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 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.
  • Initial Working Group Meeting was held to discuss scope, approach and timescales.

Future milestones - April 

  • Produce a detailed Scoping Document and issue to Working Group for comment.
  • Working Group meeting arranged for 30 April 2024.

Underwritten Protection Quotes

A Standards Development project to create a standard set of information to hold an 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.
  • Initial Working Group Meeting arranged for 16 April 2024.
  • Terms of Reference revised to make clear the aim of the project is NOT to produce a standardised set of underwriting questions but a standardised set of data responses.

Future milestones - April

  • An initial Working Group meeting arranged for 16 April 2024 to discuss scope, timescales and approach with the wider group and to commence requirements gathering.

Occupation Codes List

Update Implementation Group

Project to support industry adoption of the revised Occupation Codes Standard used in quotations and new business processes. 

Progress

The latest Occupation Codes List are available here. Changes have been agreed to the lists based on feedback received during ongoing implementation preparation.     

A meeting was held in March 2024 to review current implementation plans.

Future milestones - April 

  • A meeting will be held on 30 April 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.

Progress

  • GRQ GLA BRD to be updated following receipt of late comments.
  • Updates to the Draft A GRQ GLA OpenAPI (JSON) Standards will be applied.
  • No activity taking place as project is on temporary hold until industry demand emerges.

Future milestones - April 

  • Development work to be assessed in Q2.

Protection Policy Retention 

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

Progress

  • Development has been paused until adviser demand is fully understood and a clear steer on technical delivery is available.

Standards published since last update:

Documents published since last update: