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ECF 360. From a Broker, Managing Agent and Xchanging Perspective. Broker Perspective.
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ECF 360 From a Broker, Managing Agent and Xchanging Perspective
Broker Perspective As brokers use many different batch systems the following screenshots are from Interactive CLASS – highlighting ECF related fields and any other fields that will assist the smooth flow of the agreement process. All screens are populated with test data for demo purposes only. It should be best practice to populate all fields with accurate data and to use narrative fields fully. All Brokers should aim for a “right first time” target.
UMR – This must be the same as the Original Premium / FDO Signing is under, or the result may be a partial file. If incorrect and released to CLASS even if noticed and subsequently corrected there will be duplicate UCR folders created on the IMR and the claim will have to be deleted and recreated under another UCR. Full name and full phone number in case of query BKR CLAIM REF1 Same Ref as used in the Broker’s system. for the transaction to ensure matching of BSM SLIP LEAD (CARRIER CODE) The London bureaux leader. Creates ownership of claim in the IMR. Populate with Lloyd’s Syndicate number, Lirma Stamp or ILU first 6 digits. ECF CLAIM Defaults to Y for Lloyd’s, N if paper file, T if transition transaction from paper to ECF
Unsigned risks on Lloyd’s ECF are ‘Out of Scope’ Note: Format of Orig Signing = YYYY/MM/DD Number
This is not ECF Specific Details should be as full as possible e.g. claims splits, hull / liabs, fees. If re-releasing a transaction to answer a query, add narrative explaining the reason, which will assist carriers
Once released this is the route for a broker to enquire On-line
Broker On-Line view of responses Adjuster comments are loaded here. Keep these concise as there are limited lines available. Be sure to add full name and contact details. Additional narrative can be added to a document and saved to the IMR. If a broker is re-releasing a transaction to resolve a query, add additional narrative to explain the purpose of the re-release to carriers
Use this button to link straight to a claim summary in the repository. This functionality only works if the CLASS user has a repository license. It will save a user having to log in twice and remembering two passwords.
Note – The broker view builds from CLASS. Therefore if the claim is across CLASS markets, this screen shows the Bureau lead of the last transaction released to CLASS. If for any reason a CLASS message is deleted on one version of CLASS but live on another version, the transaction tab will show DEL. The Helpdesk will need to reset the access control for remaining CLASS users to be able to view it. Select to add documents
Click on the + and a selection box opens and will allow you to choose documents to load. Multiple selections are allowed. The further actions below must be performed on all documents therefore you should highlight each in turn. This must be the date the document was created and is used to build a chronological view in DFV. Always attach documents at transaction number level Click create to load
Note the difference where the date is not completed on loading. The transaction is now ready for adjusters.
After logging in, this is the first page you will see. It allows you to search the IMR for claims or risks. It’s a good idea to always uncheck the ‘Exclude Closed Claims’ box when searching, as the claim you are looking for may be on a closing transaction and if this check box is ticked it will not include it in your search results.
This is a search which brings back a list of all claims awaiting completion on the IMR for the syndicates which you are authorised to access and for which you have an agreement party role. If the response code is blank in conjunction with a lead role then it requires your action before any other party can work on it. Once you have responded, the response code will be updated and the entry will remain on your ‘Awaiting Action’ list until all agreement parties have responded. Lloyds claims can only be searched for in this section and results can be filtered using the various fields in the search section.
Once you enter a particular claim this will be the first screen you come to. It allows you to raise an individual or organisational conflict if appropriate. It will take you to the following page if you register a conflict.
If you raise a conflict in error or the conflict no longer exists please contact the XIS helpdesk to have the conflict removed. If you raise an organisational conflict you will need to contact the broker and XCS to advise them of this conflict.
Once past the summary page, the main page to access is the ‘Transaction Summary’. This shows the current transaction loaded by the broker. Details of the claim Continued on next page
Continued from previous page The financials Documents in support of the transaction being presented for agreement by the broker If there are no documents in the claims related documents section, do not proceed to agree the claim as it will be rejected by XCS. Likewise if there is no OSND. Click on the blue name of the document to access the document.
If there are no documents on the previous screen do a quick check on the ‘All’ tab to see if the broker has loaded the documents but neglected to link them to the transaction. If this has happened you can ring the broker and advise them to correct this error. It is also important that the slip and associated documents are loaded to the UMR. You can check this by using the ‘View UMR’ button. This will take you to The UMR screen.
The UMR screen must hold as a minimum, a copy of the slip with the signing numbers & dates either physically on the copy of the slip or if electronically signed; in this section here. The claims section will show the details of every claim on the IMR relating to this UMR.
Going back to the claims agreement process: you must go through the ‘Market Response’ screen to get to the agreement page. In this example we are acting as Syndicate 1400 and we have a response code of NAK which equates to ‘not acknowledged’. Click on NAK and go through to the ‘Market Response Details’ Page.
This is the beginning of the response page. Your details will appear in the role section if you are an agreement party to the claim under the appropriate Lloyd’s Claims Scheme. Everyone must ensure that their full telephone number is completed. ‘Claims Reference 2’ is used for examiners initials by some Managing Agents. Continued on next page
Continued from previous page This is the section where you can add additional agreement parties, if required by the Lloyd’s Claims Scheme. Continued on next page
Continued from previous page This section shows you the financials with an option to flick between your share and 100%. You can also enter any lead underwriter reserves for XCS to include in addition to those being presented by the broker.
