page 1 Restatement of A&S objectives Work streams commissioned by MRG –Repository –Strategy.
Restatement of A&S objectives Background
Market Reform Forum 27 October 2005 Andy Brookes Steve Hulm Market Reform Programme Office.
© Xchanging 2008, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging. Accounting & Settlement.
1 The Aon approach to reform May 2007 Nigel Roberts.
Reform Update Market Forum, 22 February 2006 James Willison.
Xchanging ePolicies Overview of Service Offering and Willis Service Usage Experience Presented by : Helen Dines (Willis) Jon Faulkner (Xchanging) Date:
LONDON MARKET REFORM DELINKING.
Richard Lester Change Management A&S Project Manager The A&S Experience 18 th January 2007.
Electronic Claim File and A&S Repository Briefing Market Forum 24 th August 2006.
Trevor Maddison Electronic claims Trading claims electronically Date 29 th March 2007.
With Market Reform Office Market Reform Forum Christopher Croft, MRO Nigel Roberts, Chair, e-Accounting Steering Group Geoff Kennard, Xchanging.
Market Reform Solution Providers Forum, 17 th March 2006.
London Market Review Morning Data Conference Friday 5 th September Mark Barwick, Project Manager, LMBC.
Update on Contract Certainty John Harvie Contract Certainty Sponsors and PMs 23 August 2006.
Market Forum 26 April 2006 Andy Brookes. Market Reform Build user-friendly front-end for contract certainty checks (Q1) Avoid regulatory intervention.
© 2017 SlidePlayer.com Inc. All rights reserved.