Electronic Support for Endorsements Market Briefing 5 May 2010.

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Electronic Support for Endorsements Market Briefing 5 May 2010

Transcript of Electronic Support for Endorsements Market Briefing 5 May 2010.

Page 1: Electronic Support for Endorsements Market Briefing 5 May 2010.

Electronic Support for Endorsements

Market Briefing5 May 2010

Page 2: Electronic Support for Endorsements Market Briefing 5 May 2010.

Agenda today

• Pilot scope and timetable

• Technical documentation

• Workshops

• Readiness reporting

• Business scenario testing

• Q&A

• Future briefings

Page 3: Electronic Support for Endorsements Market Briefing 5 May 2010.

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

Page 4: Electronic Support for Endorsements Market Briefing 5 May 2010.

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

Page 5: Electronic Support for Endorsements Market Briefing 5 May 2010.

Technical Documentation• www.lmalloyds.com [Marketplaces>Ops and Change>Placing Support>Endorsements]

Technical GuideBusiness IntroductionProject OverviewSingle Page Summary

Consolidated Implementation Guide

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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]

Page 7: Electronic Support for Endorsements Market Briefing 5 May 2010.

Readiness

Readiness status to be published to LMA website

• www.lmalloyds.com [Marketplaces>Ops and Change>Placing Support>Endorsements]

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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

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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

Page 10: Electronic Support for Endorsements Market Briefing 5 May 2010.

Next Steps• Complete technical readiness

• Participate in practitioner workshops

• Engage in business scenario testing

• Reach operational readiness by 1 September latest

Page 11: Electronic Support for Endorsements Market Briefing 5 May 2010.

Further Briefings• 2 June

• 5 July

• 3 August

• 14 September

• 6 October

• 2 November

• 14 December

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Questions?