Central Services Refresh Programme (CSRP)
The Central Services Refresh Programme (CSRP) is part of the overall Market Modernisation agenda. It is a collaborative cross-market Programme involving the Lloyd’s Market Association (LMA), the International Underwriting Association (IUA), London & International Insurance Brokers Association (LIIBA ), Lloyd’s and Xchanging Ins-sure Services (XIS) as the delivery partner. CSRP also works closely with the Associations Administrations Committee (AAC) to ensure clear definition of boundaries for projects sponsored by AAC and the CSR Programme.
The programme will deliver improved services and infrastructure for the market back office. These enhanced and extended services will make it easier to do business in the London market and enable improvement in the acceptance, capture and storage of more consistent and richer risk and claims data.
In particular CSRP aims to:
- Eliminate or move (from brokers to a central services provider) the London-specific back office processes (known as ‘Londonisms’) that have been identified as factors hindering the processing of business in London, as part of ongoing improvements to outsourced back office provision.
- Provide for the sharing of information between brokers and insurers using electronic messages to ACORD standards. Processing business in the London market needs to be easier and more efficient; delivering this information using accepted global standards was identified as contributing to the ease of access for the placing business in the market.
- Replace old technologies.
- Extend central services where economies of scale are beneficial, as described in the Future Services Register (FSR).
The CSRP is driven by the desire to meet brokers’ requirement to operate with any insurer-service provider combination (including a bureau) in a manner consistent with other global organisations. The current phase of CSRP, termed Post bind Submission (PbS), concentrates on developing processes free of these negative ‘Londonisms’ which may act as a disincentive for business to be brought to London. It will also enable insurers and their service providers to transact business in a more streamlined and efficient way.
Post bind Submission (PbS) is the first project within the wider Central Services Refresh Programme (CSRP).
A Target Operating Model for PbS has been published. For Further information please consult the LMA Guide to London Market Processing or visit the LMG's website.