1. Electronic Claims Electronic Claim File Briefing For Business Sponsors and Project Managers 2 nd June 2006

2. Market Reform Electronic Claims Page 2 Purpose First of many regular sessions Put ECF in the Market Reform context Update key personnel in firms Communicate progress Encourage debate to share issues and resolution

3. Market Reform Electronic Claims Page 3 Summary Software delivered to MAT on schedule Substantial testing and implementation task started Will change working practices from paper to electronic for many claims practitioners Named brokers and Lloyd’s managing agents committed to 100% of new Lloyd’s claims from Q4 2006 Early implementation partnerships growing IUA coming on board

4. Market Reform Electronic Claims Page 4 LMA ECF Objective To replicate today’s file electronically –Not a Blue Sky Claims System development Based on existing products –Changes to CLASS out of scope (except look and feel) –Seamless Link to repository –Work with underlying software capabilities Provide a base product on day 1 –To be evolved once experience gained Post implementation evolution of base product

5. Market Reform Electronic Claims Page 5 Managing Agents’ Access Integrated CLASS & repository References Paid & Outstanding Amounts Claim Status & Agreement Reports Correspondence Bordereau Placing Documents Broker Input Data Documents CLASS Repository Agreement Parties Can Review All Claim Details Perform Updates & Record Agreement in One Place (Without a Broker)? Insurer Access & Input Data Documents

6. Market Reform Electronic Claims Page 6 Systems Processes & Procedures Systems Processes and Procedures –Broker & Underwriter Collaborative Approach –High-level guide –NOT a claims adjusting manual Workshops held to review generic process –Confirmed generic process –Confirmed little variation by class of business –Issues Identified and documented.

7. Market Reform Electronic Claims Page 7 Systems Processes & Procedures –Big IssueResolved –BindersChange Request Raised –Bulks/BlocksChange Request Raised –Document RulesRules under review –Delegation to XCSChange Request Raised –M.A. WorkflowChange Request Raised –Partial MarketsChange Request Raised –Non Broker TriggersChange Request Raised

8. Market Reform Electronic Claims Page 8 LMA Enhancements in 5 Phases Phase 1 Completed February 05 Phase 2 Completed April 05 Phase 3 (partial ACORD DRI) Completed October 05 Phases 4/5 – the chunky software delivery –Merged into a single phase –Testing started 15 th May 2006 for three months –On track

9. Market Reform Electronic Claims Page 9 Issues for Market Getting Started –Internal technology –Connections –Partnerships Cultural Change –Electronic not paper –Work management Transition from paper to electronic –Multiple methods for some time

10. Market Reform Electronic Claims Page 10 Early Implementations Implementation by Broker-driven trading partnerships –by classes of business and risks –with participating underwriters and XCS –MRPO monitoring progress In parallel with the enhancements –early experience of electronic work –assess impact on internal broker and carrier procedures and processes Using today’s CLASS and repository

11. Market Reform Electronic Claims Page 11 Carriers Aegis Amlin Chaucer Faraday Hiscox Kiln Limit MAP St Paul MAP Markel Brit Catlin SVB Brokers Benfield Cooper Gay Guy Carpenter Marsh Miller Willis Glencairn Aon (waiting for full DRI) Early Implementers Class of Business Marine Hull Aviation Direct Reinsurance PI Non Marine Property Binding Authorities FinPro Marine Cargo Energy Ace AIG Advent Atrium Well’n Heritage Aspen Re XCS Beazley XL Cathedral Marketform Danish Re Marlborough

12. Market Reform Electronic Claims Page 12 Public Commitment to 100% Target Brokers Committed to deliver new claims to Lloyd’s electronically within 3 months of MAT completing Aon Benfield Marsh Guy Carpenter Active support from: Cooper Gay JLT Miller Willis Managing Agents Committed to deal electronically with new claims AmlinBrit FaradayHiscox LimitMarlborough St Paul Travelers SVBWellington MRPO seeking others through early implementers, testers and others

13. Market Reform Electronic Claims Page 13 Key Dates Monday 15 th May Started ECF Market Acceptance Testing (managing agents/interactive brokers) Monday 19 th June Start Market Acceptance Testing using ACORD DRI standards (managing agents/batch brokers) Friday 18 th August Completion of Market Acceptance Testing Monday 21 st August Friday 18 th August - three week sign-off period Week commencing 10 th September Live ECF trading

14. Market Reform Electronic Claims Page 14 Contacts Ben Sayles (Ben.sayles@lloyds.com)Ben.sayles@lloyds.com –020 7327 6685 Claire Bulman (Claire.bulman@lloyds.com)Claire.bulman@lloyds.com –020 7327 6513 Adam Stafford (Adam.stafford@lloyds.com)Adam.stafford@lloyds.com –020 7327 6634 claims@marketreform.co.uk

15. Market Reform Electronic Claims Page 15 Today’s Question What’s the most difficult issue you face in implementing and ramping up Electronic Claims in your firm? List the best tips for addressing this. Email to claims@marketreform.co.ukclaims@marketreform.co.uk