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ECF – A GLOBAL SOLUTION?

25 October 2007. ECF – A GLOBAL SOLUTION?. Gordon Street TPE2.19. TOPICS. Current volumes Status & developments to date Next steps Benefits Challenges Your role. ?. CURRENT VOLUMES AT LLOYD’S. First week October 2007 (All business categories) 45% of In-Scope 35% of all claims

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ECF – A GLOBAL SOLUTION?

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  1. 25 October 2007 ECF – A GLOBAL SOLUTION? Gordon Street TPE2.19

  2. TOPICS • Current volumes • Status & developments to date • Next steps • Benefits • Challenges • Your role ?

  3. CURRENT VOLUMES AT LLOYD’S First week October 2007 (All business categories) • 45% of In-Scope • 35% of all claims • 44 Live Brokers (79% total claims volume) • 49 Brokers to implement by end of 2007 (Potential total 98% total claims volume).

  4. INSURERS PARTICIPATION TO DATE • 39 out of 43 Managing Agents • 12 IUA companies live or implementation • 32 IUA companies demo or discussion • Marsh Marine approx 80% of In-Scope

  5. OBJECTIVE • Global trading • Desktop to Desktop delivery • Changed method of delivery of claims information

  6. FIRST PHASE • Brokers (some) • Lloyd’s • Xchanging repository • ACCORD Global standard

  7. SECOND PHASE • Lessons learned & developments needed • Broker take-up • IUA companies

  8. FUTURE • Remaining Brokers • All IUA companies • Other improvements/developments • Insurers outside London Market • Experts/service providers

  9. BENEFITS • Speed of delivery of information • Easy access to file for all parties • Structured data • Audit trails • Claims management opportunities • Easier communication between everyone

  10. CHALLENGES • Cultural issues • Use of face to face discussions • Reduce paper • Manage inboxes/set priorities • Service levels & resourcing • Time taken to process • Training • Followers questions : delays & problems?

  11. THE OPPORTUNITY • All marine claims practitioners • Brokers • Lloyd’s underwriters • IUA companies • Other insurers • Experts

  12. CONCLUSION

  13. www.marsh.com

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