Endorsement Initiative Update Agenda Electronic Support for Endorsements November 2011.

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Presentation transcript:

Endorsement Initiative Update Agenda Electronic Support for Endorsements November 2011

Endorsement Initiative Update Agenda Use in marine continued after close of pilot Additional classes live from 1 July o Property – Aon / Catlin o Professional Indemnity – Marsh / Beazley o Specie – Willis / Ace Bilateral implementations in further classes All classes live 5 March 2012 Timeline

Endorsement Initiative Update Agenda Key issues Alignment of process with underwriter–broker negotiation Response times Volume

Endorsement Initiative Update Agenda Alignment of process with negotiation Transmission of data and documents Scratch PROCESSPROCESS Complex negotiation Negotiation Transmission of data and documents

Endorsement Initiative Update Agenda Key issues Alignment of process with underwriter–broker negotiation Response times Volume

Endorsement Initiative Update Agenda Response times

Endorsement Initiative Update Agenda Response times

Endorsement Initiative Update Agenda Key issues Alignment of process with underwriter–broker negotiation Response times Volumes

Endorsement Initiative Update Agenda Volumes – Exchange Data

Endorsement Initiative Update Agenda Volumes – carrier data October 2011 – incomplete data as at 23 November Some estimates included in non-messaging volumes Non-messaging volumes include endorsements from non-participating brokers Messaging #Messaging %Total Marine1, ,418 Property ,796 Professional Indemnity ,552 Specie ,477 All others ,120 Totals2, ,363 Messaging Other

Endorsement Initiative Update Agenda Volumes – developing engagement

Endorsement Initiative Update Agenda What next Carriers continue preparations and ensure readiness for 5 March across all classes minimise response times Brokers – get involved and maximise volumes Look out for increased communications Get involved in project surgeries

Endorsement Initiative Update Agenda All classes live: 5 March 2012

Endorsement Initiative Update Agenda Questions?

LMA Rob Gillies Telephone: Peter Holdstock Telephone: LMG Secretariat contact Steve Hulm Telephone: IUA Contact John Hobbs Telephone: Lloyd’s Contacts James Bobbitt (Technical) Telephone: Paul Willoughby (Project Management) Telephone: Trevor Maddison (Relationships) Telephone: LIIBA Contact Chris Buer Telephone: Contacts