Premium Accounting & Settlement

LPANs will continue to be submitted to trigger the accounting and settlement process via two routes:

• IMR Portal

• DRI

The Market Gateway (ASG Adept) will replace the existing gateways, XAG, XDH and XSH.

LPANs submitted to the IMR via DRI will be routed through the Market Gateway (ASG Adept). 

For EDI, portal and gateway changes, please also refer to the phase one summary.

Brokers will be able to submit RESETT messages via the Market Gateway (ASG Adept) to IPOS to release delinked payments.

RESETT messages are not expected to change. The EDI specification can be found here.

Portal access to IPOS will be available for phase one through which brokers can release delinked payments, but will not be able to submit LPANs, which will continue to remain available via the IMR.

IPOS is the new premium processing platform replacing LIDS.

Both insurers and brokers will be able to manage queries via the IPOS portal. Premium queries will continue to be notified via email. 

Other query methods such as email, phone call and any manual workarounds can also be used to manage queries in phase one, but they are not recommended because the data related to queries will not be in IPOS and therefore users will not have complete auditable tracked transaction records.

In the case of a new transaction on an original premium which is held in legacy platforms (e.g., LIDS), such as in the case of endorsements, Reach Back will find the old premium data and bring it to IPOS, for a central view of the premium and premium history.

Both insurers and brokers will be able to view details of the signing on the IPOS portal, a functionality similar to Account Enquiry. Please note, this is not a reconciliation tool and will not contain the full data required to do reconciliation of transactions.

All EDI messages will pass through the Market Gateway (ASG Adept). 

For EDI, portal and gateway changes, please also refer to the phase one summary.

EDI Messaging will remain in place. All messages supported today will exist in phase one, even though they will come from a different portal, the Market Gateway (ASG Adept), and may have some content, but not format changes.

Mainframe end-of-day batches will cease to exist in phase one, the new digital platform operates in a real time. For example, as soon as a premium is processed and signed, it will be immediately written in the system of record. However, EDI messages (including USM and SCM) are scheduled once a day. EDI messages amalgamate all signings during the day into a single data package. The current frequency of EDI messages won’t change in phase one, they will be delivered in the same frequency and time as in today’s systems. 

Please see EDI specifications for detail on changes to EDI messaging.

For EDI, portal and gateway changes, please also refer to the phase one summary.

Net settlement will still occur through Central Settlement. Central Settlement is not changing and will still work via STFO for Lloyd’s and via RBS for the company market.

It is expected that there will be no changes to Central Settlement bank accounts. Central Settlement is expected to work as it does today but with feeds from the new digital services rather than the existing ones.

A new method of settlement that will be introduced in phase one. Please see What is Changing for more information.