1. With LMG Secretariat LMG Forum January 2012 Christopher Croft, LMG Secretariat Rob Gillies, LMA Mark Barwick, LIIBA

2. LMG Forum 2011 Agenda Modernisation update Endorsements – the road to March 5 th ACORD RLC Programme

3. LMG Forum 2011 In ink, therefore it is…?

4. 4 © Xchanging 2011, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging. ECF2 Current Status 16 Jan 2012 Claims Workflow Triggers (CWT) 22 carriers receiving live messages 16 fully integrated into own workflow Other carriers to join by arrangement with Xchanging Claims Agreement Services (CAS) & Single Sign On (SSO) CAS & SSO are live 84 carriers plus XCS rolled out in production Rollout is now largely complete, with only 4 carriers remaining to be completed by the end of Q1. Document File Viewer (DFV) DFV is live and converting 5000 – 7000 documents a day Some intermittent teething problems continue and are scheduled for resolution by the end of Feb Rollout in line with CAS & SSO schedule Claims Workflow Services (CWS) Service deployed to 68 organisations Only 1 organisation remains to be implemented by the end of Q1 ECF001, ECF002, ECF003, ECF004, ECF005, LADD & LREC are in use with 134 users Claims Data Warehouse (CDW)

5. 5 © Xchanging 2011, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging. eAccounts eAccounts Current Production use Miller, Price Forbes, UIB, Guy Carpenter, Aon UK, Lockton, Towers Watson and Ropner continue with live operation NMB, Houlder & Aon Benfield are undertaking business testing as part of convoy three implementation. The Winter maintenance release remains on schedule. eAccounts Release 2 (R2) Xchanging continue working together with the Market to deliver R2 using the ‘big bang’ approach to delivery. 5 out of 6 final estimates and timescales for the requested change requests have been delivered. Development has approved by the AAC. The corrections CR is proving to be complex and we anticipate the estimate will be ready by the end of January. MAT planning continues

6. LMG Forum 2011 LMG 2012 targets InitiativeTargetDate ECFAll new claims via ECF. Increase ECF usage to 80% of all open claims. Q4 eAccounts release 112 brokers live; processing 20% of their business. Q2 eAccounts release 2Deliver into live usage Achieve 70% of potential live volume. TBC Non bureau business 10 new broker-insurer partnerships live. Q4 EndorsementsRollout across all classes 70% of endorsements processed electronically Q1 Q4 Electronic support for placing Agree roadmap Existing & early adopter activity Q2 Ongoing

7. LMG Forum 2011 Non Bureau Accounting Live partnerships involving: –Aon –Willis –XL –ACE Organising an event for potential new participants Case study/business case document to be published

8. LMG Forum 2011 Endorsements Manager of the Month

9. LMG Forum 2011 An Endorsements Manager of the Month official partner

10. LMG Forum 2011 Endorsements broker of the month

11. LMG Forum 2011 Endorsements insurer of the month

12. LMG Forum 2011 Questions?

13. Endorsement Initiative Update Agenda Electronic Support for Endorsements January 2012

14. Endorsement Initiative Update Agenda  Build-up to 5 March – all classes in scope  Reviews with MAs  Broker implementations and broker engagement Comments

15. Endorsement Initiative Update Agenda Roll-out matrix www.londonmarketgroup.co.uk > Placing Support > Electronic Support for Endorsements

16. Exchange Message Volumes

17. Endorsement Initiative Update Agenda Managing Agent Data

18. Endorsement Initiative Update Agenda Response times

19. Endorsement Initiative Update Agenda Response times

20. Endorsement Initiative Update Agenda What next Project surgeries Systems, procedures and practice document Readiness checklist Engagement with underwriting groups Communications All classes live: 5 March 2012

21. Endorsement Initiative Update Agenda Questions?

22. LMA Rob Gillies Telephone: 020 7327 8377 Email: robert.gillies@lmalloyds.comrobert.gillies@lmalloyds.com Peter Holdstock Telephone: 020 7327 8383 Email: peter.holdstock@lmalloyds.competer.holdstock@lmalloyds.com LMG Secretariat contact Steve Hulm Telephone: 020 7327 5249 Email: steve.hulm@londonmarketgroup.co.uk steve.hulm@londonmarketgroup.co.uk IUA Contact John Hobbs Telephone: 020 7617 4445 Email: john.hobbs@iua.co.ukjohn.hobbs@iua.co.uk Lloyd’s Contacts James Bobbitt (Technical) Telephone: 020 7327 5248 Email: james.bobbitt@lloyds.com Paul Willoughby (Project Management) Telephone: 020 7327 6634 Email: paul.willoughby@lloyds.compaul.willoughby@lloyds.com Trevor Maddison (Relationships) Telephone: 020 7327 5231 Email: trevor.maddison@lloyds.comtrevor.maddison@lloyds.com LIIBA Contact Chris Buer Telephone: 020 7280 0154 Email: chris.buer@liiba.co.ukchris.buer@liiba.co.uk Contacts

