Governance update

Process and Standards Group (PSG)

A plenary session of the PSG was held virtually on 7 February. The Group reviewed Criterion’s Standards Programme Plan; was updated on in-flight projects; discussed projects about to launch looking at Account Opening and Underwritten Protection Quotes; and agreed an approach for changes to existing standards affected by the abolition of lifetime allowance. Meeting materials and minutes are available here. 

The Group’s next meetings will be held face-to-face in London on 8 May. 

Standards Technical Architecture Group (STAG)

The STAG will meet by Teams on 20 March to discuss API architecture and implementations. 

A calendar invitation has already been issued; with relevant input materials to follow. 

Standards projects

Account Opening

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

Progress

  • Terms of Reference have been agreed by Proposer and Seconder. 
  • Initial meeting held to discuss scope with the Proposer and Seconder. 
  • Invite to join Working Group issued and to date 9 organisations have confirmed participation. 

Future milestones - March

  • An initial Working Group meeting will be held to discuss scope, timescales and approach with the wider group and to commence requirements gathering. 

Underwritten Protection Quotes

A Standards Development project to create a standard set of information to hold underwriting decision in order that a premium can be generated in an underwritten quote. 

Progress

  • Terms of Reference agreed with the Proposer and Seconder. 
  • Invite to join Working Group issued. 

Future milestones - March

  • An initial Working Group meeting will be held to discuss scope, timescales and approach with the wider group and to commence requirements gathering. 

Occupation Codes List Update

Update Implementation Group

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

The latest Occupation Code Lists are available on the Criterion website. A change was made to the list in February to update one occupation description that was highlighted during ongoing implementation preparation.    

A meeting was held in February 2023 to review current development plans. 

Future milestones - March 2024

  • A meeting will be held ion 26 March to allow the Group to track progress towards implementation. 

Group Risk Quotes and Placement

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

The GRQ JSON and OpenAPI Standards for GLA for New Business, Rate Review and Re-Pricing Draft A were published in January 2024.  

The GRQ GLA Draft A OpenAPI and JSON Standards were published on the Criterion website and a meeting was held with the Working Group on 31 January to review the Standards documents. Comments on the BRD were received and discussed with actions agreed which will require a further version of the BRD and updates to the Draft A GRQ GLA Standards. 

Criterion obtained feedback on industry implementation plans and a series of one-to-one calls have been carried out. Based on industry input, Criterion does not intend to proceed with any further Group Risk standards development work until industry implementation plans are available.  

Future milestones - March 2024

  • GRQ GLA BRD to be updated following receipt of late comments. 
  • Updates to the Draft A GRQ GLA OpenAPI (JSON) Standards will be applied. 
  • Development work to be assessed in Q2. 

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. 

Progress

  • Candidate Design Document issued and meeting held to discuss this document and approach to Standards development.  

Future milestones - March 2024

  • Assess feedback on proposal to pause further work until adviser demand is fully understood and a clear steer on technical delivery is available. 

BAU Change Requests

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

Progress

  • PSG approved Criterion’s recommendation to publish solutions for Change Requests (CRs) resulting from abolition of Lifetime Allowance (LTA) during Q2 but not incorporate into Standards until business need to do so. 

Future milestones - March 2024

  • No BAU CR activity scheduled. 

Standards published since last update:

Documents published since last update