With Market Reform Office Market Reform Forum April 2009 Christopher Croft, MRO Roger Oldham, HSBC John Muir, Willis.

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Presentation transcript:

With Market Reform Office Market Reform Forum April 2009 Christopher Croft, MRO Roger Oldham, HSBC John Muir, Willis

Market Reform 2009 Market Reform Office Agenda Market reform update London market - setting the pace Endorsements update

Market Reform 2009 Market Reform Office FWWS MRG agreed the following assumptions for the finish what we have started work –That the current systems will be in place for at least the next four years. –That any work to these systems that delivers benefit within that timescale can be considered as part of the finish what we have started work. –That the aim of the finish what we have started work is to get to as near as practicable 100% usage, of ECF in particular. –That if further funding is required to deliver this work, it will be sought.

Market Reform 2009 Market Reform Office FWWS next steps Approvals –IMR Security model –Design study for co-lead binders Forward approval agenda –April: ECF2 (claims workflow triggers/service; document viewer; claims database) –May: eAccounting and outcome of co-lead binders study

Market Reform 2009 Market Reform Office eMRCE MRG target – 3,000 in April Bi-lateral arrangements – protocol and sample on marketreform.co.uk John Muir to provide more detail on this approach

Market Reform 2009 Market Reform Office MRC – version 1.3? Cross market group progressing Tax guidance central If there is a new version, timescales will be similar to previous years

Market Reform 2009 Market Reform Office E-Policies

Market Reform 2009 Market Reform Office Lloyds Exchange Technical connectivity testing with pilot participants to begin on 1st May with business testing from 1st June. So far 35 Managing Agents; 6 company market insurers; and 14 brokers have expressed interest in participating in the first three phases of the pilot A number of suppliers/service providers have completed some preliminary technical testing these include Perspective Technologies, Ri3K, Room, The Insurance Workplace (TIW), Trace, Trisystems, Web Connectivity. Initial use of the Lloyd's Exchange to cover placing; endorsements and signed lines.

Market Reform 2009 Market Reform Office Questions?