The Exchange is a messaging service, which enables brokers, underwriters, coverholders and IT suppliers to have a single connection point from which they can send and receive information securely between multiple parties.
It is not intended to impose a way of working, but supports brokers, managing agents and coverholders by providing a simple service to enable a standardised way in which to exchange electronic information.
The Exchange offers:
- A simple way of connecting to all your trading partners
- A single connection point with a low overhead for organisations to support and maintain
- Simplified interconnectivity between IT service providers
- A way of exchanging structured information which can be fed directly into back office systems
- Message validation according to a single ACORD standard enabling consistent implementation of the standard across the Market
- The possibility of having a managed process of upgrades for the market
- A highly secure environment
- A highly reliable network
What is the Exchange used for?
The Exchange is currently used to support the processing of ACORD messages for a number of initiatives including:
- Electronic Endorsements
- Accounting and Settlement processing in the non-bureau company market
- Structured Data Capture solution
- Coverholder Risk Bound Reporting Messages
- Central Service Refresh Program (CSRP)
How it Works
At the heart of the Exchange is an ACORD certified messaging hub. It handles authentication, authorisation, routing, delivery and response management.
A repository of underwriter contacts details are held centrally. This is used by broker systems to address their electronic endorsement messages to the appropriate person at the carrier end.
The TMEL Portal provides a user interface to the market directory. A username and password to the portal is provided to organisations when they first register with TMEL. Web services are also available for integration; please contact us for further information.