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Market Reform Forum July 2009

Market Reform Forum July 2009. Christopher Croft, MRO Roy Laker, ACORD Geoff Kennard, Xchanging. Agenda. Market reform update ACORD in action IMR progress. FWWS. Reminder: MRG targets for finishing what we have started: Full usage of eAccounting by end 2010

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Market Reform Forum July 2009

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  1. Market Reform ForumJuly 2009 Christopher Croft, MRORoy Laker, ACORDGeoff Kennard, Xchanging

  2. Agenda • Market reform update • ACORD in action • IMR progress

  3. FWWS • Reminder: MRG targets for finishing what we have started: • Full usage of eAccounting by end 2010 • Full usage of ECF for all claims by end 2010 • ePolicies used for 90% of signings by end 2009 • Work to be done: • Build and implement an eAccounting capability at XIS and broker firms • XIS to develop and deliver a non-fundamental splits service • Expand the scope of ECF to cover all claims • Improve usability of ECF to drive full usage

  4. FWWS next steps • Development programme • IMR Security model to expand scope of IMR • XIS systems development to accept and process structured accounting messages • Non-fundamental splits service • “ECF2” package of usability improvements • Binders solution for ECF On target for Nov 2009 subject to negotiation On target for Nov 2009 On target for May 2010 Release from Q1 2010 Prototype approved

  5. eMRCE • MRG target – 3,000 in July; achieved 2,958 in June • Early indicators that July higher • Endorsement volumes follow a seasonal pattern…

  6. Lloyd’s Exchange • Phase 1 ongoing and will finish at the end July; 20 organisations have successfully been set up on the Exchange. • Organisations have been working at different paces. Those that have not completed testing continue into August. • Organisations confirmed for phase 2 are published on the Lloyd's Exchange website - http://www.lloyds.com/lloyds-exchange. • Phase 2 begins 1st Aug. So far 19 organisations interested in participating • Further IT suppliers Trade Fair will be hosted later this year • Please contact Lloyds.exchange@lloyds.com if you are interested in more information, or visit the website

  7. MRC – version 1.3? • Version should be published for wider consultation by end of the month • Implementation timescales will be similar to previous years

  8. MRG Chair • Peter Harmer standing down • Discussions underway on succession • More news to follow

  9. Questions?

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