electronic support for endorsements market briefing 5 may 2010
TRANSCRIPT
Electronic Support for Endorsements
Market Briefing5 May 2010
Agenda today
• Pilot scope and timetable
• Technical documentation
• Workshops
• Readiness reporting
• Business scenario testing
• Q&A
• Future briefings
Pilot – no change in scope
• Pilot project based on marine hull, cargo and liability (defined in project documentation)
• Submission and agreement of endorsement by electronic messaging
• Cessation of paper for in scope business
• Bridging the management / practitioner divide
• Target response time – one working day
• Escalation process – internally to trading partner
Timetable – no change
• Bilateral live electronic transaction of endorsements now and ongoing
• Finalise project scoping and confirm broker and insurer commitment completed end Jan
2010
• Implementation of ACORD 2009.1 19 February 2010
• Review market readiness and confirm commencement of pilot mid-May 2010
• Latest technical readiness date 1 June 2010
• Business scenario testing to end August 2010
• Latest operational readiness date 1 September 2010
• Anticipated commencement of full market participation 1 January
2011
Technical Documentation• www.lmalloyds.com [Marketplaces>Ops and Change>Placing Support>Endorsements]
Technical GuideBusiness IntroductionProject OverviewSingle Page Summary
Consolidated Implementation Guide
What to do next: To book onto a session please [email protected]
Workshops
Additional sessions now taking bookings
• www.lmalloyds.com [Marketplaces>Ops and Change>Placing Support>Endorsements]
Readiness
Readiness status to be published to LMA website
• www.lmalloyds.com [Marketplaces>Ops and Change>Placing Support>Endorsements]
Testing Overview - Recap
• Connectivity• Business scenarios• Sign off for business as usual• Prepare LIVE systems
Connectivity Business ScenariosShake down / Prepare live
systems Go Live
Now 1st June 1st August 1st September
06/08/2010 Sign off business scenarios
Testing - key developments
• Test strategy - signed off
• Business scenarios - signed off
• Test scripts - in progress
• Test partner matrix - in progress
Broker 1
Carrier 1
Carrier 2
Carrier 3
Broker 2
Carrier 1
Carrier 2
Carrier 3
Next Steps• Complete technical readiness
• Participate in practitioner workshops
• Engage in business scenario testing
• Reach operational readiness by 1 September latest
Further Briefings• 2 June
• 5 July
• 3 August
• 14 September
• 6 October
• 2 November
• 14 December
Questions?