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A&S Repository update 31st MAY 2007 NIGEL ROBERTS
© LloydsECF and A&S Repository Update 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. Published a strategic design for the adoption of international standards
© LloydsECF and A&S Repository Update 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%
© LloydsECF and A&S Repository Update A&S: next steps Focus on ramp up of usage: Broker implementation support in place, able to support rollout to all brokers in Work with market firms to embed as business as usual Enhance capabilities to encompass all business types Targeted for Q to include more complicated business types e.g. proportional treaty Target areas for process improvement and feedback to market firms Support market firms pilots to deal directly with brokers Continue to improve measurement capabilities to monitor performance and quality
ECF Repository update 31st MAY 2007 NIGEL ROBERTS
© LloydsECF and A&S Repository Update ECF: overview Live since September 2006 Phase 6 a Live on schedule – 8 th May, no reported problems. Phase 6b due live in mid August 07 IUA companies due live from 1 st July All Managing Agents signed up to the Repository Rules, 23 Managing Agents and 10 brokers actively using the ECF system 22% of all in scope claims are being submitted to the lead via ECF (as at 25 th May) Broker rollout support now in place starting next phase of broker implementation in mid June.
© LloydsECF and A&S Repository Update ECF: next steps Enhance ECF scope Phase 6b : Due live August 07, bringing auto risk routing, all binders except co-lead. Phase 7: Currently being scoped IUA Live date : 1 st July 2007 Embed electronic claims handling as business as usual With FPD review managing agents and brokers plans and processes Include electronic processes as part of FPD standards and monitoring Target all in scope new claims by the end of 2007 FPD to improve measurement capabilities so that we can track throughput and service turnaround more accurately
© LloydsECF and A&S Repository Update ECF : In Summary ECF is live and a reality for the London Market ECF is delivering up to a 40% reduction in settlement time Between 20-25% of daily in scope claims are being transacted via ECF Ramp up is increasing and broker rollout support is now in place for brokers wishing to implement in Dont get left behind!
Accounting and settlement repository 30 MAY 2007 ADAM STAFFORD – PROJECT MANAGER.
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.
Update on Contract Certainty John Harvie Contract Certainty Sponsors and PMs 23 August 2006.
Market Reform Forum Andy Brookes, MRPO Thursday 28 June 2007.
Electronic Claim File and A&S Repository Briefing Market Forum 24 th August 2006.
Market Reform Solution Providers Forum, 17 th March 2006.
Market forum 22 February 2007 Steven Haasz – Director, Market Infrastructure & Programme Management.
Market Reform overview Andy Brookes, Market Reform Programme Office 31 May 2007.
Market Reform Forum John Harvie, MRPO Martin Roberts, LMA 25 April 2007.
Accounting & Settlement The Way Forward. Accounting & Settlement Page 1 Restatement of A&S objectives Background Work streams commissioned by.
Trevor Maddison Electronic claims Trading claims electronically Date 29 th March 2007.
Market Reform Forum Andy Brookes, MRPO Stuart Dean, Willis Thursday 27 September 2007.
Market Reform Office Market Reform Forum Christopher Croft, MRO Roger Oldham, HSBC Thursday 29 th November 2007.
Accounting & Settlement The Way Forward. Accounting & Settlement Page 1 Restatement of A&S objectives Work streams commissioned by MRG –Repository –Strategy.
Market Reform Forum Christopher Croft, MRPO Thursday 23rd August 2007.
Market Reform Forum Andy Brookes, MRPO Steven Haasz, Lloyds Mike Smith, Hugh Maltby, Brit 22 February 2007.
Update on Market Reform Andy Brookes, Ben Sayles, Paul Tuvey Market Reform Forum 29 June 2006.
Update on Market Reform John Harvie, Andy Brookes Market Reform Forum 28 September 2006.
Market Reform “from the top” Andy Brookes, Market Reform Programme Office 4 July 2007.
Market Reform Office Market Reform Forum Andy Brookes, MRO Jon Faulkner, Xchanging Helen Dines, Willis Thursday 25 October 2007.
Market Reform from the top Andy Brookes, Market Reform Programme Office 29 March 2007.
Market Reform from the top Andy Brookes, Market Reform Programme Office 30 May 2007.
Market Reform Forum Christopher Croft, MRPO Thursday 26 th July 2007.
Electronic Claims Its coming There will be pain to get the gain Who is your business sponsor? If you handle claims, the way you do your job will change.
Market Reform Forum Andy Brookes, MRPO Roy Laker, ACORD 29 March 2007.
With Market Reform Office Market Reform Forum Christopher Croft, MRO Nigel Roberts, Chair, e-Accounting Steering Group Geoff Kennard, Xchanging.
With Market Reform Forum MRG Objectives 2008 Accounting and Settlement Progress and Plans Andy Brookes, MRO Mark Barwick, LMBC 31 st January 2008 Market.
Market Reform Forum Andy Brookes, MRPO 31 May 2007.
Insurers Market Repository – where are we? Pat Talbot IUA.
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