lmg forum november 2011 n.
Skip this Video
Download Presentation
LMG Forum November 2011

Loading in 2 Seconds...

play fullscreen
1 / 26

LMG Forum November 2011 - PowerPoint PPT Presentation

  • Uploaded on

LMG Forum November 2011. Christopher Croft, LMG Secretariat John Muir, Willis. Agenda. Modernisation update Main display. ECF2 Current Status 21 Oct 2011. 21 carriers receiving live messages 7 fully integrated into own workflow Other carriers to join by arrangement with Xchanging.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

PowerPoint Slideshow about 'LMG Forum November 2011' - cardea

Download Now An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
lmg forum november 2011

LMG ForumNovember 2011

Christopher Croft, LMG Secretariat John Muir, Willis

  • Modernisation update
  • Main display
ecf2 current status 21 oct 2011
ECF2 Current Status 21 Oct 2011
  • 21 carriers receiving live messages
  • 7 fully integrated into own workflow
  • Other carriers to join by arrangement with Xchanging

Claims Workflow Triggers (CWT)

  • CAS & SSO are live
  • 44 carriers plus XCS rolled out in production
  • Rollout continues on target to complete by the end of the year with 84% of organisations signed up.

Claims Agreement Services (CAS)

& Single Sign On (SSO)

Document File Viewer (DFV)

  • DFV is live and converting 5000 – 7000 documents a day
  • Some intermittent teething problems are being resolved with Adobe
  • Rollout in line with CAS & SSO schedule

Claims Workflow Services (CWS)

  • Service deployed to 32 organisations
  • Rollout in line with plans to complete by the end of the year

Claims Data Warehouse (CDW)

  • ECF001, ECF002, ECF003, ECF004, ECF005 and LADD are in use with 21 organisations
  • Phase 2 implementation began on 17th October.

eAccounts Current Production use

Miller, Price Forbes, UIB, Guy Carpenter, Aon UK & Lockton continue with live operation and have been joined by Towers Watson.

Aon Benfield and Ropner preparing for go live.

The brokers joining convoy three are NMB and Houlder. The start date is end of October.

eAccounts Release 2 (R2)

Xchanging continue working together with the Market to deliver R2 using the ‘big bang’ approach to delivery.

Analysis has completed for Corrections, Deferreds and R1B to R2 migration

The remainder of change requests continue and are anticipated to conclude in Q4

non bureau accounting
Non Bureau accounting
  • Live partnerships involving:
    • Aon
    • Willis
    • XL
    • ACE
  • Ongoing discussions with wider steering group
  • Room for others
  • See your newsletter…
placing standards
Placing standards
  • New open market, binders & lineslips versions published
  • New MRCE imminent
future process model
Future Process model
  • Revised requirements document published
  • Steering Group to act as guardian of the vision and advise LMG on implementation
  • Implementation plans to take account of other project work
2012 workplan
2012 workplan
  • In development
  • Headed for LMG on 8th December
2012 forums
2012 Forums
  • 2012 dates:
    • 18th January
    • 29th February
    • 29th March
    • 18th April
    • 23rd May
    • 28th June
    • 27th September
    • 31st October
    • 28th November
    • 18th December
  • July & Aug TBA
speeches rallies etc
Speeches, rallies etc
  • Xchanging Conference 9th- November
  • Barnabas Hurst-Bannister IIL Lecture 22nd November
from honeycombs to infinity and beyond

From Honeycombs to Infinity and Beyond….!

Electronic Endorsements

LMG Forum

4th November, 2011

the london market progression4
The London Market - Progression
  • MRC via messaging…………..?
willis emrce via messaging
Willis: eMRCE via Messaging
      • Marine Pilot effective 01/10/10
      • Marine BAU effective 01/04/11
      • Specie (Fine Art, Jewellers Block, Specie, Cash in Transit, Armoured Vehicles) effective 01/07/11
      • Bloodstock, Livestock, Agriculture and Aquaculture effective 01/08/11
      • Global Property effective 01/09/11
      • PI effective 19/09/11
      • North American Property effective 03/10/11
      • Global Terrorism effective 03/10/11
      • North American Terrorism effective 03/10/11
      • D&O Planned for 01/12/11
      • Liability Planned for 05/12/11
      • Facultative Reinsurance Property and Liability TBC 2011
      • Aerospace 16/01/12
  • We will be messaging across all classes by no later than 5th March 2012
specie implementation
Specie Implementation
  • High-profile roll-out and implementation within the London Market
  • Enthusiastic team with strong leadership
  • Good support from the central Project Team
  • Quickly embedded within the Business Process
  • High volumes being sent
  • Frustrations at deteriorating response times
bi lateral implementations
Bi-lateral Implementations
  • Bloodstock
    • Small Market
    • Used to corresponding and agreeing endorsements electronically (via email)
    • Quickly embedded in the Business Process
    • Volumes increasing
  • Terrorism
    • Larger market
    • Not full market take-up – makes the process disjointed for Brokers
    • Greater support from underwriters and central Project Team required to make bi-laterals in larger classes a success
    • Internal transition from email challenges
what s going well
What’s going well
  • There are no showstoppers other than the usual culture and behaviour issues
  • Account Handlers are seeing efficiency benefits where underwriters respond within the SLA
  • In adopting Divisions, the use of electronic endorsements has been embedded in the business process
  • Total adoption seems to work better than partial
  • The number of insurers engaging in the initiative is increasing
  • Endorsements can and are being submitted from back office locations
  • A credible audit trail is captured automatically – we now know the status of endorsements
what could go better
What could go better
  • Brokers need to deliver volume and stop engineering excuses as to why they are unable to do so
  • Underwriters need consistently to meet the 24hr SLA
  • Underwriters need actively to encourage electronic submission of contract changes so that they can deliver and capture electronic agreement
what are we even doing here
What are we even doing here?
  • In the time it takes to finish this 10 minute presentation you could have trained your line underwriters!
  • By the time the Q&A is over we could have trained our brokers
  • It’s time that we just got on with this!
benefit cases
Benefit cases
  • Progress of an endorsement can be tracked by colleagues in multiple locations
  • Ease of identification of underwriter that agreed the endorsement
  • Clear and documented audit trail
  • Greater clarity for claims departments
  • No discrepancies between broker and underwriter records
  • Removes requirement for re-keying data
  • Follow underwriters could now very easily capture all endorsements to contracts
what could underwriters do to help
What could underwriters do to help?
  • Heed the lessons from ECF adoption
  • Push your line underwriters to start behaving as though this is what your management insists that they do
  • Thank brokers who submit endorsements electronically
  • Explain to brokers who submit paper endorsements that they need to start submitting them electronically
it s not just about me
It’s not just about me
  • The Electronic Endorsement initiative is not just about me
  • Change / Transformation is not a spectator sport!
  • Standing still is the commercial equivalent of going backwards
  • The London Market needs to succeed
  • Do we not have a collective duty to help with it’s progress?
  • The only way to do so is for many more of us to stop spectating from the sidelines and get out there and actively participate