Control Framework

Breakfast Groupagenda

9:00 Arrival, Breakfast & networking

9:20 Welcome & Phase I Update

9:30 Direct reporting project update – Sharmi Bakrania & kevin Blake

9:45 Meet the phase II CF team Phase II planning activities at Lloyd’s – Jaana Rouvari Audit scope – Lindsey Davies Broker engagement – John Hibbert Next steps - Jaana Rouvari

10:15 Q & A

10:30 Close

Direct reportingCurrent STATUS

March, 2013

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Direct Reporting

What is it ?A process that enables Managing Agents to report regulatory & tax information directly to Lloyd’s for non-subscription Service Company businessData is at a transactional level as opposed to reporting information being derived from the bureau accounting processBreaks the link between accounting and reporting

What benefits could it provide managing agents?Reduces direct costs of transactional processing through a service providerMeets the desire for choice in operating modelReleases time and resource currently producing LPANs

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Historic position - Prototype pilot closed

Lloyd’s developed a pilot reporting engine for service company tax & regulatory information

Outputs internal data files for market reporting and claims monitoring purposes

Limited territories - Canada, Australia, EEA and US 3 managing agents – Catlin via XML, Chaucer & XL via CSV file formats Time was right to update the technology, increase the scope & the users

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Current position

• Replacement of the prototype - scalable for volume increase• Pragmatic and practical solution - CMR collection combined with

bespoke core system with a target delivery date of later in 2013 • Increased scope to world-wide• Some Managing agents have been visited and given an overview of

the project along with draft data requirements.

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Industrial strength, future-proofed solution

Key elements to the project

100% business to Lloyd’s – non-subscription Service Company business

Include all Territories ACORD standard XML message Flexible submissions timeframes Offer reporting service to all managing agents via

Core Market Return route

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Core MARKET RETURN

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Lloyd’s Direct Reporting

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KEY considerations

The Control Framework will need to be signed-off (applies to business reported directly or through Xchanging) prior to submission

Possible need to amend current systems to add new data fields Consider/confirm market maturity in the use of ACORD XML messaging Support required for your business case Implementation/cut-over strategy

Next Steps…

Lloyd’s to confirm the detailed data requirements Lloyd’s to assist Managing Agents’ benefits cases Lloyd’s to hold individual meeting with each participant Lloyd’s to assist Managing Agents’ define an implementation plan for

Direct Reporting if applicable

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IMPLEMENTATION PLAN

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Questions…?

Control Framework

Control framework Phase II

Project team introductions

Phase II planning activities at Lloyd’s

Audit scope

Broker engagement

Next steps

Control Framework

Phase II

Control Framework

54 Managing Agents

Coverholders

Lloyd’s

Managing Agent

Auditor

Communications

Broker/ Coverholder

Phase II

Control Framework

Phase II planning

Managing Agent tool kit

Consulting Brokers

Educating Auditors

Control Framework

Tools for the job

Control Framework

Audit Scope

Control Framework

Broker engagement

Driven through Managing Agents

How can managing agents work together to deliver a message to the broker community?

How can Lloyd’s help Managing Agents with their communications with Brokers?

The exercise!

10 minutes for brainstorming within your tables.

Share ideas with the group.

Control Framework

Next steps

Creating a road map

Managing Agent working group – volunteers

Quarterly road map with check points – April CF Breakfast Group

Project tool kit end of Q2

Face to face meetings Q2/Q3 – Contacts for Phase II

Control Framework

Q & A session