1. ACORD 2007 The role of messaging and ACORD Phil Brown Project Manager

2. SLIDE 2 Paper document exchange Electronic message exchange Exchanging information Standards valuable Standards essential

3. SLIDE 3 Agent/ Producer Insurance Carriers Regulatory Authorities Service Providers Insurance Agency Reinsurer Claims Management Applications Auditing Regulatory Compliance Payment transactions Premium transactions Broker/Insurer Ins/Reinsurer Claims Submission Without standards

4. SLIDE 4 With standards Agent/ Producer ` Insurance Carriers Regulatory Authorities Service Providers Insurance Agency Reinsurer Claims Management Applications Regulatory Compliance Payment transactions Premium transactions Broker/Insurer Ins/Reinsurer Claims Submission STANDARDS & IMPLEMENTATION Auditing

5. SLIDE 5 London Market slide –1991

6. SLIDE 6 Who is ACORD? Independent and Objective Trade Association Serving the Insurance Industry since 1970 In London since 2001 Facilitating Industry-Driven Standards for Brokers, Carriers, Solution Providers, Market Associations. Not For-Profit Corporation Anti-Trust protected forum for developing Standards and promoting implementation. Develops, Manages, and Promotes Standards.

7. SLIDE 7 Why relevant to London? ACORD RLC standard was developed by London ACORD RLC standard has been refined by London market initiatives A&S initiative G6 input London repository Can use standards implemented within North America and Europe ACORD London presence

8. SLIDE 8 Placing QuotePlace Endors e

9. SLIDE 9 Placing QuotePlace Endors e MR slipG6 MRSIGG6 phase 1 Implemented Complete pilot end Q2 2007 G6 phase 2 (Two-way messaging) Implementation from June 2007

10. SLIDE 10 Placing QuotePlace Endors e MR slipG6 MRSIGG6 phase 1 GPD PLACING IMPLEMENTATION GUIDE DOCUMENT REPOSITORY INTERFACE IMPLEMENTATION GUIDE Implemented Completed - awaits MRG decision on rollout Implemented Complete pilot end Q2 2007 Publish June 2007 (G6 incorporated) Update to include MRSIG Q3 2007 Re-publish June 2007 with London repository rules incorporated TESTING AND CERTIFICATION FACILITY Already implemented with London repository rules included Support for placing targeted for June 2007 G6 phase 2 (Two-way messaging) Implementation from June 2007

11. SLIDE 11 Accounting and settlement Close Accoun t Settle

12. SLIDE 12 Accounting and settlement Close Accoun t Settle A&S Strategic A&S phase 1 Signing messages; BSM, CSM, USM Peer to Peer accounting Implemented No implementation plans Implemented Implemented internationally, not yet in London ELPAN2 Generally available from October 2007

13. SLIDE 13 Accounting and settlement Close Accoun t Settle A&S Strategic A&S phase 1 ACCOUNTING & CLAIMS IMPLEMENTATION GUIDE ELPAN2: Bureau EBOT: Non Bureau Signing messages; BSM, CSM, USM Peer to Peer accounting Implemented No implementation plans Implemented Implemented internationally, not yet in London Publish August 2007 with ELPAN2 and EBOT requirements incorporated ELPAN2 Generally available from October 2007 DOCUMENT REPOSITORY INTERFACE IMPLEMENTATION GUIDE Re-publish June 2007 with London repository rules incorporated TESTING AND CERTIFICATION FACILITY Already implemented with London repository rules included Support for A&S targeted for August 2007

14. SLIDE 14 Claims Advice Paymen t Settle

15. SLIDE 15 Claims Advice Paymen t Settle ECF CLASS (Company market) Signing messages; BSM, CSM, USM CLASS (Lloyds) Implemented Rolling out Implemented Peer to Peer claims No implementation plans available

16. SLIDE 16 Claims Advice Paymen t Settle ECF CLASS (Company market) ACCOUNTING & CLAIMS IMPLEMENTATION GUIDE EBOT: Non Bureau Signing messages; BSM, CSM, USM CLASS (Lloyds) Implemented Rolling out Implemented Peer to Peer claims No implementation plans available Publication with EBOT requirements targeted August 2007 DOCUMENT REPOSITORY INTERFACE IMPLEMENTATION GUIDE Re-publish June 2007 with London repository rules incorporated TESTING AND CERTIFICATION FACILITY Already implemented with London repository rules included

17. SLIDE 17 London office: LUC - Suite 1/3 3 Minster Court Mincing Lane London EC3R 7DD UK +44 207 617 6400 World Headquarters: Two Blue Hill Plaza 3rd Floor Pearl River, NY 10965 USA +1 845 620 1700