With LMG Secretariat LMG Forum June 2011 Christopher Croft, LMG Secretariat Mark Chapman, eAccounts...

With

LMG Secretariat

LMG ForumJune 2011

Christopher Croft, LMG Secretariat Mark Chapman, eAccounts Management GroupLee Elliston, Catlin

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Agenda

• Modernisation update

• eAccounts release 2

• Using ECF2

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© Xchanging 2010, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.

ECF2 Current Status 23 June 2011

Claims Workflow Triggers (CWT)

• 17 carriers receiving live messages• 5 fully integrated into own workflow• Other carriers to join by arrangement with Xchanging

Claims Agreement Services (CAS)

& Single Sign On (SSO)

• CAS & SSO are live• 5 carriers plus XCS using in production• Rollout in progress with Liberty & Hiscox going live w/c

27 June 2011.

Document File Viewer (DFV)

• DFV is live• Documents are being processed online• Rollout in line with CAS & SSO schedule

Claims Workflow Services (CWS)• Service Deployed to production• Backload process being tested • Rollout from late July onwards

• MAT for ECF001, ECF004 & ECF005 starting 6th June• Baselined plan in place and being delivered• New infrastructure been installed.• Go Live Phase 1 Sept 1st

Claims Data Warehouse (CDW)

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Endorsements

• On target for 1st July

– Property

– PI

– Specie

• Open now for all classes

• For more info see newsletter

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New MRC version

• New version anticipated – version 1.4

• Release later in the summer for implementation by 1st January

• Guidance changes only – no changes to headings anticipated

• Principal changes

– Dodd/Frank Act and changes to surplus lines regulation

– Guidance to reflect usage of Lloyd’s pilot claims scheme

– Some other minor changes to guidance to align different MRC standards (open market, binder etc) and for clarification

Version 1.4

2011

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Non bureau progress

• Pilot implementing

• Developing model to discuss with other firms

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Future process

• Next steps

• Future process narrative

– Addressing issues raised in the consultation process

– Highlighting differences between current and future process

– Fleshing out the proposals in more detail, via process narrative documents.

• And then:

– Infrastructure, service provision and systems implications of the future process

– Cost benefit analysis and client service impact assessment

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Questions?

Associations’ Administration Committee

‘Finish What We’ve Started’ eAccounts Release 2

Implementation Options

LMG Forum – 29 June 2011

eAccounts

Current Status

January Release 1B puts Miller & ACORD messaging live

June Miller – 270 contracts (10% of their business by premium) Price Forbes and UIB in production Aon/Aon Benfield start testing Review of R2 scope completed – 6 CRs identified

July Guy Carpenter move to production

September Aon/Aon Benfield go-live

Discussions on-going re: next broker convoys10

eAccounts

eAccounts R2

Deferred Scheme Autoload DRI Slice Non-Fundamental Splits

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eAccounts

Options Considered

EAMG reviewed 6 options for moving forward:

1. Withdraw the eAccounts Service

2. Cease further development. Rollout R1B as-is.

3a. Extend R1B functionality (Deferred Scheme, Autoload and DRI Slice) but no support for Non-Fundamental Splits

3b. As 3a with a manual Splits Service based on the Marsh solution (no ACORD data messages).

4. Full R2 scope plus 6 CRs

5. As 3a with a manual Splits Service accepting ACORD data messages

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eAccounts

eAccounts Options – Process Efficiency

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eAccounts - Options

XIS

P

roce

ssX

IS

Sys

tem

sB

roke

r /

Car

rier

XIS

Sys

tem

sX

IS

Pro

cess

XIS

S

yste

ms

Bro

ker Create & submit

Splits(Non-fundamental)

Validate submission & create LPANS

Auto load LPAN data into

mainframe (20%) or manually input

Process LPANs (additional input

required if not auto loaded)

Complete systems processing

Notify OSND via signing messages (non-fundamental)

Create & submit Splits

(Non-fundamental)

Validate submissions

LPAN data available via APIX to be auto loaded

(100%)

Process LPANs


Create & submit Splits:

Non-fundamental

Create & submitFundamental (A&S) - indicate N/F splits

required

Validate submission

Process LPANs



WP generated indicating splits

required

Splits created & loaded onto IMR

under ‘New Package’


