ECF – A GLOBAL SOLUTION? 25 October 2007 Gordon Street TPE2.19

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ECF – A GLOBAL SOLUTION? 25 October 2007 Gordon Street TPE2.19.

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Presentation transcript:

ECF – A GLOBAL SOLUTION? 25 October 2007 Gordon Street TPE2.19

? TOPICS Current volumes Status & developments to date Next steps Benefits Challenges Your role ?

CURRENT VOLUMES AT LLOYD’S First week October 2007 (All business categories) 45% of In-Scope 35% of all claims 44 Live Brokers (79% total claims volume) 49 Brokers to implement by end of 2007 (Potential total 98% total claims volume).

INSURERS PARTICIPATION TO DATE 39 out of 43 Managing Agents 12 IUA companies live or implementation 32 IUA companies demo or discussion Marsh Marine approx 80% of In-Scope

OBJECTIVE Global trading Desktop to Desktop delivery Changed method of delivery of claims information

FIRST PHASE Brokers (some) Lloyd’s Xchanging repository ACCORD Global standard

SECOND PHASE Lessons learned & developments needed Broker take-up IUA companies

FUTURE Remaining Brokers All IUA companies Other improvements/developments Insurers outside London Market Experts/service providers

BENEFITS Speed of delivery of information Easy access to file for all parties Structured data Audit trails Claims management opportunities Easier communication between everyone

CHALLENGES Cultural issues Use of face to face discussions Reduce paper Manage inboxes/set priorities Service levels & resourcing Time taken to process Training Followers questions : delays & problems?

THE OPPORTUNITY All marine claims practitioners Brokers Lloyd’s underwriters IUA companies Other insurers Experts

CONCLUSION 13GordonStreet

www.marsh.com 13GordonStreet