Final esjwg aamga 2013

E&S Joint Working Group

AAMGA Automation & Technology Conference

Scottsdale, AZMarch 3, 2013

Antitrust Statement

Antitrust laws aim to protect the public from agreements between competitors that affect the price or distribution of products while promoting fair and vigorous competition in the marketplace. AAMGA member companies, as competitors in the market, will always act in their individual,

competitive best interests.

When member companies meet at AAMGA functions there are legitimate concerns about the application of antitrust laws to their discussions. Because AAMGA meetings are not authorized by

any state regulatory official acting under proper statutory authority, the McCarran-Ferguson Act exemption does not provide protection against antitrust enforcement. This statement is intended to

provide general guidance regarding the permissible areas of discussion.

It is imperative that participants avoid any discussion of prices, market allocation, product restrictions or any conduct that could be construed as boycott. These topics are per se illegal – the intent of the parties or the effect on competition is irrelevant. Other commercial activities may also

be violations of antitrust law if they constitute an “unreasonable” restraint of trade.

E&S JWG Sponsors

CJ Ketterer/Scott MontneyTechnology Committee Co-Chairs

Jeff YatesACT Executive Director

Cal DurlandACORD Director of Member Relations

Mike ArdisDirector of Communication & Technology

http://www.aamga.org/

E&S JWG Constituency

MGA/Wholesalers

E&S Carriers

Retail AgentsVendors

E&S JWG Mission

Further the standards-based electronic exchange of information in

the E&S market

E&S JWG Organization

• Co-Chairs– Angelyn Treutel, SouthGroup Insurance– Mike Roy, Risk Placement Services

• SubGroups– Carrier

• Greg Ricker, Atlantic Casualty• Scott Good, Scottsdale Insurance

– Retail Agent/General Agent (RA/GA)• Lisa Parry Becker, William B. Parry & Son• Tate Tooley, Bloss & Dillard

– Lloyd’s• Tammie Miller, Risk Placement Services• Sarah Thacker, Lloyd’s

Today’s Agenda

• 8:30 – 8:40: Introduction• 8:40 – 9:10: RA/GA Subgroup• 9:10 – 9:40: Carrier Subgroup• 9:40 – 10:10: Lloyd’s Subgroup• 10:10 – 11:30: Breakout Sessions• 11:30 – 11:45: Session Wrap-Up/Next

Steps


Retail Agent/General Agent Subgroup

RA/GA Subgroup Update

• Workflow Improvement Recommendations– Current– Future

• Retail Agent/General Agent Demos

RA/GA Subgroup: Workflow Improvements

• Enhance communication– Implement TLS secure email– Self-administration tool for retail agents– Generic emails: personal@abcagency,

[email protected], certificates@abcagency– Accept ACORD apps– Limit supplemental and requests for non-standard data– Add pop-ups on MGA website when additional

information needed– Eliminate redundant data entry

mailto:[email protected]


– Self-administration tools– Tracking status within the website

• Quote submissions, renewal process, endorsement

– Access to claim status– Renewal questionnaires


• Renewal Questionnaires and Messaging– 90 Days in Advance is Preferable

• The above account is set up to automatically renew this year. You do not need to complete a renewal application. The policy will be issued about 20 days prior to the effective date. Please note this account may receive a pricing increase due to changes in underwriting guidelines.

• We want to offer you the best possible terms, conditions and pricing available in the marketplace. To do that, we need a completed ACORD application. If a supplemental application is needed, we will forward it to you.


• Enhance communication– Send initial quotes to requestor

• Renewals, underwriting, endorsements to generic email

– Send full set of quote documents• Quote, bind request, finance agreement, s/l affidavits,

terrorism)

– Send indexed policy document pdfs (new, renewal, endorsements) to generic email


• Index Suggestions:– Table of Contents– Line of Business sections

• Declarations pages• Forms and exclusions

– Interline forms and exclusions– Signature pages– Additional interests



• Accounting– Finance Agreements– Statement Communication– Commission Statement Samples


• Claims Communication– Adjuster assignment– Status updates– Claim payments

– First Notice of Loss– Claims Inquiry– Claims Download, including payments


• Future Development (12 – 24 Months):– Download

• Commission statement • Policy • Claims

– Real-time • Logons and complex non-expiring passwords• Inquiry transactions: billing, policy and claims• Rating• ACORD Activity Notes• Best Practices implementation guide

– E-Signatures– Accounting: accept credit cards


• Next Steps:– MGA Unique Identifiers (NPN)

• ACORD standard approved November 2012• Update management systems• User Guide

– E-Signatures– ID Federation

• Industry effort to move to federated, digital identities

– Ongoing Forums


Proof of Concept Demos


• Upcoming Events:– April 9, 2013, Real Time Day– Industry Webinars

• TLS, workflow, electronic policy delivery

Questions & Open Discussion

Carrier Subgroup

Challenges

Goals & Objectives

Who’s in the Group

2012 Activities

ACORD GL Standard

What we have Learned

2013 Plans

Carrier Sub-Group Agenda

What are the challenge’s that we are facing?