Workflow allocates WP to relevant business team

Process revised WP

Aggregated OSND processing

WP generated

Review & process WP (creating splits

(within APIX)


Notify OSND via signing messages

(fundamental & non-fundamental)


(Fundamental or Non-fundamental)


(Fundamental or Non-fundamental)

Intercept potential splits

WP generated (A&S)

Triage WP to decide if splits are

required


Creation of splits (if necessary) & process LPANs

Option 5Option 4 – R2Option 3bOption 3aOption 2 – R1B

Additional checks required ensuring

manual input = received TA data

WPs generated WPs generated






(100%)


(100%)

Additional checks required ensuring

manual input = received TA data


Validate submission

2. Keep R1B

3a. Extend R1B, no Splits

Service

3b. Manual Splits - Marsh Solution4. R2 plus

CRs5. Manual Splits with

ACCORD

eAccounts

Benefits of continuing with Release 2 Transmission of ACORD structured data instead of

electronically scanned Premium Advice Notes (PANs) An accounting interface (eBOT) that is in line with

international markets (e.g. Europe) Easier electronic access to the London Market for Brokers

in remote locations Eliminates Londonisms (i.e. removes need for non-

fundamental splits from Brokers) Autoload capability improves XIS’s efficiency and

reduces their error rate Delays in current process cost insurers circa £3.5m pa in

lost investment income (based on 2% interest rate) [source JMD]

Brings Deferred scheme into eAccounts scope

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eAccounts

Recommendation

Choose Option 4 (Full Release 2 scope plus 6 CRs) Allows market to finish what we started Carriers (Lloyd’s and some companies) need Splits

service Manual options too expensive

Deliver Release 2 in two releases to minimise delivery risk and ensure project focus Deferreds, Autoload and DRI Slice Non-fundamental Splits Delivery dates to be confirmed by XIS

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ECF2

Lee Elliston

29th June 2011

Catlin Group Limited

‘’Change is the law of life. And those who look only to the past or present are certain to miss the future’’

John F. Kennedy


ECF2 – What’s New?

Claims Workflow Triggers (CWT)

Claims Workflow Services (CWS)

Claims Agreement Screens (CAS)

Document File Viewer (DFV)

Single Sign On (SSO)


What is CWT?

The first linked ECF2 functionality – went ‘live’ in October 2010

Replaces previous daily data (CSV files)

More detailed claims ‘awaiting action’ data feeding workflow systems

Transaction-by-transaction data held in Lloyd’s, ILU and LIRMA versions of CLASS

Output received for all bureaus (Lloyds, ILU and LIRMA)

6 MA’s and/or Companies are fully live; 8 intending to ‘go-live’ in the near future


Why is ECF2 important to the market?

‘’As from the cradle to the grave, it is but a succession of changes so gentle and easy that we can scarcely mark their progress’’

Charles Dickens

Enhances Service to Brokers & Clients:

• Live triggers of actions undertaken by brokers and carriers

• Improving turnaround time and settlement of claims

• Improved functionality to navigate, review and respond

Offers an embedded workflow application (CWS):

• Benefiting carriers with or without their own workflow system

Enhances data & enables transparency:

• Enhanced data within trigger files leading to useful and insightful MI

• Allows greater transparency across bureaus and throughout the Market


Implementing CWT – 5 Steps for Preparation

1. The individual carrier should decide:• How does your current internal workflow receive and accept claims data from Xchanging?• Frequency of data / triggers

2. Review naming of received CWT files, format and data fields to align with internal systems and workflow

3. Update internal system/s or workflow to pick up relevant fields within the CWT file

4. Consider a testing / parallel run phase of the new CWT and current CSV

5. Plan for the first CWT load (‘CWT Backload’)• Taking into consideration ‘in flight’ transactions, ensuring duplicate data is not entered


Further Information

London Market Group’s website: Please visit www.londonmarketgroup.co.uk to access ECF2 user guides, functional spec’s and the SP&P


Questions

With LMG Secretariat LMG Forum June 2011 Christopher Croft, LMG Secretariat Mark Chapman, eAccounts...

Documents

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