with market reform office market reform forum september 2009 christopher croft, mro graeme veale...
TRANSCRIPT
With
Market Reform Office
Market Reform ForumSeptember 2009
Christopher Croft, MROGraeme Veale & Regan Gilbert, MarkelKent Chaplin, Lloyd’s
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9Market Reform
OfficeAgenda
• Market reform update
• ECF is quicker than paper
• Claims transformation
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9Market Reform
OfficeMRG?
• Reviewing role and remit
• “Reform” still appropriate?
• Other things that could be discussed?
• Implications for membership
• At MRG today
• Further publicity to come
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9Market Reform
OfficeFinish what we’ve started
• Negotiation complete
• Recommendation made to Associations
• Now for the contract…
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9Market Reform
OfficeFWWS next steps
• Development programme
– IMR Security model to expand scope of IMR
– XIS systems development to accept and process structured accounting messages
– Non-fundamental splits service
– “ECF2” package of usability improvements
– Binders solution for ECF
On target for Nov 2009
On target for Nov 2009
On target for May 2010
Release from Q1 2010
Prototype approved
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9Market Reform
OfficeMRC – version 1.3
• Feedback received and being assessed
• Views being sought on the best means of expressing withholding taxes
• Guidance changes only so no formal implementation timetable
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9Market Reform
OfficeSupport for placing
• Plans for enhanced change management developing
– Address business implementation needs via Lloyd’s Exchange forum?
– Class of Business pilot?
– Practitioner workshop
• At October meeting of
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9Market Reform
OfficeLloyd’s Exchange
• Phase 2 is underway with 18 participants involved
• To date 15 of the phase 2 participants are now set up on the Exchange
• 10 of these have completed the initial connectivity testing and the remaining 5 are in progress.
• Expecting remaining 3 participants to be set up on receiving registration forms.
• 4 participants begun business testing
• We should see some more live messages from participants involved in phase 1 at the end of this month as a result of the 30th September renewals
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9Market Reform
OfficeAndy wants to tell you something
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Questions?