ACORD4ALL
What is it?
•
Converting ‘bureau’ legacy messages to ACORD equivalents
•
Signing, settlement & claims
•
Why invest in it?
1.
1.
Underpin ACORD direction
2.
Add real volume to assist business case for ACORD Gateways
2.
Attract new organisations
1.
Removes a major “Londonism”
2.
Extends reach of processing platform
3.
1
Aid market initiatives
Changes in current organisations e.g.
1.
XL Re global platform
2.
Gateway investment
ACORD4ALL programme launched January 2008
© Xchanging 2009, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
How conversions are completed
Xchanging works with key strategic partner – Web Connectivity
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Xchanging ACORD Gateway (XAG) is WCL B2B product
Web Connectivity supply ACORD expertise
•
Mapping to target data definition
•
Working group input
•
Maintenance
Xchanging supply source data expertise & infrastructure
•
Install source to target data definition in IBM WebSphere Transaction Extender
•
Test
•
Embed as part of overnight processing with controls
2
© Xchanging 2009, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
XL Re Europe Limited, London Branch
ACORD4ALL
Mark Berry
Peter Sammons
November 19, 2009
Original Platforms – 5 Years ago
Approximately 80% of the functionality was repeated in 11 systems
Destiny
Vendor System
RSG
XLRA
GIC
IHIC
RSG
Run Off
LA RE
XLRE
BDA
Toronto
Singapore
Sydney
SICS Classic
London
XL RE
Europe
Data Mart
Data Mart
Group Re
RSG
Data Mart Data Mart Data Mart
Data Mart
XLRA
Data
Month End Warehouse
4
Benefits of moving to one System

Reduces duplicated processing and interface costs across segment

We gain consistency from shared business processes and best practices

We can leverage our investment in system development across segment

Enables us to respond faster to changing business needs
Improves data quality and transparency for consistent common
reporting

Improves auditing efficiencies across the segment: Sarbanes-Oxley,
FSA, etc.


Reduces paper processing
5
Initial Planning

Executive buy-in (awareness to opportunities & industry
involvement)

Commitment to ACORD Standards as the foundation – Structured
Data

One In-House system

5 Year Plan structured for continuous and real time review
throughout

Budget
6

Communication
Implementation Issues

Pressure on the Business

User expectations

Enforcing change

Global implementation - different cultures and the time differences

Missing Functionality

Existing data quality

Budget
7
XL Re 2009 and beyond

One system: changes are agreed by global teams and implemented
once

ACORD messages worldwide, leveraging Xchanging’s services
where available or direct with our business partners

Actively reduce paper process and documentation where redundant

Improve cash flow

We will not have to rely on a third party vendor, which means we
can develop at the pace we choose

Management information is more consistent, easier to analyse and
8
XL Re Global Capability
9
Any Questions?
Mark Berry
General Manager, London Branch
XL Re Europe
Peter Sammons
VP, Systems Implementation
XL Re Europe
November 19, 2009
ACORD4ALL Status
•
Status
•
LIRMA set completed
•
Lloyd’s core set completed
•
•
Excludes LORS, Claims Snapshot and Monthly Control Message
Signing, Settlement & Claims (LIRMA & Lloyd’s) with ACORD for EBOT & ECOT
(2008-1) content validation
•
Certification looks good with two obvious caveats:
•
•
data elements that are outside EBOT, but supplied in role of service
provider
Extension schema for London specific data
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© Xchanging 2009, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
Xchanging summary #1
•
Programme in place for nearly 2 years
•
ACORD capability currently limited to LIRMA & Lloyd’s
•
ILU & Brokers investment in negotiation
Lessons learned:
•
•
This is a change, a culture change merging best of London with global processing to
eliminate “Londonisms” e.g. Deferred scheme, multi currency claims
You can rarely do enough testing
•
•
With XL Re, we ran months of claims data files –12,000+ ACORD claim movement
files processed
Business cases count, not technical theory. Changes impact everyone e.g. “sum
insured” now reported as “contract limit”
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© Xchanging 2009, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.
Xchanging summary #2
•
•
•
Volumes
•
Bring London volumes to the gateway cost/benefit
•
Your share of 20m transactions per year
Versions
•
Don’t worry
•
2005-2, 2008-1 and whatever the future brings
Value
•
Transaction service, pay as you go
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© Xchanging 2009, no part of this document may be circulated, quoted or reproduced without prior written approval of Xchanging.