London Market Messaging

Insurance The London Market Way

Following a number of highly successful implementations of Guidewire ClaimCenter in the London Market, Guidewire has invested to produce London Market Messaging, aimed to deliver specialised functionality for insurers operating in this unique trading arena. Guidewire London Market Messaging is a separately licenced add-on for Guidewires market leading claims management system, Guidewire ClaimCenter. A part of InsuranceSuite, Guidewires suite of core insurance applications for the global General Insurance industry, ClaimCenter provides support for the full claim lifecycle. EXTENDING CLAIMCENTER FOR LONDON MARKET
Guidewire has worked with its clients in the London Market to develop enhanced functionality for ClaimCenter, specifically to address the unique requirements of this market.
Message processing and action framework Message handling Claims messages Settlement messages Message cleansing Message business rules Manual message editing

Message Processing and Action Framework

Extending Configuration Capabilities
London Market Messaging provides enhanced configuration to manage incoming market claims messages, through a message processing framework. Examples of features include:
Messages are stored, logged within ClaimCenter, and evaluated according to configurable logic, to assess whether messages can be automatically processed, and what actions should be taken; Stored messages are visible both within the applicable claim file, and in a specialised interface outside the claim file; The framework allows insurers the further option to take no action, based on message criteria - for example allowing insurers to subscribe to all CWT messages for a given loss, lodge a claim within ClaimCenter upon receipt of the first CWT message, and set an initial reserve before an SCM message is received, choosing only a subset of movements on which to act within ClaimCenter.

Message Handling
There are several London Market claims-related messages which an insurer might wish to process. In the ClaimCenter release of London Market Messaging, Guidewire supports claims messages and settlement messages. Those messages supported will cover the Lloyds market and the Companies market. Claims messages handled are :
LIMCLM claims messages (London Insurance Market Claims messages; claims summary messages for the Companies market) SCM claims messages (Syndicate Claims Messages; claims summary messages for the Lloyds market) CWT claims messages (Claims Workflow Triggers messages, claims movement messages for both Lloyds and Companies markets)

2013 Guidewire Software, Inc.

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Settlement messages handled are:

USM settlement messages (Underwriters Signing Messages; settlement notifications for the Lloyds market) DSIGN settlement messages (Daily Signing messages; settlement notifications for LIRMA companies) ILUCSM settlement messages (Institute of London Underwriters Claims Settlement Messages; settlement notifications for ILU companies)

Message Actions
London Market Messaging includes a pre-configured set of business rules and logic for handling of messages but we recognise each insurer is unique and will have different requirements. Insurers will implement message pre-processing logic and full evaluation logic to determine whether an automated action should be taken, so that these are executed only when demanded by a particular business process. The provided logic is configurable; this ensures processes address insurer-specific requirements, rather than imposing a predetermined set of actions.

ClaimCenter
London Market Messaging is a specialised add-on for Guidewire ClaimCenter. ClaimCenter provides out of the box functionality designed to address the requirements of international insurers, and the London Market.

2013 Guidewire Software, Inc. All rights reserved. Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire London Market Messaging, Deliver Insurance Your Way, and the Guidewire logo are trademarks or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries. DS-CC-LMM-1013

2013 Guidewire Software, Inc.