EB2B Marketing Slides July 2006

Web Connectivity © 2006 Slide 2 Contents Historic Context New Landscape Opportunities & challenges How Web Connectivity can help you deliver Our products and services

Web Connectivity © 2006 Slide 3 London insurance market – “yesterday’s technology tomorrow” Business process broadly unchanged in 318 years Despite multiple initiatives still mostly paper-based Frictional costs and delays much higher than other financial services sectors Resultant high cost base, low service levels Approach to e-trading fragmented & proprietary Companies wary of adopting non-generic approaches – do not wish to implement separate solutions for channel partners, market hubs, repositories etc. Historic Context

Web Connectivity © 2006 Slide 4 A number of factors are (finally) producing real appetite for change in the market. Market initiatives – such as ECF, Contract Certainty, A&S G6 Demise of Kinnect Regulatory – SOX, FSA, Spitzer Losses (e.g. Katrina) and migrating capital (e.g. Bermuda) EnabledB2B, Web Connectivity’s G6-aligned gateway New Landscape

Web Connectivity © 2006 Slide 5 Electronic Claims File (ECF) programme to provide a platform for automated exchange of Claims file information between Brokers, Underwriters and Insurers’ Market Repository. Contract Certainty programme to meet FSA targets by the end of 2006, which include pre-inception agreement of all terms between insurers and insured, full wording agreed before any insurer commits, evidence of cover issued within 30 days of inception Accounting & Settlement (A&S) programme to improve processing efficiency in the London market by implementing electronic communication using international message standards Impact market focus over recent years on infrastructure to support these initiatives has rapidly increased awareness and appetite for messaging solutions New Landscape – Market initiatives

Web Connectivity © 2006 Slide 6 A coalition of underwriters* making up 33% of the market aims to define & disseminate a pragmatic placement process supported by electronic exchange of business data and supporting documents Staged approach to adoption G6 recognises technology constraints may cause differing speeds of adoption & implementation of the final process. 3 ACORD messages are included for first phase, with subsequent extensions Conformance to ACORD standards Compliant with AMS v1.4, RLS , DRI v1.2, ACORD basic security Impact G6 has become a significant catalyst in the market, with participation from top 5 brokers. Many companies regard this initiative as a template for piloting B2B * G6 = Amlin, Beazley, Catlin, Hiscox, Kiln, Wellington New Landscape – G6

Web Connectivity © 2006 Slide 7 Some lessons from Kinnect ( or LIMNET/EPS/Win/Wise/Blue Mountain - delete as applicable )  Not simple to get an entire market to agree every detail  Centralized solutions need to support the lowest common IT denominator  Companies will not invest in separate proprietary solutions to interact with hubs, repositories or directly  Participants need a clear CBA before investing in IT or process change  “It’s not about the money” - some market players have built successful trading hubs for 1-2% of Kinnect’s £70m spend. Impact Many players who had previously held back for fear of seeming anti-Kinnect are now actively pursuing a peer-to-peer approach Many agencies and brokers now installing commercial SOAP gateway products New Lloyd’s CEO – new thinking? New Landscape – Demise of Kinnect

Web Connectivity © 2006 Slide 8 Web Connectivity’s G6-aligned gateway offerings Our products EnabledB2B, EnabledR2R and G6 Easy Placement are designed to support key market requirements for all structured and unstructured data in a single messaging solution No need for internal gurus The emerging consensus around formats, processes & workflows allows the gateway to hide technical & standards details from users Commercially driven Our product suite can adapt rapidly to individual customer requirements, rather than deliver to a centrally constructed vision. Impact No longer need in-house expertise in ACORD & SOAP to begin P2P messaging Functionality to reflect priorities of market rather than those of the hubs New Landscape – EnabledB2B

Web Connectivity © 2006 Slide 9 Opportunities & Challenges The technology, standards and processes are in place to allow companies to address these new challenges now – simply, cheaply and securely Many insurance companies are currently looking to :  Receive/send business data electronically to channel partners  Exchange supporting documents with partners and repositories  Import received data/documents directly into risk & DM systems  Support a transparent reconciliation process  Notification – alerts, confirm process completion, errors  Use structured for responses  Validate in/out messages against schema/schematron  Collaborate with multiple partners who may be using different versions of standards and code-sets

Web Connectivity © 2006 Slide 10 Opportunities & Challenges There is now a clear cost-benefit case for these solutions You want to… Receive and send business data electronically to channel partners Exchange supporting documents with partners and repositories Import received data & documents directly into risk & DM systems Transparent reconciliation process Notification – alerts, confirm process completion, errors Use structured for responses Validate in/out messages against schema/schematron Support multiple versions In order to … Reduce costs and elapsed time, eliminate re-keying Eliminate paper trail, achieve single version of the truth Straight-through processing, significant time reductions Regulatory compliance Allows consolidated support of automated and manual processes Baby steps for G6 implementation No manual remediation needed for subsequent message rejections Collaborate with disparate partners

Web Connectivity © 2006 Slide 11 Your requirements… Receive and send business data electronically to channel partners Exchange supporting documents with partners and repositories Import received data & documents directly into risk & DM systems Transparency reconciliation process Flexible notification – for alerts, errors or confirmation of process completion Use structured for responses Validate in/out messages against schema/schematron Support multiple versions Our solutions… We have implemented gateway solutions at brokers and carriers We have implemented DRI solutions for insurers, brokers and integrators OOTB connectors to many DM apps, integration build or consultancy Full queriable audit of every transaction All are supported as standard, configurable via admin tool Support for G6 and bespoke formats OOTB support for current versions; multiple concurrent versions supported Support for multiple concurrent versions of standards and code sets How we can help you deliver Many London insurers and brokers have implemented solutions based around our EnabledB2B, EnabledR2R and G6EasyPlacement offerings

Web Connectivity © 2006 Slide 12 Solving current market issues Our products are solutions designed around key LMP initiatives. Out of the box they are SOAP & ACORD-aware, G6-aligned and pre-configured with relevant standards. Open and reusable EnabledB2B does not tie you to any specific set of standards, collaborators or process Time to market Rapid, simple deployment will have you up and running in days rather than months. Proven in diverse processes and environments EnabledB2B has implemented solutions relating to ECF, RLC Placing and DRI for major brokers and insurers in the UK and Europe. Award-winning and accredited EnabledB2B has won 15 ACORD awards Why Web Connectivity?

Web Connectivity © 2006 Slide 13 EnabledB2B … is an award-winning gateway solution for companies which wish to exchange messages using SOAP and ACORD DRI & RLC standards. EnabledB2B has been installed by a third of G6 members and by 3 of the top 5 brokers. EnabledR2R … supports document exchange using ACORD DRI messaging. EnabledR2R has been installed by one of the G6 carriers and has been certified for IMR interoperability. G6 Easy Placement … (available Q306) a stand-alone online solution for brokers who wish to send data and accompanying documents to underwriters in G6 format, without the need for integration to in-house systems. Web Connectivity Products

Web Connectivity © 2006 Slide 14 Our team of experienced insurance professionals provide professional services and consulting around ACORD data standards and web services Professional services Integration to internal risk systems Integration to internal document management systems Data analysis/mapping from legacy to ACORD formats Test harness for proving your gateway Help define validation and audit requirements Consultancy Advice, analysis & training around ACORD standards Assist design of messaging gateway/application design Preparation for ACORD certification Process change Web Connectivity Services