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Xchanging ePolicies Overview of Service Offering and Willis Service Usage Experience Presented by : Helen Dines (Willis) Jon Faulkner (Xchanging) Date:

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Presentation on theme: "Xchanging ePolicies Overview of Service Offering and Willis Service Usage Experience Presented by : Helen Dines (Willis) Jon Faulkner (Xchanging) Date:"— Presentation transcript:

1 Xchanging ePolicies Overview of Service Offering and Willis Service Usage Experience Presented by : Helen Dines (Willis) Jon Faulkner (Xchanging) Date: 25/10/07

2 2 Agenda Introduction Service Overview Registration / MAT / Roll Out process Willis Epolicies User Experience Questions & General Discussion Duration: ~ 30 minutes

3 3 Service Overview 1 – Headlines ePolicies is live and in use by Brokers as of end of July 2007 Service being used by Willis and Millers Approximately 900 epolicies issued to date Process from service registration to roll out can be achieved in approximately 2 weeks Immediate gains in terms of time to confirmation of coverage and reduction of paper in the process

4 4 Service Overview 2 – Objectives / Benefits Speed up despatch of policy documentation by Xchanging - saving up to at least 2 days over paper process Create central archive of documentation within the IMR - simultaneously accessible by market and broker, as required A protected PDF electronic policy document - enabling faster distribution of evidence of cover through the intermediary chain Maintain compliance with branding requirements Significant step towards end to end electronic policy handling in the London market Continued production of hard-copy policies as requested, on an exceptions basis

5 5 Service Overview 3 - Process

6 6 Service Overview 4 –Scope Applied to e-submissions only – A&S Direct Load or DRI, not paper or email Could have started life as a paper stage 1 Company stage 2 Lloyds Policy Signing Service (PSS) Lloyds Policy Production Service (PPS) Policy wordings and related endorsements Slip Policies

7 7 Service Overview 5 – Exclusions & Exceptions EXCLUSIONS - Illinois policies Continue to be provided on paper and be countersigned by the Lloyd's Illinois office as they are today. ePolicy process is currently being agreed with Lloyd's Illinois and we expect to provide electronic Illinois policies in the near future EXCEPTIONS Paper policies – default return to A&S submissions will be an epolicy but paper may be requested Endorsements on paper policy will be returned as paper endorsements, only eEndorsements will be returned on issued ePolicies Reproduction of policies which have been originally produced and signed on paper, unless the original paper copy has been destroyed or lost and the appropriate letter of indemnity is submitted

8 8 Service Overview 6 – The Email Notification

9 9 Service Overview 7 – The Signed ePolicy

10 10 Service Registration – Process Overview

11 11 MAT & Roll Out - Overview In response to Service Registration: Broker Overview document issued Broker contacted to arrange Market Acceptance Testing to ensure process is understood and work satisfactorily Approximately one week of MAT covering possible submissions scenarios and corrections process Ensure all in place for live operation MAT sign off and agreement to proceed Note: Process may be complete within 2 weeks, or take longer if desired by the Broker

12 12 Electronic Policies – The Willis Experience The Willis Policy Strategy Process Workability Benefits Challenges Questions & Discussion Electronic Policies – The Willis Experience

13 13 The Willis Policy Strategy Willis believes that any client who wants a policy as his contract document is entitled to one within 30 days. The Willis Policy Strategy

14 14 Process Client Willis tech Prepare & submit policy Willis tech Scan, mail & file policy Sales function Willis central post point (London) The Barrier XIS Chatham/ Folkestone Willis technician Willis central post point (London) The Barrier Paper Process XIS tech Check policy XIS Allocate policy XIS logistics Sign & return policy Process

15 15 Process Client Willis tech Prepare & submit policy XIS tech Check policy Willis support Mail & file policy Sales function E-Pols Process IMR Email notification XIS logistics Sign & store e-policy file Process

16 16 Workability Scope All Direct Loaded policies and endorsements including legacy S&A Submissions Requires co-ordination Prem Tech is responsible for submission Facilitates divorcing the premium & policy functions Security Use of PDFs at submission and return for greater protection Not fraud-proof but neither are paper policies IMR holds the master version of the policy Workability

17 17 Workability Email notifications Central mailbox Corrections Incorrect policies are hidden on the IMR so only the correct version is available Printing Can be slow! Support function responsible for all elements of policy mailing Look & Feel No wax seal, no coloured jackets but no push back!

18 18 Benefits Speed Direct Load & e-pols have saved 10-15 days on the end-to-end policy signing time; much more where there are queries Urgents can genuinely be handled urgently Lost policies are quicker & easier to identify & rescue Efficiency Centralised mailing function Electronic data storage – facilitates ECF and future e-trading initiatives Quality Willis controls our document print quality Benefits

19 19 Challenges E-mailing policies direct to clients Printing times Size of issue depends on operational scale Teething issues Mis-sent policies/lost or forgotten policies Policy correction process Endorsements Challenges

20 20 Questions and Discussion

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