IT Club ACORD Update

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IT ClubACORD Update

• October 2007

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ACORD Forum London

• Very well attended
• Very positive feedback
• Within ACORD
• From sessions
• From Service Providers
• Lots of good sessions
• Some London focus
• Some International focus
• Aims
• ACORD is International
• Lots going on in London
• ACORD is key in Reform implementations

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ACORD Forum London

• Thanks for your support

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Cat exposures - Quality of data
Cat modelers
Risk manager
Large Enterprise
London Carrier
Reinsured
Homeowner
Small Enterprise
Domestic Carrier
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Cat exposures - Quality of data
Cat modelers
Risk manager
Large Enterprise
London Carrier
Reinsured
Some consistency Cat modeler files exchanged
but not interoperable
Homeowner
Small Enterprise
Domestic Carrier
6
Cat exposures - Quality of data
Cat modelers
Risk manager
Large Enterprise
No consistency Paper, cds, non-standard
spreadsheets, etc
London Carrier
Reinsured
Some consistency Cat modeler files exchanged
but not interoperable
Homeowner
Small Enterprise
Domestic Carrier
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Catastrophe Exposure - Data Standards

• New working group in ACORD
• Updating and promoting 2003 standards
• Kick off meetings in New York, Zurich and London
• Ongoing monthly teleconference meetings (started
  October 2007)
• Exposure reporting at individual-location-level
  for all lines of business
• Targets
• Confirm data standard by end 2007
• Marketing/advocacy 2007/2008/ongoing
• Technical pilots from early 2008

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Catastrophe Exposure - Working group participants

• ACE INA Overseas Ins Co Ltd
• ACE Tempest Re
• Advisen
• AIG
• AIR-Worldwide
• Allianz Insurance
• Amlin
• AON Corporation
• Aon Re
• Applied Systems Inc
• Ark Syndicate Management
• AXIS Reinsurance
• BearingPoint
• Beazley
• BRIT Insurance Limited
• Cathedral Capital
• eReinsure
• Glacier Reinsurance
• Heritage Plc

• Marsh
• Munich Re
• Paris Re
• Partner Re
• Risk Management Solutions
• Sequel
• Skywire Software
• Support Sp.
• Swiss Re
• Talbot Underwriting Ltd
• The Travelers Companies Inc.
• Transatlantic Reinsurance
• Web Connectivity Limited
• Willis
• XL Reinsurance
• Zurich

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Maintenance Requests

• Standards Upgrades Florida meeting
• Documentation consistency and three key upgrades
• Underwriters references against risk code splits
• Agreement parties aggregate enables mapping of
  London EDI messages
• Consistency between GPD and MRC

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E-Forms

• ACORD experience in USA being brought to bear
• Key areas of interest
• Endorsements
• Lloyds managing agents reporting
• Others to be considered.

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ACORD Dates for London in 2007 (19/10/07)

• TCF
• DRI messages Complete
• Placing message Complete
• Accounting message Was September, awaiting EBOT
  signoff, looks like November
  
• Claims message Q4
• Digital signatures Q4
• Self service TCF Q4
• Placing Implementation Guide
• Phase 2 Complete
• Updated for London Endorsements Was Q3 awaiting
  Pilot feedback
• GPD
• Updates for MRC October
• Accounting Implementation Guide
• EBOT Complete in draft awaiting signoff
• ELPAN2 Part of EBOT
• Catastrophe modelling
• Initialisation Complete
• Detailed work tba
• Binders tba

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IT ClubACORD Update

• October 2007