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

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

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

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  1. Electronic Claim File BriefingFor Business Sponsors and Project Managers2nd June 2006

  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 Page 2

  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 Page 3

  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 Page 4

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

  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. Page 6

  7. Systems Processes & Procedures • Big Issue Resolved • Binders Change Request Raised • Bulks/Blocks Change Request Raised • Document Rules Rules under review • Delegation to XCS Change Request Raised • M.A. Workflow Change Request Raised • Partial Markets Change Request Raised • Non Broker Triggers Change Request Raised Page 7

  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 15th May 2006 for three months • On track Page 8

  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 Page 9

  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 Page 10

  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 Page 11

  12. 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 Amlin Brit Faraday Hiscox Limit Marlborough St Paul Travelers SVB Wellington MRPO seeking others through early implementers, testers and others Public Commitment to 100% Target Page 12

  13. Key Dates Page 13

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

  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.uk Page 15

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