A&S Repository update

31st MAY 2007

NIGEL ROBERTS

© Lloyd’sECF and A&S Repository Update 3105072

A&S Repository : overview The process by which premium and claim payment amounts are

accounted and settled between brokers and underwriters

The goal of the work stream is to allow all A&S documentation and data to be submitted and exchanged electronically

We have achieved:

Delivery of electronic infrastructure to support the efficient processing of Lloyd’s premium (LIVE SINCE SEPTEMBER 2006)

Currently servicing between 15 and 20% of XIS daily volumes as at end of May.

Published a strategic design for the adoption of international standards

© Lloyd’sECF and A&S Repository Update 3105073

Take Up Accounting & Settlement

42 brokers and Service companies live and in a position submit closings

electronically

3 Entities due in week beginning 29/5/07

Volumes of submissions being received electronically : 17%A&S Premium (Incl AP/RP) Submissions

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

1st

Jan

8th

Jan

15th

Jan

22nd

Jan

29th

Jan

5th

F

eb

12th

Feb

19th

Feb

26th

Feb

5th

Mar

12th

Mar

19th

Mar

26th

Mar

2nd

Apr

9th

Apr

16th

Apr

23rd

Apr

30th

Apr

7th

May

14th

May

21st

May

Date (w/e)

Pe

rce

nta

ge

Electronic Lloyd's Submissions as a Percentage of Total A&S Target Set by MRG

© Lloyd’sECF and A&S Repository Update 3105074

A&S: next steps Focus on ramp up of usage:

Broker implementation support in place, able to support rollout to all brokers in 2007.

Work with market firms to embed as business as usual

Enhance capabilities to encompass all business types

Targeted for Q3 2007 to include more complicated business types e.g. proportional treaty

Target areas for process improvement and feedback to market firms

Support market firms’ pilots to deal directly with brokers

Continue to improve measurement capabilities to monitor performance and quality

ECF Repository update

31st MAY 2007

NIGEL ROBERTS

© Lloyd’sECF and A&S Repository Update 3105076

ECF: overview Live since September 2006

Phase 6 a Live on schedule – 8th May, no reported problems.

Phase 6b due live in mid August 07

IUA companies due live from 1st July 2007.

All Managing Agents signed up to the Repository Rules, 23 Managing Agents and 10 brokers actively using the ECF system

22% of all in scope claims are being submitted to the lead via ECF (as at 25th May)

Broker rollout support now in place starting next phase of broker implementation in mid June.

© Lloyd’sECF and A&S Repository Update 3105077

ECF: next steps Enhance ECF scope

Phase 6b : Due live August 07, bringing auto risk routing, all binders except co-lead.

Phase 7: Currently being scoped

IUA Live date : 1st July 2007

Embed electronic claims handling as business as usual

With FPD review managing agents’ and brokers’ plans and processes

Include electronic processes as part of FPD standards and monitoring

Target all in scope new claims by the end of 2007

FPD to improve measurement capabilities so that we can track throughput and service turnaround more accurately

© Lloyd’sECF and A&S Repository Update 3105078

ECF : In Summary ECF is live and a reality for the London Market

ECF is delivering up to a 40% reduction in settlement time

Between 20-25% of daily in scope claims are being transacted via ECF

Ramp up is increasing and broker rollout support is now in place for brokers wishing to implement in 2007.

Don’t get left behind!