XML for Binding Authorities - Acord

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• Claim process • Coverholder or TPA reports claims to broker • Broker sends this to Xchanging (3 rd party provider) and carrier/s • Xchanging provides information to Lloyd’s for regulatory reporting © ACORD 2013
Some specific benefits for claims in dealing with London • Shorten collection times for various bordereau • Uniformity for auditing purposes • Improve burdensome processes that are already in place due to lack of one standard © ACORD 2013
Page 1 and 2: Picture to go here > Lloyd’s cove
Page 3 and 4: Lloyd’s objectives ► To make it
Page 5 and 6: No more bordereaux The coverholder
Page 7 and 8: No more differing formats and layou
Page 9 and 10: Reporting standards < Picture to go
Page 11 and 12: Picture to go here > But alone lloy
Page 13 and 14: A common format ► ACORD XML provi
Page 15 and 16: ACORD bound risks standard • Work
Page 17 and 18: Why Binders Are Important • Cover
Page 19 and 20: MGA Viewpoint • Differences betwe
Page 21 and 22: • Premium process • Coverholder
Page 23: Requirements for Claims Reporting
Page 27 and 28: Where are we? Three new XML message
Page 29 and 30: Working Group BAS S Coverholder Ven
Page 31 and 32: Since The World’s the beginning D
Page 33 and 34: What is XML? › Text with structur
Page 35 and 36: A cupcake recipe in CSV format.
Page 37 and 38: The same recipe in XML
Page 39 and 40: It’s all just data.
Page 41 and 42: Descriptive and easy to validate.
Page 43 and 44: How XML can Improve Efficiency and
Page 45 and 46: Data Management and Reporting with
Page 47: How XML can Improve Efficiency and

XML for Binding Authorities - Acord

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