Exposure Data Design Project

The LMA Exposure Data Design Project (EDP) which started in June 2014, will define a set of practical solutions to the organisation, maintenance, and communication of exposure and related information. The EDP will deliver a system design standard with an illustrative prototype. This will include solutions to reduce the time needed to manipulate exposure data and make the process more efficient. By defining exposure data in a consistent structure, it can be moved efficiently between business units, business partners, applications, reporting systems and models, without the need for repetitive cleansing of the data.

The EMWG acts as the EDP Steering Group and an EDP Technical Group has been formed to support the project by providing test data, sense checking the proposals and giving feedback and a steer on the proposals and any issues.

A number of ‘Requirements’ meetings have taken place with all stakeholders, including managing agents, cat modellers in the Lloyd’s market, brokers, London Market companies, cat model vendors, software houses, ACORD and Xchanging. The purpose of the Requirements Meetings was to explain the project in detail, to discuss the vision and to obtain feedback, requirements for the outputs and the process, and to offer all stakeholders an opportunity to be involved in the project, if they so choose.

Evaluation Workshops were held on 9 September to discuss and evaluate the proposed solutions for systems design standards for exposure data.

It is intended that the EDP will be completed in early 2015.

 

Contact us


Gary Budinger
Senior Executive, Finance and Risk


Ken Curtis
Finance Director