Market Reform Page 1 MRG Paper #6.1a Market Reform Group Dashboard 2008 targets and progress – table Targets are for the actual rate achieved in the relevant.

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Presentation transcript:

Market Reform Page 1 MRG Paper #6.1a Market Reform Group Dashboard 2008 targets and progress – table Targets are for the actual rate achieved in the relevant month in each instance. They are not cumulative across the year Data and target definitions are available on slides 3 and 4

Market Reform Page 2 Market Reform Group Dashboard graphs

Market Reform Page 3 MRG dashboard – data definitions (1) A&S data –Source: Xchanging –A&S AP/RP rate is the volume of electronic transactions (LPAN level) as a percentage of the total transactions (paper + electronic) processed. Excludes Aviation and Treaty business as they are currently out of scope for A&S. –OP only figure is the volume of electronic transactions (LPAN level) as a percentage of the total transactions (paper + electronic) processed. Includes original premiums and corrections to original premiums and S&A items. Excludes Aviation and Treaty business as they are currently out of scope for A&S. Combined Lloyd’s and Company volumes. –We continue to work with Xchanging to refine this data. ECF data –Source: Lloyd’s FPD & IUA/Xchanging –The Lloyd’s measure is based on discussions held with Market firms and external auditors. –The Company Market measure is the proportion of UCR movements in a month made electronically

Market Reform Page 4 MRG dashboard – data definitions (2) Legacy –Source: Lloyd’s MONA and IUA –Legacy index is the total volume of outstanding legacy policies as measured in a month as a proportion of the volume outstanding in mid 2006 (NB: IUA use volume measured in Jan 2007 as a proxy for the mid 2006 volume) –From November 2007 on Lloyd’s index does not include business written after 1 January Delinking –Source: JMD/Xchanging –Data is for original premium only. From October 2007, data includes flexible settlement. Inclusion of AP and RP data under consideration. –Delinked rate is the total number of delinked submissions to Xchanging in a month as a proportion of the total number of submissions in that month. This measure includes all transactions. LMBC currently exploring the scope of transactions where delinking is appropriate. Measure may need to be adjusted to reflect the outcome of these discussions. –Delinking performance follows a seasonal pattern. Data demonstrating this is available on the market reform website. Electronic policies –Source: Xchanging –Data reported is the total number of E-polices signed (both Lloyd's and Companies) as a percentage of the total polices signed (both Lloyd's and Companies) plus the volume of both measures.