• Exchange of data between wholesalers & carriers is difficult• No agreed upon standard• Low adoption and implementation rates

• Exchange of data between wholesalers & carriers is expensive• Custom Interfaces require custom programming

How do these challenges impact us?

• Quoting multiple markets is timely & expensive

• Maintaining rates and forms increases error rates

• Vendor & systems costs escalating

Purpose

The way we’re doing business has to change.

1. Agree on a standard for sharing data and resist building

custom data interfaces.

2. We must increase efficiencies, thus reduces our expenses.

3. With ACORD’s help – expand the existing ACORD standard

so they meet customer needs.

4. Implement based on these standards.

Call to Action

• Further the standards-based electronic exchange of information in the E&S space.

• Showcase implementations that represent what we are trying to achieve.

• Create discussion and interaction amongst the relevant parties.

• Introduce solutions and vendors that may be useful or adaptable to our needs.

• Adapt to the input of our base to stay current and relevant.

Goals & Objectives

• Four carriers in the working group has grown to 14

• Vendors participation increased from three to over a dozen

• MGA interest and participation also increased

Who’s in the Carrier Sub-Group

In early November, 2011 the Carrier Sub-Group defined our goal, a couple leaders stepped forward, and work began.

• Selected first Line of Business (Commercial General Liability)

• Ability to request rates and forms / Send data back

• Involve minimum four E&S Carriers

• Recruit minimum of three vendors

• Have all parties modify their system to use a single data

standard

• Demo March 5, 2012

Initial Plan for 2012

Demo presented in March ‘12

System worked as designed:

• Single XML data request and response utilized

• Commercial General Liability Rates Returned

• Forms information returned

• Minimum premiums returned

• Transactions completed in seconds (real time)

Results of the Demo

We were successful in the implementation of:

Commercial General Liability Rate Request/Response• Standard Developed• Group sign-off• ACORD incorporating into the PCS standard Fall 2012• Approved by ACORD January 2013 (PCS 1.24)• Already in production with one carrier

GL Rating (returning fully developed premiums)• Revised the PCS standard with ACORD to including Rating• Approved by ACORD Program Working Group 2/28/2013.

Final approval May 2013.• Carrier’s begin to adopt the GL Web Service Standard

ACORD Standard - Updated

1. ACORD has been very responsive to the JWG Carrier team

The ability to move from Proof-of-Concept to a Standard in 6 months is unprecedented

2. We were able to make changes with ACORD very quickly

3. The number of active participants in the meetings has grown considerably

4. We have found that we have more in common, than not

5. We just needed a good idea and some participation to make a difference

What we have Learned?

1. Other Lines of Business• Work on the Property Rate and/or Rating Standard• E&O, D&O, Umbrella, and EPLI• Continue the close collaboration with ACORD

2. Educate on the new Standard to enable adoption• This begins in the Break-out session where we will walk through

the ACORD Technical Specification• This is a targeted document (under 50 pages) that just highlights the E&S Standard !!!

3. Discuss other forms of Web Service, outside of Rates, such as:• Loss History and Claim Inquiry• Submission• Other ideas that you might have

2013 and Beyond

Any Questions?

Lloyd’s Subgroup

ChairsTammie MillerSarah Thacker

Lloyd’s Subgroup – Rewind to early 2010

• Coverholders were having to provide information on risks, premiums and claims

• Regulators, reinsurers and investors were asking for more and more information

• Syndicates were all asking for different information• MGAs did not want any more systems• Re-keying was commonplace at coverholders, brokers and

managing agents

Lloyd’s Subgroup – April 2010 – Lloyd’s Vision

• Standard flows of information between coverholders and the Lloyd's market

• Data standards which can be used within and outside the Lloyd's market

• MGAs free to choose their systems

Lloyd’s Subgroup – 2013

• Lloyd’s reporting standards exist for• US property exposures• Premiums• Claims

Lloyd’s Subgroup – where are we now

• Lloyd’s have created spreadsheet templates– To assist those manually creating monthly reports– As a guide when designing automated reports– The spreadsheets are for worldwide requirements,

just select the columns you need

Lloyd’s Subgroup – where are we now?

