Standards projects

Platform Account Opening 

A Standards Development project to develop a Platform Account Opening (PAO) Standard with a focused data content that will reduce the level of inconsistency experienced under the current FIT-based approach.

Progress

  • 12 Draft A resource OpenAPI definitions (OAD) and one resource guide have been published on our website and the Working Group have been asked to review and provide feedback.
  • Further 1-1 meetings took place with a number of working group organisations.

Future milestones - January

  • Commence PAO orchestration development.
  • Continue with development of remaining resource OADs and resource guides.
  • Hold technically focused working group meeting to consider aspects of the technical design. 
  • Further 1-1 meetings with Working Group members.

The working group will next meet in January 2025.

Occupation Codes List 

Implementation Group

Supporting industry adoption of the revised occupation codes standard used in quotations and new business processes. 

Progress

The November RAG status questionnaire and implementation group meeting confirmed that two Providers have now implemented the changes and in general the responses regarding implementations were more positive or static since the previous update. No additional feedback was received in December. 

Future Milestones - January:

  • Monthly RAG status questionnaire to be issued.  
  • Implementation Group meeting to be held on 28 January.

Group Risk Quotes and Placement

Develop Standards for Group Risk Quotes (GRQ); similar Re-Pricing and Rate Review processes; and Placement.

Project activity is on hold until industry demand emerges.

Protection Policy Retention 

Develop standards supporting communication to advisers and other distributors of events in relation to protection policies that might put at risk continuing cover.

Project activity is on hold until adviser demand is fully understood and a clear steer on technical delivery is available. Criterion has written to the Working Group members to gauge demand for the continuation of this development.

Criterion agreeing approach to engage with the Protection Distributors’ Group about potential appetite.

Future Milestones- January:

  • Initial contact to be made with the Protection Distributors’ Group.

BAU Change Requests

Ongoing activity in relation to maintenance of current Standards via change management process.

Progress

  • With the autumn 2024 Budget confirming that the Lifetime Allowance will remain abolished, Criterion will continue with publication of related change request solutions as resource becomes free from other priority tasks.
  • Commence assessment of CRs relating to Quotes New Business annuities, particularly in relation to marital status values and potential replacement of user defined enumerations with standardised values. 

Future milestones - January:

Continue impact assessment of marital status and user defined enumerated lists, both within QNB annuities and also on wider Standards.

Standards published: