Brokers are represented in various Ruschlikon bodies. Message receiving capabilities on the broker side is on the strategic roadmap of the Ruschlikon eAccounting and Claims Steering Committee.
Business cases are currently be constructed.
What are EBOT and ECOT?
EBOT and ECOT are ACORD Standard specifications. They document the business data and rules required for conducting electronic business interactions from system-to-system.
EBOT stands for Electronic Back Office Transactions. It deals with the usage of ACORD Technical Account and Financial Account messaging. ECOT stands for Electronic Claims Office Transactions. It deals with the usage of the ACORD Claims Movement message and links with EBOT for completing claims-related payments.
Placing messages are used for electronic data exchange in the context of ePlacing.
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What is Blueprint Two and how does it fit with Ruschlikon and ACORD?
Blueprint Two is a major business and infrastructure modernisation program taking place within the London market. The aim is to digitise the market to generate an environment that is built on data, automation and standardisation.
One aspect of the modernisation program is the shift towards using ACORD messaging for all participants. Phase 2 of the program will involve sending and receiving processing instructions and notifications via a range of ACORD Standard messages, many of which are already used within the Ruschlikon community.
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How does Blueprint Two affect current Ruschlikon industry partners?
The London market operates on a subscription basis, meaning that some organisations take the lead in decision making for things like claim agreement and contract amendments, and other organisations enter into a contractual obligation to follow those decisions. Facilitating this practice using ACORD Standards will involve enhancing the existing standards with new data items and processes.
These enhancements are progressed through ACORD groups which have many participants from the Ruschlikon community. The enhancements already realised include items that facilitate additional functions for Ruschlikon, as well as areas that may warrant minor changes for Ruschlikon processes to maintain alignment.
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What data and process standard is used in the Blueprint Two project?
Blueprint Two will be adopting the ACORD Global Reinsurance and Large Commercial (GRLC) Standards. This will involve using EBOT (Technical Account Messages) & ECOT (Claim Movement Messages) for premium accounting and claims transactions, and the newly created CRP (Contract, Risk & Pre-Accounting message) for post-placement activities.
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Will the ACORD GRLC Standards be adopted in the BluePrint Two Phase Two sequence in the current form that they are adopted by the ACORD Member community, Ruschlikon?
The existing implementations of EBOT & ECOT within Ruschlikon are conducted using XML formats. Blueprint Two will similarly adopt EBOT & ECOT, using XML.
The Ruschlikon ePlacing Business Implementation group (ePBIG) however is working towards JSON implementations. Blueprint Two will utilise the CRP (Contract, Risk & Pre-Accounting message) which are also being generated in the JSON format.
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How does the ACORD GRLC Contract Risk & Pre-Accounting message (CRP) relate to the Core Data Record (CDR)?
The Contract, Risk & Pre-Accounting (CRP) standard contains a wide range of elements required to complete placement activities. The Core Data Record (CDR) however only includes the data and processes needed to facilitate certain London market activities.
The CDR is therefore a specific implemention of CRP that uses a subset of the data and processes available.
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How does the ACORD GRLC Post-Placement message and the Contract Risk & Pre-Accounting message (CRP) standard match together?
The existing implementations of the ACORD GRLC Post-Placement message are conducted using the XML format, whereas the Contract, Risk & Pre-Accounting (CRP) standard is being developed in JSON format.
The Pre-Accounting message that is incorporated within the CRP standard performs the same function as the Post Placement message within Ruschlikon, and as Ruschlikon ePlacing groups are working towards adopting JSON implementations, it is likely that the XML Post Placement message will ultimately be replaced by the JSON Pre-Accounting message within the Ruschlikon community.
The data requirements for the Post Placement/Pre-Accounting message will inevitably be slightly different between the London market and Ruschlikon communities, though overall correlation between the two is anticipated to be very high.
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Where do I get the latest information on the Blueprint Two project, including the timelines?
The best source of information is the Blueprint Two homepage, hosted by Velonetic.
At the top of the site are links to details on Phase One/Phase Two/Resources/Progress/Support, and each of these links are regularly updated with the latest information.
The Progress section includes a link to the events page, where slides and event recordings can be accessed. The working sessions and progress update events all contain details of the roadmap and respective timelines.
Blueprint Two also offers a "What's New?" page summarising recent updates.
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Who is Velonetic?
Velonetic facilitates and provides the central services used by the London market which includes (but is not limited to) the processing of premium and claim transactions.
Velonetic is a joint venture enterprise between DXC Technology, the International Underwriting Association (IUA) and the Corporation of Lloyd's. They were formerly know as 'London Market Joint Ventures', and prior to that as Xchanging Insure Services (XIS) and Xchanging Claims Services (XCS).
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What assistance can the Ruschlikon community provide to ease the Blueprint Two implementation for prospect and current Ruschlikon members?
The Ruschlikon community has for many years been using the ACORD GRLC standards that will be adopted in Phase Two of Blueprint Two. Ruschlikon practitioners are already engaging with those responsible for the Blueprint Two program, both through the ACORD groups and directly in London market committees to provide advice to design teams on the practical application of the standards.
Details of the findings are often discussed and shared in the Ruschlikon UK Implementation Group (RUKIG) meetings, and RUKIG members have produced documentation to aid understanding of the challenges involved with Phase Two and the potential outcomes.
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Who is the target audience for Blueprint Two - Phase One and Phase Two?
The Blueprint Two program has been established to modernise the London market, and the primary target audience for both Phase One and Two will be the 400+ organisations that currently trade in that market.
Some of the facilities being produced could be extended to other markets, and once Phase Two has been delivered and is providing a high level of automation and standardisation, the target audience may therefore be extended.
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