• Managing agents and brokers in London are investing in new systems

US MGA creates manual

spreadsheets or cannot afford to change layout of

reports

In London new data mapping

tools and systems remove the need

for consistent formats


• Managing agents and brokers in London are investing in new systems

In London up to date binder systems are designed to receive

XML as well as spreadsheets

US MGA wants to use automated

XML

Lloyd’s coverholder reporting standards can be met using ACORD XML


• ACORD are providing training via webinars:-• Premiums was held 20 Feb• Exposure management 13 March• Claims 20 March


Welcome, Marcia Berner from ACORD


© ACORD 2013

ACORD Knowledge Center

Binding Authority Premium Reporting Standards

20 February 2013

Lloyd’s spreadsheet template

• Lloyd’s has developed• Premium & Claims

spreadsheet templates• Guide to using them

• Content driven by regulatory reporting requirements• Data in the templates

fulfills requirements for reporting back to country/state of origin

Overview of Enhancements

• ACORD XML V1.x message design• Large market penetration in US and

Canada for property and casualty reinsurance

• Utilization of preexisting XML message design• Notification (Notify) – MGA/GA to carrier

for activity which has occurred

Basis for design – Lloyd’s spreadsheet standard

Design Equivalent XML V1.xMessage Sets

• Within AccountingSvcRq and AccountingSvcRs services

• Set 1• BindingAuthorityPremiumTransactionReportNotify• BindingAuthorityPremiumTransactionReportNotifyRs

• Set 2• BindingAuthorityClaimTransactionReportNotify• BindingAuthorityClaimTransactionReportNotifyRs

Notify message

• Header information• Reporting Entity Name• Date Range for Report• Activity Date (send date)

• Line Item (transaction) information• Each transaction a single line item• Lloyd’s specific data elements created

Notify Message Design

Message Header Fields

Message Detail/Line Items

Notify Response Message

• Acknowledges receipt of XML ONLY• Provides error condition(s)

concerning the receipt (not content) of the Notify message

• DOES NOT imply content has been validated

How to Get Started

• Download P&C XML Standard• Download Transaction Specs• Obtain buy-in from Trading Partners• Create proto-type XML• Compare with

statement/spreadsheet• Transmit test XML

Basic Standard Release

• Schema• Help File/PDF• Available ONLY from P&C Standards

page

Implementation Documents

• Available on P&C and GRLC Standard pages

…continued

• Transaction Specification .html docs• Outline• Specification

• XML Samples (Rq/Rs)• Schema subset• Spreadsheets (2)

• Showing Lloyds Reference• Field List

New Standards Artifacts

…continued

For questions or more information …

NAME: Marcia BernerEmail: [email protected]: www.acord.org

NAME: Phil BrownEmail: [email protected]: www.acord.org

http://www.acord.org/

http://www.acord.org/

• Most US MGAs still send spreadsheets to London• A small number are now sending XML• Who else wants to send XML?


• Which vendors are implementing the Lloyd’s standards for Excel and for XML?

• Who would like to do a demo?


• The Carrier Group and the Lloyd’s Group have been working in isolation

• Is it time to share?


Thank you

Lloyd’s Subgroup

Subgroup Breakout Reports

• RA/GA – Lisa & Tate

• Carrier – Scott & Greg

• Lloyd’s – Tammie & Sarah

E&S JWG – Upcoming Events

• New E&S JWG Website Launch – March 2013• ACORD / LOMA

– May 6-8, Las Vegas (ACT Meeting 5/5)• IASA Conference

– June 2-5, Washington, DC• Scottsdale Insurance – Customer Technology Forum

– June 13-14, Scottsdale, AZ• NAPSLO Annual

– September 29 – October 2, San Diego• ACORD Implementation Forum

– October 28-31, Boston

E&S JWG – How You Can Join

1. Register on ACORD website at www.acord.org

2. Notify Geri Prescott ([email protected]) that you want to be a member of the E&S Joint Working Group & one or more of the following subgroups:

-- RA/GA Interface -- E&S Carriers -- Lloyd’s

mailto:[email protected]


Thank You For Your Time!

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