This is the section where you register your response to the brokers transaction. The claims scheme section is automatically calculated by the system using the ‘YOA’ & ‘Risk Code’. However please check to see if this is correct as there are some variations. Refer to the LMA for further information and guidelines relating to the Claims Transformation Project.
Triage Category comes next. Please select either standard or complex in accordance with the guidance notes provided by the LMA.
Now you have to select the appropriate response button. If the documents are missing, there is no OSND or the claim is on the wrong YOA; select Query /Return and clearly explain your reason for this response in the ‘Public Comments’ section so that the broker can correct the error.
If you’re happy with the presentation, then respond Seen/action (if there is a payment involved then your response would be agree pay) Write your comments as you would do on a paper file and always ensure that you include your full name, your organisation and the date on every type of response, as the broker will not know who has responded without this information. Likewise the broker will not be able to advise you when they’ve corrected a claim that you’ve query returned, without this information.
The private comments section can only be seen by Insurers & XCS. It is prudent that should you wish to give any instructions to XCS such as adding an additional reserve in this example, that you clearly document your instructions in this section. Both of these sections are limited in size and it is recommended that if you have extensive comments to make, that you put these in a word document, load them to the relevant transaction in ECF and refer to them in the public comments section. Once you’ve completed this section you will enter your password again and click the submit button.
If you now go back to the ‘Market Response Summary’ you will see that the NAK has now changed to S/A ‘seen action’.
If you have a transaction which is above your authority levels within your organisation, a useful feature is the ‘Send Link’ function, which will generate an email on your computer containing a hyperlink to the claim in ECF. This automatically generated template can be overtyped and amended. It can also be used to refer matters to brokers, co-insurers & management if the item is above your authority limit; thus saving time. (see slide 39 for example.) Another feature is cross market comments which allows you to view the comments of every insurer that has made a response to a transaction after November 2008 regardless of the bureau. (see slide 40 and 41 for examples)
LIRMA private comments can only be seen by the organisation that created them, the private comments of all other bureaus can be seen by all insurers.
At the top right hand side of the screen there is a feature entitled ‘Quick Links’ which works like a favourites & history section on an Internet browser. It is particularly useful when recalling UCRs
There will be changes coming to the system to allow the favourites to be managed and sorted
As soon as the final Lloyd’s agreement party has responded, the transaction will arrive on the XCS ‘Awaiting Action’ list. XCS could use a search but in reality they do not do this. They use XCS Workflow instead, which will alert them to the fact that the transaction has arrived.
The first task is to review the presentation. At this stage, XCS will not yet respond to the transaction. All fields are reviewed but those highlighted may cause problems. Broker References These can change from one transaction to another. When a settlement is involved, XCS will use these as the settlement references. These go out to the broker on the ‘Broker Signing Message’ (BSM) to assist in reconciliation. Loss Date Screens seen by XCS are much the same as those seen by a Managing Agent. Slip Order This should be the broker’s order and not Lloyd’s share. (These may be the same of course.) Limits and Excesses • Broker Narrative • Free format with varied uses including: • Indemnity / Fee split • Reason for re-releasing • AP signing when FDO used. Policy Period For binder individual UCR, this should be the policy period for the individual risk and not the binder. Continued on next page
Continued from previous page OSND This must be present on this screen. It is not acceptable to just have it on the UMR page. It is needed here in order to successfully process on XCS CLASS It is important to stress that this is a “dummy” claim performed in the Training Environment. In the “real” world XCS could not process a USD settlement with a GBP signing. As no settlement is involved in this example, we can advise a USD reserve. Claim Documents Required In this example the hurricane hit 2 states. XCS will need the split of recommended reserve.
Once reviewed in ECF the next thing for XCS to do is to put it into XCS CLASS. At this stage, no response has yet been made in ECF. XCS CLASS is available from 7am to 7pm. It is important to appreciate that if details presented cannot be put into XCS CLASS, then Managing Agent books will be out of date as no SCM can be released and any settlement amounts cannot be collected. Only once successfully released into the overnight run are messages created. XCS Claims information is considered to be the “master” claims database, so XCS also supply extra information which will allow Lloyd’s to extract reports and Lloyd’s regulatory requirements to be satisfied 07:00 Create claims information Amend claims information End of Working Day Incorrect information can be reset up to 7pm when system goes down Overnight Run If settlement involved Syndicate Claims Message (SCM) (Every syndicate / every claim) Broker Signing Message (BSM) Underwriter Signing Message (USM)
The System has lots of differing functionality for the various scenarios presented. This demo illustrates just one technique and highlights just a sample of the fields completed by XCS. Create Claim – This is used for first notifications, i.e. transaction / sequence 1. Find Claim – This is used to locate an existing claim when an update is required, i.e. transaction / sequence > 1 As the UCR presented is a first advice, we will follow the “Create Claim” route
XCS supply OSND, as shown on the transaction summary in ECF Original signing, as supplied by the broker. This must never be left blank as it would be rejected as an “out of scope” unsigned risk. If a FDO signing is used, XCS can additionally insert the AP SND, to ensure the correct regulatory codes are used. Broker should advise the AP signing using the Broker Narrative