23. LMG Forum – ACORD Update January 2012 Mark Barwick Global Reinsurance Large Commercial Programme Director, ACORD

24. Month XX, 2011 24 Agenda Placing Exposure Reporting Accounting & Claims Roadmap

25. Month XX, 2011 25 Placing London Endorsements ACORD Form based placing in other markets Post placement message likely to be piloted in 2012 by Ruschlikon DRI placing Document delivery being considered – better than email Exposure Reporting Message now available

26. Month XX, 2011 26 Exposure Reporting - The Problem Insufficient, Little, if any, data supplied Typically paper format No standard database to capture schedules Exposures recorded on cards / datasheets Manually calculated exposures Data is costly and unreliable Requiring significant checking & re-work Inconsistent regarding data definitions A mixture of external and proprietary code sets regulatory requirements regarding data reliability

27. Month XX, 2011 27 How Can Standards Help? Reliable data – consistent definitions and format assists regulatory requirements to prove data is correct Cheaper data – The costs associated with receiving and supplying data will drop since only one format to support More data – As data acquisition costs drop more data will be provided Quicker data - receivers and senders of data don’t have to reformat it and interpret it for each trading partner

28. Month XX, 2011 28 ACORD Exposure Reporting Standards Spreadsheet standards available for: Binding Authority property schedule – ER3001 Simple address level reporting – ER3002 Aggregated exposure reporting – ER3003 XML standard available for all above as well as: Comprehensive Exposure Reporting Insurance specific code sets for: Perils Construction types Occupancy (usage) types GeoCode Match Levels (precision of Lat/ Long coordinates)

29. Month XX, 2011 29 The three main cat modellers are committed to implementing ACORD import and export functionality - AIR Worldwide, EQECAT and RMS Other notable supporters: CRESTA PERILS Allianz, Lloyd’s, Scor, Swiss Re, Tiger Risk Support for ACORD’s Exposure Reporting Standards

30. Month XX, 2011 30 Accounting & Claims Premium and claims advice and settlement Insurance and Reinsurance, Broker or direct Geography – 6 continents & more than 30 countries EBOT – Electronic Back Office Transactions ECOT – Electronic Claims Office Transactions Ruschlikon Rulebook – target performance standards Ruschlikon Lite – Low cost option for cedents/brokers

31. Month XX, 2011 31 FOUR COMMITTEES ONE STANDARD NON

32. Month XX, 2011 32 Ruschlikon Steering Group AonBenfield, Guy Carpenter & Willis, Swiss Re, SCOR, Munich Re, Axis, XL Re and Catlin Bermuda Message volumes continue to rise; 2010 = 150,000, 2011 = 215,000, projected 2012 = 360,000. Steering Group liaises with other implementation communities and coordinates work of the Business Implementation Group (BIG) Pilots being considered for 2012 for placing administration Visit www.ruschlikon-global.comwww.ruschlikon-global.com

33. Month XX, 2011 33 London Non Bureau Group Participants - Chubb, Xl Insurance, XL Re, Chartis, RSA, Ace, Willis, Aon and Marsh. Implementations in 2011 between Willis and Aon and XL insurance and ACE Chartis have secured executive support and are finalising their business case Focus is large commercial insurance – EBOT now, ECOT later http://www.londonmarketgroup.co.uk/index.php?option=com_content&view=category&id=102&It emid=213 http://www.londonmarketgroup.co.uk/index.php?option=com_content&view=category&id=102&It emid=213

34. Month XX, 2011 34 US Advisory Group Participants - Aon, Guy Carpenter, Willis, Chartis, Munich Re, Swiss Re, Partner Re, Travelers and XL Re Implementations in place this year between Willis and Aon and XL insurance and ACE Chartis have secured executive support and are finalising their business case Focus is on large commercial insurance – EBOT only to start with (ECOT later) See http://www.acord.org/usrecom/Pages/default.aspx http://www.acord.org/usrecom/Pages/default.aspx

35. Month XX, 2011 35 Ruschlikon in Bermuda Steering Group Participants - Chubb, Xl Insurance, XL Re, Chartis, RSA, Ace, Willis, Aon and Marsh. Implementations in place this year between Willis and Aon and XL insurance and ACE Chartis have secured executive support and are finalising their business case Focus is on large commercial insurance – EBOT only to start with (ECOT later)

36. Month XX, 2011 36 Further developments in 2012 Franco-German event planned for Q2 Targeting Brokers, insurers, cedents, captive brokers Could lead to groups in each market being formed

37. Month XX, 2011 37

38. Month XX, 2011 38 FIND OUT MORE ABOUT THIS AT THE FEBRUARY 23 RD ACORD CLUB. Contact mbarwick@acord.orgmbarwick@acord.org

39. Month XX, 2011 39