Electronic claim file

1. Electronic claim file 4 July 2007 ADAM STAFFORD – PROJECT MANAGER

2. Aim of the Electronic Claims File • Improve service to customers: broker, assured, coverholders, etc. • How? • Current, contemporaneous access to claims… • … allowing brokers to spend more time on complex claims • Ability to “broke” claims files outside of normal market hours • Reducing the claims lifecycle i.e. first advice to settlement. • Other benefits • Cost savings! ELECTRONIC CLAIM FILE UPDATE 0507

3. ECF – Key Messages • The ECF project has been live since November 2006 • Brokers and Managing Agents are able to trade fully electronically without the need to present a paper utilising CLASS at Lloyds and Market Repository in respect of all claims which are currently in scope. • The IUA are participating in pilots and the commitment is there with a live date of 1st July 2007. • Take up is currently in line with Market Reform Group targets but momentum must be maintained. • The reformed market place will benefit our clients with faster response times, electronic trading will work this time. ELECTRONIC CLAIM FILE UPDATE 0507

4. Key Benefits to Brokers • Electronic transfer of data and documents, broker desktop to underwriter desktop. • Claims workflow managed from the desktop electronically. • Removal of the paper claim file. • Simple claims – straight through processing, no broker involvement. • Claims advocacy – broking where it matters. • Delivery of a quality client and underwriter service. ELECTRONIC CLAIM FILE UPDATE 0507

5. Why An Electronic Claim File? • Storage Requirements • Collaborative Agreement • Lloyd’s Claims Scheme/ Claims Agreement for Followers • Concurrent/Contemporaneous Access • Transparent and Auditable Process • The Technology Exists • In everyday use by all London Market Practitioners • Standard Interface & Sign in • Data Integrity and Backup ELECTRONIC CLAIM FILE UPDATE 0507

6. OVERVIEW OF ECF ELECTRONIC CLAIM FILE UPDATE 0507

7. Status - Key Enhancements in 6 Phases • Phase 1 - See all documents in one view • Phase 2 - Leader control of file/improved searching • Phase 3 - ACORD DRI (receipt of documents) • Phases 4/5 – CLASS@Lloyd’s data through GUI, full DRI and seamless link with docs in repository • Phase 6a – decoupling - increases percentage of “in scope” claims COMPLETE • Phase 6b – delegation to XCS, risk routing • Phase 7 - Currently being scoped by User Groups. ELECTRONIC CLAIM FILE UPDATE 0507

8. Current Scope • Business Types not supported by current implementation of ECF: • Delegated Lead to XCS (other than 100% Delegation, which is in scope) • Certain Binding Authorities, Cover Collections and Other Bordereaux Claims • Political risks • Aviation verticals • Certain Multiple OSND claims • Third Party Access to ECF • Existing paper claims files ELECTRONIC CLAIM FILE UPDATE 0507

9. Systems Processes & Procedures • Systems Processes and Procedures • The ECF Process Guide • Broker & Underwriter Collaborative Approach • High-level guide • NOT a systems user manual or adjusting manual • Available on line at www.marketreform.co.uk ELECTRONIC CLAIM FILE UPDATE 0507

10. Claims: next steps • Enhance ECF capabilities to bring more claims into scope • 2007 release to support binding authorities and delegated claims and enable legacy claims to be tackled (DONE: 8/05/07) • Embed electronic claims handling as business as usual • With FPD review managing agents’ and brokers’ plans and processes • Include electronic processes as part of FPD standards and monitoring • Target all in scope new claims by the end of 2007 • FPD to improve measurement capabilities so that we can track throughput and service turnaround more accurately ELECTRONIC CLAIM FILE UPDATE 0507

11. Summary of Usage • Current usage • 29% of (in scope) first advices presented via ECF • Total volume of claims notified: 4,700 • Total volume of ECF transactions: 7,747 • 17 brokers and 33 Managing Agents already transacting electronically • Nigel Roberts seconded from Aon to assist ramp up activity • FPD also investigating “stalled” claims • System enhancements being progressed and current omissions, eg binders, will be supported by late Q2 2007 on current schedule ELECTRONIC CLAIM FILE UPDATE 0507

12. ECF TAKE UP SUMMARY Update Summary: • All active Managing Agents and 44 brokers have now signed the Repository Rules • 23 managing agents actively using the system • 17 brokers actively using the system • Monthly % of in scope claims using ECF (rolling 4 week figure): 21.5% • Cumulative % of in scope claims using ECF for 2007 (YTD): 14.8% ELECTRONIC CLAIM FILE UPDATE 0507

13. ELECTRONIC CLAIM FILE UPDATE 0507

14. Going Live with ECF - BROKERS • Class @ Lloyds access either online or ‘batch’ • The ability to load scanned claims documents to the Xchanging hosted market repository either via DRI auto load or interactive load • Both Class and the ability to put documents in the repository are prerequisites to ‘eclaims’ trading with underwriters • Sign the repository rules and the Xchanging market repository agreement – refer to LMBC circular 26/2007 • Establish ECF trading partnerships with your key leads Contact Simon Collins (simon.collins@lloyds.com 020 7327 6683) to get started ELECTRONIC CLAIM FILE UPDATE 0507

15. Going live with ecf – MANAGING AGENTS Requirements for Managing agents: Contact your Xchanging customer relationship manager You’ll need to : • Sign the repository rules, • Sign the class contract with Xchanging, • Ensure your system meets the minimum requirements, • Publish which classes of business for which you’re able to accept ECF. ELECTRONIC CLAIM FILE UPDATE 0507

16. SYSTEM DEMONSTRATIONAnd Questions ELECTRONIC CLAIM FILE UPDATE 0507