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?