Endorsement Initiative Update Agenda Electronic Support for Endorsements November 2011.
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Endorsement Initiative Update Agenda Electronic Support for Endorsements November 2011
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Transcript of Endorsement Initiative Update Agenda Electronic Support for Endorsements November 2011.
Endorsement Initiative UpdateAgenda
Electronic Support for Endorsements
November 2011
Endorsement Initiative UpdateAgenda
• Use in marine continued after close of pilot
• Additional classes live from 1 July
o Property – Aon / Catlin
o Professional Indemnity – Marsh / Beazley
o Specie – Willis / Ace
• Bilateral implementations in further classes
• All classes live 5 March 2012
Timeline
Endorsement Initiative UpdateAgendaKey issues
•Alignment of process with underwriter–broker negotiation
•Response times
•Volume
Endorsement Initiative UpdateAgendaAlignment of process with negotiation
Transmission of data and documentsScratch
PROCESS
Complex negotiation
Negotiation
Transmission of data and documents
Endorsement Initiative UpdateAgendaKey issues
•Alignment of process with underwriter–broker negotiation
•Response times
•Volume
Endorsement Initiative UpdateAgendaResponse times
Endorsement Initiative UpdateAgendaResponse times
Endorsement Initiative UpdateAgendaKey issues
•Alignment of process with underwriter–broker negotiation
•Response times
•Volumes
Endorsement Initiative UpdateAgendaVolumes – Exchange Data
Endorsement Initiative UpdateAgendaVolumes – carrier dataOctober 2011 – incomplete data as at 23 NovemberSome estimates included in non-messaging volumesNon-messaging volumes include endorsements from non-participating brokers
Messaging # Messaging % Total
Marine 1,596 15.32 10,418
Property 213 4.44 4,796
Professional Indemnity
156 6.11 2,552
Specie 122 6.14 2,477
All others 95 0.45 21,120
Totals 2,212 5.35 41,363
Messaging Other
Endorsement Initiative UpdateAgendaVolumes – developing engagement
www.londonmarketgroup.co.uk
Endorsement Initiative UpdateAgendaWhat next
• Carriers
• continue preparations and ensure readiness for 5 March across all classes
• minimise response times
• Brokers – get involved and maximise volumes
• Look out for increased communications
• Get involved in project surgeries
Endorsement Initiative UpdateAgenda
All classes live: 5 March 2012
Endorsement Initiative UpdateAgenda
Questions?
LMA
• Rob GilliesTelephone: 020 7327 8377Email: [email protected]
• Peter HoldstockTelephone: 020 7327 8383Email: [email protected]
LMG Secretariat contact
• Steve HulmTelephone: 020 7327 5249Email: [email protected]
IUA Contact
• John HobbsTelephone: 020 7617 4445Email: [email protected]
Lloyd’s Contacts
• James Bobbitt (Technical) Telephone: 020 7327 5248Email: [email protected]
• Paul Willoughby (Project Management)Telephone: 020 7327 6634Email: [email protected]
• Trevor Maddison (Relationships)Telephone: 020 7327 5231Email: [email protected]
LIIBA Contact
• Chris BuerTelephone: 020 7280 0154Email: [email protected]
Contacts
