CSRP: Post-bind Submission (PbS) On-line Submission Portal High Level Design July 2015

2 AGENDA High Level Design – Online Submission Portal Objectives and Goals Mechanisms for Brokers to submit EBOT to Market Submission High Level Requirements

Objectives and Goals 3  An online submission portal will allow market participants to submit formatted (e.g. EBOT/ECOT/Binder) messages directly without having to invest in system-to-system integration and be a replacement for Direct Load, albeit that both will remain in place until Direct Load is turned off.  The portal will allow users both to enter data required for the message, and to upload any supporting documentation, such as MRCs. It submits them in the same way as a system-to-system integration would do.  The portal will be capable of integrating with existing Central Services that could then allow search extract capability.  The portal service will have the capability to process responses to submissions and track them outside of Central Services. It will also keep track of the original message, making it easy to amend and resubmit the message in case of errors.  Whilst the portal requires manual entry (including splits) of information needed to create message content, it substantially reduces overheads compared with generating multiple LPANs because the basic information only needs to be entered once.  The portal minimises the risk of error and duplicate data capture by associating the claim with an existing risk record. The user just needs to provide the claim specific information rather than having to re-submit all of the identification and risk information.  Smaller participants may use outsourced processing services or leverage a "software as a service" offering which provides ACORD EBOT/ ECOT capability.  There is no need to invest in system-to-system integration for brokers with a low level of Bureau submissions, where the savings on operational overheads are not a factor.

Outsourcer/ SAAS Carrier Broker Mechanisms for Brokers to submit EBOT/ECOT to PbS Brokers will be able to submit EBOT/ECOT messages to trigger technical, financial accounting and claim movements They can do so directly from their systems, through a service provider, or by direct entry into systems provided by the market This information pack is aimed at the solution required for the third of these mechanisms only The broker uses its own systems to submit EBOT/ECOT messages directly to the carrier (through TMEL) He owns and maintains all the respective infrastructure Carrier Broker The broker uses an outsourced service provider for its back- office processing, or accesses an IT solution as a technology utility (SAAS – Software As a Service) In these cases, it is likely that the service provider will create a mechanism of submitting EBOT/ECOT to the carrier through TMEL Market Provided Solution Carrier Broker For brokers who neither have systems which can submit EBOT/ECOT/Binders directly, nor use an outsourcer/ technology provider who can do so on their behalf, a solution to do so could be provided centrally

High Level Design - Online Submission Portal Brokers who do not have systems set up to submit EBOT/ECOT/Binder messages to Post-bind Submission require an alternative mechanism to submit their business An online submission portal allows the entry of information for an EBOT/ECOT/Binder message into a web screen, and sending it to the respective carrier Instead of "fire and forget", the portal retains a local copy and it also tracks responses from processing and makes them available to the broker 1.The broker accesses a web portal provided centrally which allows entry of the information required for the EBOT/ECOT/Binder message, and uploading relevant supporting information, including the MRC. 2.The portal uses the reference data management of the market to ensure high data quality. It also applies validations to the information (potentially by means of calling a validation service). Both minimise exceptions in downstream processing. 3.The portal submits EBOT/ECOT/Binder messages with attached documentation to the carriers, who forward them to the relevant processing service such as Accounting and Settlement or Claims Processing (similar to the broker submitting the EBOT/ECOT/Binder message directly). 4.The EBOT/ECOT/Binder and supporting documents are then processed by PbS in exactly the same way as if the broker had submitted an EBOT/ECOT/Binder message through its own systems. 5.Messages generated in the course of processing are tracked and available in the portal. 1 4 In case of rejections, it is easy to amend and re-submit the message. EBOT/ECOT/Binder acknowledgements are made visible to the broker in the portal. Mirrors ACORD protocol by handling feedback messages. The solution allows submitting information through a simple mechanism, while ensuring integrity. Validation and reference data reduce processing exceptions downstream. As the solution is relatively light, it is easier to adjust for changes in the ACORD protocol. No difference in PbS back-end processing. Solution for front end can be provided by programme or any 3rd party. Benefits Unlikely to find off the shelf solution in the marketplace. Higher implementation effort than a simpler ‘fire and forget’ solution that would not allow submission tracking and query handling. Brokers may not need this enhanced service as carriers may respond outside of this portal solution. Challenges This diagram illustrates the key features of the Post-bind Submission model EBOT/ECOT Submission Channel Established New ‘Post-bind Submission’ Services EBOT/ECOT Acknowledgement Broker EBOT/ECOT (Carrier addressed) + Supporting Docs Lead Structured Data Capture Service Splits Service Technical Account Reporting Split EBOT and Supporting Docs Queries Interface Post-bind Submission Messaging Interface ECOT and Supporting Docs Structured Data to Subscribers Carrier Data Capture ►Manual ►DCS ►PPL / ICR / OCR Bound MRC Structured Data & MRC Lead Online EBOT/ ECOT EBOT (A&S) ECOT (Claims) Gateway Or… TMEL EXCHANGE

High Level Requirements 6 Volume estimates and performance expectations Should be the same as the current MMT – TMEL metrics, although Binder submission has the potential to increase volume Estimated at 560K submissions annually and anticipated to grow Aimed at the broker community that submits less that 20% of the transaction volumes, although recognising it may be used by larger firms as a DR solution or whilst transiting from A&S to EBOT/ECOT/Binder Security Users must be registered and signed up with Central Services Users must be signed up with TMEL Solution must adhere at least to TMEL encryption standards Messaging and Documents Must support EBOT/ECOT/Binder transactions and upgrade to EBOT/ECOT/Binder query handling in the future Initially ‘Out of Band’ query handling Document submission via DRI to IMR Specific requirements can be found in the ACORD standards and the CSRP PbS user guide on the LMG web site

High Level Requirements 7 Validation and Error Handling Gateway should support validation via TMEL and Central Services through Level 1 – 4 ACORD standards Workflow Basic functionality to track submission to service and any related queries and/or acknowledge message sent (Status management) Provide a resubmit process via Cancel and Replace of a prior submission. (Must allow retrieval of a prior submission) Submission workflow audit and MI