1. Lloyd’s European Coverholder Event
supporting technology
Adam Stafford, head of electronic distribution
3 November 2011
Presentation name 3 November 2011

2. Agenda Coverholder reporting standards The business problem
Why standards?
What are the standards?
How does this affect new and existing coverholders
Tools
The vision
Demonstration by Miller Insurance Services Limited
Presentation name 3 November 2011

3. Coverholder reporting Standards: The business problem
Coverholders have to provide information on risks, premiums and claims
Different syndicates asking for different info
Re-keying
Regulators asking for more detail
How can we make it easier for coverholders?
Presentation name 3 November 2011

4. Coverholder reporting Standards: why standards?
US Property Exposures – ACORD ER3001
Premiums
Claims
Presentation name 3 November 2011

5. Standards are the minimum requirements
Standards state the minimum information to provide
Mandatory fields must be provided in all cases
Conditional fields should be provided dependent on conditions
It is preferable that Management Information Fields are provided
Presentation name 3 November 2011

6. The template provided is not mandatory
New coverholders
New coverholders must report all mandatory information and any relevant conditional fields
The standards are mandatory for new coverholders approved since April 2011
The template provided is not mandatory
Presentation name 3 November 2011

7. Existing coverholders
The standards are not mandatory for existing coverholders but are encouraged as good practice
Questions should be asked if the coverholder is not providing all the mandatory information
Would expect plans to be in place for the coverholder to provide mandatory information
If all the mandatory information is being provided then would expect a similar focus on the conditional fields
Presentation name 3 November 2011

8. Tools User Guide Introductory Leaflet
Presentation name 3 November 2011

9. Recommended Templates
Presentation name 3 November 2011

10. The vision Standard data flowing between all parties without re-keying
ACORD XML widely used
Presentation name 3 November 2011

11. Lloyd’s European Coverholder Event
Miller
Julian Sawyer and Tim Rayner
3 November 2010
Presentation name 3 November 2011