Northdoor plc has announced the launch of its Blueprint Two solution Alternate, in partnership with Web Connectivity Ltd. (WCL) The solution will allow London market carriers to immediately conform with the Blueprint Two back-office message changes without having to adopt a ‘full digital’ approach in practice. Blueprint Two is the critical digital transformation programme that the London market is implementing to ensure that businesses are able to offer digital services and can work at optimal efficiency, moving away from more traditional approaches.
Currently, London market carriers have two options available over the next few months to get in-line with Blueprint Two. Either they have to adopt a ‘full digital’ Blueprint Two programme from day one or they move onto the Joint Venture (JV) Transitional Services.
The Joint Venture Transitional Service will take the new ‘fully digital’ eBOT and eCOT messages and convert them into something similar to the EDI messages e.g. USM and SCM messages that London market carriers currently receive. However, this transition period is reportedly only going to last for a limited time, after which London market carriers will have to switch to the ‘fully digital’ approach.
Northdoor and WCL’s new solution is offering a third option. It takes the ‘full digital’ messages from day one and converts them into the message that London carriers receive today, much like the JV Transitional Services but with a number of differences and benefits as Stuart Favier, Insurance Client Manager at Northdoor explains.
“All London market carriers are looking at Blueprint Two with a mixture of anticipation and trepidation. This is a huge, but important step for all in the London market to take, but with the deadline fast approaching and many unready to take the considerable step of adopting a ‘full digital’ approach from day-one, we knew that a solution offering the best of both worlds was likely to be extremely helpful.
“The advantage of our new solution means that clients will have adopted the ‘full digital’ Blueprint Two services from day one, a tick in the box from Blueprint Two compliance perspective as they are keen to get as many people fully digital ASAP, but without London market carriers having to rip and replace existing systems.
“Our solution will allow for minimal operational/process/IT change and if a carrier does not want to go fully digital in practice, for whatever reason, then they do not have to. It also removes the deadline of making large system and operational changes within a limited timeframe that the JV Transitional Services may require, as it allows carriers to move to a fully digital function when they are ready. Finally, as those clients who bring on board Alternate will be fully digital from day one, they will also have access to the data within the full digital messages from day one too.
“Many vendors are advising London market carriers that they must upgrade their existing Policy Admin System to the latest version, in order to ensure adherence to Blueprint Two. This is a huge, and often expensive task, however, our solution that we are delivering with our partner, WCL will allow the best of both worlds. Adherence to Blueprint Two, whilst allowing for the existing systems to remain in place for as long as the carrier wishes.
“On the face of it, Blueprint Two is a daunting and potentially expensive task for carriers. However, this is a crucial step towards the digital transformation of the market and with the Alternate solution in place carriers can move forward into an exciting future with confidence, minimal initial disruption and without a deadline hanging over their heads”.
James Willison, Managing Director at WCL adds “WCL have worked with Northdoor and Northdoor customers for over ten years, therefore if gives me great pleasure to announce this product launch, supporting the London market with practical solutions for meaningful business change. Blueprint Two’s adoption of eBOT and eCOT messaging will unlock financial efficiencies, and align London processes with the rest of the world, which is a positive step forward making the London market easier to do business with.”
Catch up with the Northdoor team and hear more about its Blueprint Two approach at the TINTech Blueprint Two Deep Dive event on 23rd May 2023 at Etc. Fenchurch Street
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