During phase one, will you still get the End of Day and End of Month (MCM) messages?
Yes, the same messages you get today will be available in phase one.
Will LORS be taken to the cloud services in July 2024? When will further details and testing begin?
LOR is part of phase one and both the portal interaction process and LORS EDI messages are in scope of phase one digital services. LORS will be moving over to a new cloud-based portal, and the functionality will be the same as it is today. Self-testing by customers will be available from end of March 2024.
When will we get confirmation of the approach to transformed/customised EDI messages so that we can progress plans?
A team is focusing on the transformed/customised messages that exist today. We are taking a pragmatic approach so that we accommodate the most significant variants, and not those at the periphery, e.g. a simple name change or one additional field. We will confirm the outcome as soon as we can, although it is likely that transformed/customised messages such as ACORD4ALL will be included due to large scale usage. However, we will need to assess the financial impact for the firms that wish to use them. Where known, details have now been shared with managing agents, company market carriers and the top fifty brokers covering the messages received and any known customisations. We will share the approach to customisations in Q4.
Will there be changes to how reporting is managed, and will we still get the same reports?
There will be changes to how reporting is managed. Although data for reports will remain the same, the way they will be received will be different. The delivery method will change, and email will no longer be one of these methods. There is a new customer self-serve approach being introduced through Qlik Sense. All existing reports will be available in the new digital services, with new possibilities being available in the future. Velonetic customers are encouraged to consider the business process impact and opportunities arising from the move to customer self-serve.