BINDER XML UPDATE from Lloyd’s

1. BINDER XML UPDATE from Lloyd’s Sarah Thacker, Delegated Authorities

2. Where does the bordereau go? Retail Agent Tax authorities and regulators Local Lloyd’s Office Insured Coverholder Xchanging Broker Claimant Lloyd’s in London TPA Managing agent Investors Re-insurers Note: Bordereaux are typically used within red area

3. Current visionApril, 2010 • Lloyd's vision over the next five years is to standardise the flows of risk, premium, claim and accounting information between coverholders and the Lloyd's market by working with market participants and ACORD to agree data standards which can be used both within and outside the Lloyd's market. It is anticipated this will improve efficiencies, enable greater use of technology and more informed decision making as well as improve monetary settlement processes; whilst allowing coverholders and other market participants to be free to choose their systems, technologies and roles.

4. Creating A framework for the vision • Standards • Lloyd’s premium and claims standards introduced • ER3001 for US property exposure reporting already existed • Premium and claims transaction messages introduced in ACORD P&C XML • Exposure management introduced in ACORD AML XML • For further details see www.lloyds.com/coverholderreportingstandards • Systems • New technologies and systems on the market to map bordereaux, hold transactional level binder data and manage coverholders • Managing agents and brokers with big binder portfolios have typically either bought systems or been looking closely at them • Implementation of standards • Use and knowledge of ER3001 spreadsheet widespread • Some use of premium and claims standards • Small number of XML implementations

5. Lloyd’s, XML and Canadian coverholders • Facility created for coverholders to up load commercial policy risk and premium information to Lineage using XML. • 41 out of 132 coverholders are now using the facility. • Around 17% of all transactions coming into Lineage are now via XML • Lineage, Lloyd's Information Exchange consists of the following service lines: • Clearing– Scheme Canada settlement provides monthly/daily settlement of premiums, paid claims, claim advances and other expenses relating to Canadian dollar binding authority business. • Compliance– collation of regulatory data and reporting on behalf of Lloyd’s underwriters. • Analysis– provision of data and statistical information to customers. • Business Controls and Management – a mechanism for the conduct of certain business functions, such as above authority claims administration. • Business Service Support Centre (Contact Centre) – providing assistance to customers with regard to such issues as regulatory requirements and business processes. • For more information on Lineage and Scheme Canada contact: info@lloyds.ca

6. Lloyd’s, XML and Italian coverholders • DOPRINT launched early 2011. • 52 out of 112 Italian coverholders now submit XML to DOPRINT to create certificates. • For more details, please contact: Mauro.Carini@lloyds.com DOPRINT enables Lloyd's coverholders to print insurance documentation in Italy. DOPRINT is a system which allows the coverholder to submit the relevant policyholder details and premium data using XML. DOPRINT adds the policy wordings which form the basis of the insurance certificate. In addition it provides automated checks of each declaration against certain key elements of the coverholder’s Binding Authority Agreement. Coverholders can use DOPRINT for policy issuance and endorsements.